Results 1 to 5 of 5
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02-01-2023, 05:03 PM #1
- Join Date
- Mar 2016
- Posts
- 123
MCA consolidate to term loan
Who has a true MCA consolidation from weekly payments to monthly long term?
Client has 4 positions totalling $302k. Making their payments but want out of the weekly pmts.
Anyone doing a 3 to 5 year term on these with monthly payments and much lower interest rate?
See signature for direct contact info.Mike Lewis - commercial real estate loan broker / owner
No up front fees loan broker
Commercial real estate loans: Acquisition, refinance, construction and FAST bridge loans from $200k +
tel/voicemail: 937-964-5355
cell/voicemail: 440-637-5646
corporate email: mikelewis@michaellewisgroup.com
www.linkedin.com/in/cigarmike
Veteran Owned
WE CO-BROKER with an even 50/50 split and we both get paid by wire at close.
We issue a combination mutual NDA / fee split, you introduce your CRE clients to us stating simply we handle your commercial real estate loans, we take it from there and keep you in the loop. When a loan you referred closes, you get paid at close by wire.If you can work with that please do not hesitate to contact us. Our loan forms are vanilla with no company name.
Michael Lewis Group Commercial real estate loans
http://michaellewisgroup.com/index.html
Loan Matrix
Forms
About Us
Discounted cell phone plans starting at $15 / month. AT&T from $30/mo, T-Mobile from $15/mo, Verizon from $35/mo.
http://arthodyd.com/d.html
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02-01-2023, 05:22 PM #2
Mike - SmartBiz uncollateralized SBA $350,000 10 years 10%, Funding Circle 5 years in the 20's. Do they qualify? Need cash flow, Fico, making money....Channel Partners offers monthly but probably not work here. Also personal loan up to $250,000 if Fico over 700, gross income from personal tax return. Reach out if you need help. And you would know if they have property for hard money. Assets for ABL? A/R?
Last edited by Olderguy; 02-01-2023 at 05:27 PM.
Steve Benjamin
Professional Business Loans
1012 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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02-01-2023, 09:18 PM #3
- Join Date
- Apr 2021
- Posts
- 45
no reason to go to smarbiz, they are a sba broker shop. just find a few small or lager sba lenders and go direct. send deal to me. ill do it for 1% fee. 7a or 504 sbas.
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02-01-2023, 09:51 PM #4
- Join Date
- Mar 2016
- Posts
- 123
Oh... they're making $. Started 2008, like I said able to make their payments ok, just don't want the weekly payments and the principals FICO is 720.
They want to consolidate the $300k, and get an additional $200k +/- for opex. So over all a $500k term loan.
Term doesn't necessarily need to be 5 years and a quicker close than later is desired.
But definitely not another MCA consolidating all of this. And no ABL as they lease the building.
This is not my forte as I do CRE based loans so looking for feedback.
Bur yeah, cash flow, decent credit, paying salaries etc...Mike Lewis - commercial real estate loan broker / owner
No up front fees loan broker
Commercial real estate loans: Acquisition, refinance, construction and FAST bridge loans from $200k +
tel/voicemail: 937-964-5355
cell/voicemail: 440-637-5646
corporate email: mikelewis@michaellewisgroup.com
www.linkedin.com/in/cigarmike
Veteran Owned
WE CO-BROKER with an even 50/50 split and we both get paid by wire at close.
We issue a combination mutual NDA / fee split, you introduce your CRE clients to us stating simply we handle your commercial real estate loans, we take it from there and keep you in the loop. When a loan you referred closes, you get paid at close by wire.If you can work with that please do not hesitate to contact us. Our loan forms are vanilla with no company name.
Michael Lewis Group Commercial real estate loans
http://michaellewisgroup.com/index.html
Loan Matrix
Forms
About Us
Discounted cell phone plans starting at $15 / month. AT&T from $30/mo, T-Mobile from $15/mo, Verizon from $35/mo.
http://arthodyd.com/d.html
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02-02-2023, 12:09 AM #5
Let me clarify this for Mike and others who might be interested. I posted this in case Mike might want to go direct and sign up on these funding options. SmartBiz has several banks to submit and audit a file and they are very helpful in guiding you through the process. In addition, they will pay you 2% which is the same commission you would get with a direct SBA bank. And SmartBiz also will submit your file to Funding Circle for a term loan if the file gets denied for a SBA loan. I posted that for those that are looking to sign up for someone who can access and help for these loans. Anything over $350,000 is collateralized and I have direct connection with management at NewTek for those loans. Newtek is the largest non bank SBA lender in the US and you always want to use a non bank SBA lender as they have more flexible guidelines and will allow a merhant to collateralize business and personal assets. Again I encourage any to reach out to me if they need help with any of this.
Steve Benjamin
Professional Business Loans
1012 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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