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07-28-2016, 08:23 PM #1
Reputation points: 68233
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Obvious question that hasn't been asked or answered: Is there any other debt on the balance sheet? If they have Senior Debt finding subordinating debt in the single digits WILL be a problem.
A firm doing $3M per month without any debt at all is rare.
If it is completely clean- I agree with my esteemed colleagues: Definitely do-able. If they are seeking a second (which is what they are likely looking for) I think you will have to alert them that the rates will be higher because the risk to the Lender is greater.
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