Line of credit for a $4.6 m business
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  1. #1

    Line of credit for a $4.6 m business

    Denied by their bank for lack of previous large loans. Otherwise great credit, all bills paid on time.

  2. #2
    Senior Member Reputation points: 16709
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    If they have sufficient AR (b2b) and equipment or Real Estate there are the invoice factors that can do these LOC. Seacoast is on this board
    What is the industry?

  3. #3
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    Line of credit for a $4.6 m business

    Hi Tim:
    I would like to know more about the company to see if there's a fit with us.
    Please give me your contact information.
    Bob Shaw
    Iron Horse Credit, LLC
    rshaw@ironhorsecredit.com
    734-929-3800

  4. #4
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    Good Morning Tim...

    Please feel free to touch base to analyze the balance sheet and discuss options. If they want a true LOC- without a Lockbox- we have partner lenders that can provide that- some with 5 day turnaround- at competitive rates. The roughly 400k per month, should mean they have roughly 600k in receivables (where applicable). If there is an Inventory dynamic, M and E, and/or strong earnings we have several options as well. We can assist with Commercial Construction, Medical Receivables, as well as all typical ABL fields.

    Ben (Omegafund) was astute in mentioning Kevin from SeaCoast, however if this falls outside of his parameters feel free to give me a shout.

    Regards,

    Richard 516 510 3855

    Business Capital Consultants
    775 Park Avenue Suite 255
    Huntington, NY 11743

    rg@businesscapitalconsultants.com

  5. #5
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    Line of credit for a $4.6 m business

    Good morning Ben and Richard
    Bob

  6. #6
    Hi Tim,

    If this is a medical deal, please give me a call.
    Ben Rutkevitz
    Alleon Healthcare Capital
    benr@alleoncapital.com
    (201) 340-6346
    http://www.alleonhealthcare.com/

  7. #7
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    Quote Originally Posted by Tim View Post
    Denied by their bank for lack of previous large loans. Otherwise great credit, all bills paid on time.
    Tim,

    We will typically lend up to 10% gross annual sales, so in this case: ($450K) loan amount, but do require collateral (commercial / residential) for amounts over $150K. Our loans are term loans P&I, fully amortizing up to 4-years, however depending on the strength of the file, we are able to offer LOC's or transition the term loan to LOC's based on relationship.

    *Note: FICO's > 620, TIB > 2-years, Annual Sales > $1M, NO BK, JUDGEMENTS, LIENS.

    Let me know if you have interest in discussing options.

    Best.

    Sean
    LiftForward
    917.477.6534
    sean@liftforward.

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