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02-02-2017, 06:54 PM #1
- Join Date
- Mar 2015
- Posts
- 85
2MM a Month looking for 500k LOC
Any suggestions? Looking for something that at least masquerades as a LOC. Great banks, Great Taxes, Great Financials, not so great industry Trucking.
Forget factoring or collateral angles. Breakout has a rockstar product but 200k Cap, On Deck is capped, Kabbage is for suckers and they're capped.
Anybody doing some multi-disbursal stuff, or as you pay in you have access to that, etc. that goes to 500k?Last edited by PJLamar38; 02-02-2017 at 07:02 PM.
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02-03-2017, 07:48 AM #2
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
There are several products that address this- and fairly swiftly as well.. Does the client have any other debt? They likely do if they are doing $2M per month- that is the issue.
Their assets (Machinery and Equipment, Inventory, Receivables etc.) are what a lender will write an LOC off of. If they do not have the right to convey the asset (leverage it) traditional lenders will not write a check.
Question is: without collateral why would someone give folks a LOC in an industry that many lenders feel is risky?
ACH is best the way to help these folks- and they need to understand that...
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02-03-2017, 01:44 PM #3
- Join Date
- Mar 2015
- Posts
- 85
MultiDisbursal product, not a true revolving LOC. Thanks for the input though.
I've got this one wrapped up already.
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