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04-24-2014, 01:28 PM #4
- Join Date
- Jun 2013
- Posts
- 351
I just don't understand the thought process here on two ends. First, what business can afford nearly a 50% cost of capital on a million dollars??? A business that can afford that, shouldn't need it. They will be paying back over $80k a month. I would assume they are doing at least $12MM annually in sales, hopefully a lot more. You mean to tell me they don't have the collateral and credit requirements to get approved for an SBA loan? There is no bank or alternative lender that will come in and give them longer terms with a lower rate? They need a million dollars so badly they cant wait the time it takes to get traditional funding? Barring some unknown circumstances, this deal will either not fund or go bad, period.
Second, you have a million dollar approval and are not selling it in hopes of better terms? Ok, whatever you say...
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