Results 1 to 14 of 14
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05-02-2017, 02:51 PM #1
- Join Date
- Oct 2012
- Posts
- 360
3 million Gross annual revenue merchant ..
has 750 fico .. 8 years in business.. funded him 2 times 250k .. over 12 month 15%
from him
Hi Sam,
We would like to explore our options for a new loan. we want something more flexible and cheaper. Here is what we are looking for:
24 or 36 month term
No daily payments
Ability to prepay
Please advise what our options are
are there any super prime lenders i can bring this deal to on this forum ?
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05-02-2017, 02:56 PM #2
Whats the question? Dan Page.
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05-02-2017, 03:00 PM #3
- Join Date
- Oct 2012
- Posts
- 360
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05-02-2017, 03:11 PM #4
- Join Date
- Oct 2016
- Posts
- 4,318
Dan page is the guy that offers almost an identical type of facility you're seeking. But, as he'd tell you their model is based off of profitability shown on the financials. So essentially you'd need to see $13K in monthly profitability for every $100K in financing being sought.
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05-02-2017, 03:16 PM #5
What kind of business is this?
Sean Hawley
CEO
BLF
Bright Light Freight
shawley@brightlightfreight.com.com
631-210-6327
SBA, Term Loans, LOC, MCA & Equipment Finance (Transportation & Trucking)
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05-02-2017, 03:18 PM #6
- Join Date
- Apr 2016
- Posts
- 103
Would the borrower be willing to pledge RE (commercial / residential)? We can provide monthly payments with terms out to 4-years provided borrower meet guidelines.
Give me a call to discuss.
Sean
LiftForward
917.477.6534
sean@liftforward.com
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05-02-2017, 03:19 PM #7
- Join Date
- Oct 2012
- Posts
- 360
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05-02-2017, 03:29 PM #8
If merchant is okay with weekly payments I can probably get this done for you.
Shoot me a PM here or my email belowSean Hawley
CEO
BLF
Bright Light Freight
shawley@brightlightfreight.com.com
631-210-6327
SBA, Term Loans, LOC, MCA & Equipment Finance (Transportation & Trucking)
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05-02-2017, 03:32 PM #9
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
What industry?
Do they sell to commercial customers or retail?
Kevin.Henry@SeacoastBF.comKevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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05-02-2017, 03:34 PM #10
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,508
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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05-02-2017, 03:36 PM #11
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
You may be able to do a cheaper and more flexible deal for your client. There is a program out that is generally a 2 year loan with interest payments only depending on revenue...Not an MCA. Rates recently in the 15-17 APR range.
Bob Shaw
734-929-3800
rshaw@advancecredit.com
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05-02-2017, 04:21 PM #12
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Funding Strategy Partners product is an advance- in that it is a purchase of future receivables- with a recovery amount. If the client wants a loan there are several options out there that are infinitely more affordable and will close more expeditiously.
FSP has it's market niche. This client is looking for a loan- not a large MCA.. Bob Shaw is spot on above
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05-02-2017, 04:21 PM #13
- Join Date
- Oct 2012
- Posts
- 360
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05-02-2017, 04:23 PM #14
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
Thank you Funder Mark and WestCoastFunding.
Yes, we do offer almost exactly what you are asking. In fact, when we get to the 24 month term the effective cost of funds is actually less expensive than the shorter terms. You nailed it WestCoastFunding with the $13k of net income for every $100k of funding note.
We are not a cash advance funder so we underwrite and fund very differently. Our primary driver for pre-qualification is net income. We need to be sure the client can actually afford the payments (novel approach!). Payments are monthly, not daily. If all looks good on the net income front, we look to the balance sheet to confirm the client is healthy and solvent.
Pre-Payment: We allow the client to pre-pay us at any time after six months. No fees, penalties or interest. Just pay off remaining principle and they are out, just like paying off a home mortgage.
Minimum funding is $100k, max is $2MM, so we can fund the large ones (and quite frankly, prefer them).
Feel free to reach out and discuss.
Best,
Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com
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