Results 1 to 7 of 7
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04-04-2016, 06:03 PM #1
Global Refinance On Equipment / Real Estate
Hey guys,
I have a tough deal. The ask is $1.3MM. Here are the details:
790 FICO
$3MM of equipment (liquidation value)
$1.7MM of real estate
$700K monthly w/ strong balances
The equipment and real estate have a loan from Heartland for $1.5MM against them -- it is a single mortgage that encumbers both the real estate AND the equipment. I have appraisals for the equipment & the R/E.
They are willing to pay off the $1.5MM lien in exchange for a 50% LTV product against the equipment and R/E for approximately $2.3MM.
Who would be a good lender for this?Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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04-04-2016, 06:14 PM #2
IF they have real estate.....
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04-04-2016, 06:19 PM #3
I can fund it, but not the amount he needs. Plus I can't use any of that equipment, which limits my loan size substantially.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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04-04-2016, 06:40 PM #4Nick Hubbard
Senior Loan Advisor
314-252-0299 - Office
314-885-2262 - Direct
nick@elitefactoring.com
www.elitefactoring.com
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04-04-2016, 08:08 PM #5
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Global Refinance On Equipment / Real Estate
Me.
I can probably get the deal some. Is their any other debt ?
Are they contractors?
Bob
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04-05-2016, 08:03 AM #6
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Morning Zach... If the firm is profitable, with a strong management team and historical financials there are several options available.. Even if that isn't the case there seems to be enough meat on the bone.. Re financing all of the debt could be time consuming... Ways around that..
Feel free to reach out if you would like a sounding board/assistance..
Richard 516 510 3855
www.businesscapitalconsultants.com
775 Park Avenue Suite 255
Huntington, NY 11743
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04-05-2016, 10:15 AM #7
If they have $3 million in equipment liquidation value we may be able to do the deal without using the real estate. give me a call or shoot me an email and we can discuss further.
Jim Plummer
Quality Leasing Co., Inc.
A Tom Wood Automotive Company
Office: 317-253-4415
Direct: 317-845-8768
Fax: 317-688-6420
Cell: 317-512-9618
www.qualityleasingco.com
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