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09-01-2021, 04:14 PM #1
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
We just funded a $2M SBA Loan- and Line of Credit, for a client referred by another Broker. We arranged to refinance equipment debt, provide working capital and provided a 500k Health Care revolver as the client is receivable intensive. Originating Broker received 40k. CLIENT SAVED OVER 50K PER MONTH AND CASHED OUT!
In 2020 (with COVID) we arranged over $30M in SBA loans- the largest was for $4.7M and the other Broker received 94k.
Not all Brokers have a familiarity regarding which banks desire to deploy Capital (for particular business types), how they view Collateral and Cash flow. IMPORTANT. Also: whoever you work should make sure the Financials are correct before submission. Problems with discrepancies and debt not listed on the balance sheet will make the painful, and potentially lengthy process- drag on. After all time is money.
For deals like this we act as the 'Consulting Division' to Partner Brokers. They get to run point on the process and we all work together to close the deal.
Feel free to touch base if we can provide value.
https://beforeyouborrow.com/brokers-white-label/
richard@bccusa.com
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