[CFSCCorp]

Scenario:

Industry: Car Dealership
Yrs: 52 yrs in business
Annual Gross: 18M
Credit: 800
Dealership R/E worth: 8.5M +/- / balance 6.5M (SBA 3M / Bank Loan: 4m)
State: Texas

Looking for 650,000 (but flexible) for consolidation of some already existing loans that are under 10% and extra working capital with a longer term. (Very rate conscious)

Suggestions? LOC? Term? Secured/Unsecured?

[dpFund]

I could likely get him funds on his dealership at less than 10%, but it would require him to refinance his two existing loans, if he is open to that.

From what you have described above, he has (at least) a couple million that could be pulled from his property.

Feel free to reach out if you would like to discuss. I do a lot of these loans.

Best,

Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com

[Yankeeman07]

Scenario:

Industry: Car Dealership
Yrs: 52 yrs in business
Annual Gross: 18M
Credit: 800
Dealership R/E worth: 15M +/- / balance 7M (SBA 3M / Bank Loan: 4m)
State: Texas

Looking for 650,000 (but flexible) for consolidation of some already existing loans that are under 10% and extra working capital with a longer term. (Very rate conscious)

Suggestions? LOC? Term? Secured/Unsecured?

He has a Bank loan and SBA - do they have restrictions within their contracts to not allow additional funding?
What is securing those loans? Based upon your numbers he is 50% Leveraged

[RichardGerard]

Scenario:

Industry: Car Dealership
Yrs: 52 yrs in business
Annual Gross: 18M
Credit: 800
Dealership R/E worth: 15M +/- / balance 7M (SBA 3M / Bank Loan: 4m)
State: Texas

Looking for 650,000 (but flexible) for consolidation of some already existing loans that are under 10% and extra working capital with a longer term. (Very rate conscious)

Suggestions? LOC? Term? Secured/Unsecured?

If the Real Estate has requisite equity and he is Cash flowing- the SBA 504 Program would likely take out the existing 7a and Bank Loan. Once you have that prequalified you can arrange Bridge Capital to get him to the finish line.

As you likely know Car dealerships have an additional layer of financing with their Floor Plan- so structuring this will likely take awhile-alleging there is enough collateral and net income.

Dan was likely intimating that he would broker a hard money real estate deal to take the bank out of the Real Estate- however very rate conscious clients will definitely shy away from the points charged on these deals. Truth be told however if the client is paying P and I to other notes, a 12 month period of interest only might save him considerable dollars while the 504 is arranged.

[abfunders]

Scenario:

Looking for 650,000 (but flexible) for consolidation of some already existing loans that are under 10% and extra working capital with a longer term. (Very rate conscious)

Suggestions? LOC? Term? Secured/Unsecured?

Let me get you in touch with a source that can help out. Good credit meant the banks can help in good ways. Which banks? That's the trick to the trade. He doesn't need consolidation, but he might want to consider it depending on the rates he'll get. Email me, I'll make an introduction for you to help make you a bunch of money on this deal and the client will enjoy the rates.

Also, I've got a non-bank LOC I work with. Sounds like he's got enough on-hand to UW the file. Rates are a bit higher (can't compete with the bank), but up to 6 months of interest-only.

[GMFunding]

Scenario:

Industry: Car Dealership
Yrs: 52 yrs in business
Annual Gross: 18M
Credit: 800
Dealership R/E worth: 15M +/- / balance 7M (SBA 3M / Bank Loan: 4m)
State: Texas

Looking for 650,000 (but flexible) for consolidation of some already existing loans that are under 10% and extra working capital with a longer term. (Very rate conscious)

Suggestions? LOC? Term? Secured/Unsecured?

Funded something similiar to this with LQD, around 18% cost over 36 months

[RichardGerard]

You mean George and the team at LQD actually funded a deal!!!! Impressive.. Is this a Leap Year?

[wallerbusiness]

Lqd is a joke!