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  1. #1

    Business looking for 500k - it does 2.5million in annual sales

    My customer is looking for 36 month loan at 12%. Biz does over 200k per month.

    He currently has 2 loans out. One of them is a daily advance.

    Let me know if you can assist.

  2. #2
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    Quote Originally Posted by bostriba View Post
    My customer is looking for 36 month loan at 12%. Biz does over 200k per month.

    He currently has 2 loans out. One of them is a daily advance.

    Let me know if you can assist.
    Probably time to have a conversation and start setting some realistic expectations with your prospect.

  3. #3
    Senior Member Reputation points: 30475 Zach's Avatar
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    Business looking for 500k - it does 2.5million in annual sales

    Doubtful he will get 500K
    Zachary Ramirez – CEO
    Phone: 562-391-7099
    Email: zach@zacharyjosephramirez.com

    1661 N. Raymond Ave #265
    Anaheim CA 92801

  4. #4
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    Well said FUNd.. I know guys that want to sleep with Supermodels- doesn't mean it's going to happen..

    Truth is though that if the business is profitable, the guarantor has good credit, and there is sufficient collateral-the client get can rates and terms better than that.

  5. #5
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    Business looking for 500k - it does 2.5million in annual sales

    Richard is correct. Depending on the business's collateral, credit and nature the client may qualify for rates and terms better than those offered in the Advance arena.
    What is the business? Why do they need a new loan? Will anyoan proceeds be used to retire the existing debt.
    These questions are just a start.
    Either Richard or I could give you an anlysis of your customer's options.
    Bob Shaw
    723-929-3800
    rshaw@advancecredit.com

  6. #6
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    There's probably a very good reason why he has already taken out a cash advance set up on a daily payment structure.

  7. #7
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    FUNd:

    I agree, you're probably right. I do see files all the time however, that should never have gone the daily payment route.

  8. #8
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    Guys, perhaps it's as simple as no one introduced him to a better option.
    Bob

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