[CFSCCorp]

Scenario:

Merchant needs 60k. Cashflow averages only 20k per month.

Has access to Real Estate. A single fam residence in NY. PV 1,000,000+ Currently has 350k in 3 mortgages. Needs 60k cash for expansion. Will consolidate 3rd mortgage of 40k with 60k if need be and remain in a 3rd position for a total of 100k.

Looking for 60k, flexible on terms. His cash flow is obviously insufficient for an MCA for this amount and he has no fico score. So ... I'm thinking hard equity or bridge loan? (60k may be too small for bridge?)

Any hard equity/bridge loan lender anyone can advise? merchant and property in NY.

Thanks

[Zach]

Scenario:

Merchant needs 60k. Cashflow averages only 20k per month.

Has access to Real Estate. A single fam residence in NY. PV 1,000,000+ Currently has 350k in 3 mortgages. Needs 60k cash for expansion. Will consolidate 3rd mortgage of 40k with 60k if need be and remain in a 3rd position for a total of 100k.

Looking for 60k, flexible on terms. His cash flow is obviously insufficient for an MCA for this amount and he has no fico score. So ... I'm thinking hard equity or bridge loan? (60k may be too small for bridge?)

Any hard equity/bridge loan lender anyone can advise? merchant and property in NY.

Thanks

World Business Lenders can lend in up to the 4th lien position against real estate. We will also utilize owner-occupied properties as collateral, in case it is the owner's primary residence.

If the borrower has $20,000 of monthly revenue, my loan size will likely be capped between $40,000 and $60,000. Our terms will fluctuate depending on the borrower, but generally speaking we can lend for multiple-year terms.

This transaction sounds like WBL would be one of the very few (or only) options available. I'd love to speak with you about this one when you have some time.

[CFSCCorp]

Right, I recall considering WBL for this previously. Question: I know WBL offers weekly payments? Any chance of monthly payments? And also what's the longest term available? Whats the prepayment penalty if any?

[CFSCCorp]

Also it's a merchant's relative's property. (his father's).

I recall being told that's okay... as in an outside party can pledge their property for the merchant? correct?

[Zach]

Also it's a merchant's relative's property. (his father's).

I recall being told that's okay... as in an outside party can pledge their property for the merchant? correct?

There are certain questions that I cannot answer in public forums here, but I'd happily send you an email detailing our process and what we can do here.

What's the best email address for you? You can PM it to me if you'd prefer.

[dpFund]

Sounds like Zach is pretty much your only option here. He will be square with you and treat you right.