Results 1 to 5 of 5
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05-19-2016, 01:08 PM #1
Architecture Firm with Huge Profits but low TIB
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?Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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05-19-2016, 01:31 PM #2
- Join Date
- Apr 2016
- Posts
- 4
Thanks Zach...always a pleasure.
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05-19-2016, 03:04 PM #3
- Join Date
- May 2016
- Posts
- 32
How many deposits per month?
Where is the Company located?
1.16 buy rate is low.
We can do 1.38 for 6 months.
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05-21-2016, 06:39 PM #4
- Join Date
- Apr 2016
- Location
- Miami Beach
- Posts
- 49
I would try reaching out to Steven at Kalamata Capital
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05-22-2016, 11:19 AM #5
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
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.Last edited by Cfairbank; 05-22-2016 at 11:24 AM.
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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