Results 1 to 21 of 21
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09-12-2016, 03:14 PM #1
- Join Date
- Jun 2016
- Posts
- 8
Transportation Industry - averaging 797K monthly revenue - looking for 800K loan
Transportation Industry - averaging 797K monthly revenue - looking for 800K loan
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09-12-2016, 03:28 PM #2
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
I imagine they have some underlying senior debt. Would you please confirm that and describe it.
There may be some better lines of credit out their for them.
Thanks Bob Shaw
rshaw@delanceyfunding.com
734-929-3800
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09-12-2016, 03:51 PM #3
With real estate, WBL can make a loan for 2-3X the client's monthly deposit volume.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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09-12-2016, 04:40 PM #4
- Join Date
- Jun 2016
- Posts
- 8
no underlying debt. 700++ Fico. TIB 3yrs, 11 mos. Trucking industry
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09-12-2016, 04:43 PM #5
- Join Date
- Jun 2016
- Posts
- 8
they had an offer from wbl but didnt want to accept because it was 1.50 over 12 months. they want longer term
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09-12-2016, 04:50 PM #6
Just sent you a PM
Nick Hubbard
Senior Loan Advisor
314-252-0299 - Office
314-885-2262 - Direct
nick@elitefactoring.com
www.elitefactoring.com
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09-12-2016, 05:08 PM #7
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,499
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09-12-2016, 06:29 PM #8
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
QCF,
I see that Kevin and Bob have reached out to you- and they're both quite capable to assist you here. If your client really wants a Loan, rather than a LOC, and/or you want a different pair of eyes for perspective, feel free to contact me.
If the receivables are over $1M, we have a strategic partner that would offer a LOC at very competitive rates, without notifying the clients customers.
Richard 516 510 3855
Business Capital Consultants
775 Park Avenue Suite 255
Huntington, NY 11743
rg@businesscapitalconsultants.com
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09-13-2016, 10:31 AM #9
- Join Date
- Apr 2016
- Location
- Florida
- Posts
- 133
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09-13-2016, 12:20 PM #10jotucker1983Guest
I never quite understood these types of deals either. If the merchant is putting his house on the line, why is the pricing still at 1.30 - 1.50, with a short term of 6 - 12 months?
One of the arguments I make to merchants on why my standard advance/alt. loan rates are so high, is because the funding is unsecured. It would seem as though if the merchant put security on the deal, the pricing would go way down and the term would be extended.
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09-13-2016, 12:34 PM #11
- Join Date
- Apr 2016
- Location
- Florida
- Posts
- 133
Agreed Jotucker... Dont understand neither!!
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09-13-2016, 12:36 PM #12
- Join Date
- May 2014
- Posts
- 187
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09-13-2016, 12:39 PM #13
- Join Date
- Aug 2014
- Posts
- 72
So payback is based on what? The collateral or the ability to re-pay the loan? Sounds like an loan-to-own operation.
I saw a WBL default recent where they had a second mortgage recorded that exceeded the real property value. The attorney handling the default couldn't figure out how they were going to get their money back.
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09-13-2016, 02:01 PM #14
- Join Date
- Jul 2014
- Location
- Jackson Hole Wy
- Posts
- 730
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09-13-2016, 02:41 PM #15
Hey guys, I want to take a moment and clear up some misconceptions about our product.
1. Our principal balance generally will not exceed 75% CLTV -- we will not lend over 100% CLTV on any transaction currently.
2. Our rates are commensurate with industry-standard pricing. For example, our Bronze package is less expensive than comparable products, our Gold pricing is in line with comparable products, etc. It sounds like this borrower was qualified for our Silver Package. Not enough details to be sure. A Silver deal will generally lend in up to 3rd position for longer than a year term. The client's other 3rd position options are usually along the lines of a Knight/Everest/Yellowstone type of transaction, which will generally be 3-6 month terms with a much higher APR than ours. We will lend substantially more capital and longer terms than our competitors. This will, often times, result in a higher factor rate.
3. We fund transactions that, simply put, cannot get done elsewhere. Everyone here has deals in their pipeline that are a perfect logic fit for my organization. For example:
- We fund deals with multiple positions and need consolidation or partial consolidation
- We fund deals with sub-600 credit score who need a longer term than 6-9 months. We also have no credit score minimum.
- We fund deals with NSF's and Negative Days
- We fund deals in virtually every industry, except medical marijuana
- We fund deals fresh out of BK
- We fund deals that have defaulted on other lenders
- We fund deals that are behind on rent / mortgage
- We fund deals that have been recently funded by other lenders
Since there is no other option for the vast majority of those types of deals, WBL is a necessity in any broker's waterfall. The alternative is leaving money on the table. With increased acquisition costs, competition, and diminishing average commission rates, it is key for brokers to collect all potential revenue.
4. My team and I will take your deal from cradle-to-grave with very little input on your part. You send me your toughest deals and we will handle them without your direct involvement. Of course, if you prefer to be involved, you are more than welcome.
If you have any questions, comments, or concerns, please give me a direct call or email to discuss. My team and I are always available to review a deal with you.Last edited by Zach; 09-13-2016 at 02:49 PM.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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09-13-2016, 02:45 PM #16
In some cases that is correct. We are not looking for standard commercial deals. We are looking for the tough "hard money" deals. Second position liens on owner-occupied, 4th TD on commercial properties, funding as quickly as 1.5-2 weeks, and dealing with nearly any credit profile. Hard money simply cannot fund those types of deals, which is why we have such a strong niche.
Also, we pay up to 8 points, rather than the standard hard money payouts of 2-4 points.Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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09-13-2016, 03:00 PM #17
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09-14-2016, 12:20 PM #18
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
QCF- I am a direct funder and happy to take a look at this deal. We fund a lot of clients in the transportation industry. Just did one a week or so ago for $950k and another one four weeks ago for $1.1MM.
The client will need to be showing NET monthly income of about $100k (about 12% net margin which is common for the transportation industry) to pre-qualify.
Feel free to reach out if you are interested in discussing.
Best,
Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com
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09-14-2016, 03:10 PM #19
- Join Date
- Feb 2016
- Location
- Miami fl
- Posts
- 33
if he wants to put up property ill get it done @ rates around 6-9% 10-35yrs with 25yr amortization pm me
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09-15-2016, 01:34 PM #20
- Join Date
- Aug 2016
- Posts
- 24
I PM'D You
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09-24-2016, 01:26 PM #21
- Join Date
- May 2016
- Posts
- 41
If the company owns a substantial amount of transportation assets, I have the perfect lenders for them. George Bloom Consulting 772-285-6711
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