[Zach]

Tough deal:

-Architectural Firm
-700+ FICO
-$275K monthly revenue
-$100K of profit each month
-1.5 years TIB (30 years industry experience if that's any consolation)
-Average balances over $10K
-Needs a 6-month term for $150K or greater with 1.16 buy rate
-BFS approved for $75K, client declined due to size

Takers?

[drp]

Thanks Zach...always a pleasure.

[Againstmediocrity]

How many deposits per month?
Where is the Company located?
1.16 buy rate is low.
We can do 1.38 for 6 months.

[305Shark]

I would try reaching out to Steven at Kalamata Capital

[Cfairbank]

We don't like this space particularly, but as long as guarantor is strong and it's a state we structure as a LOAN (around 40 states now), we've gone as low as 1.09 buy rate in the construction space. That was taking a fraction of deposits and very strong dailies, 700+ credit, and much longer TIB.

Here, in addition to normal stips, we would need to understand what he was doing before this company (did he have a failed remodeling company? TIB is definitely a concern, especially in this space, so we'd need to understand that). If this guy has any form of contracts in place for on-going work, six months 1.16 COF for 150K would be no issue. Contact Steve Safirstein ssafirstein@breakoutfinance.com if you'd like us to look.

And I agree with 305Shark, Kalamata would also be good option.