Business Loans, who does them

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johncm

470 Posts

Posted - 06/01/2008 : 7:53:18 PM

I have 2 people looking for business loans. Are there any options besides SBA?
One is an P & C insurance Company and the other is a restaurant, Franchised. Both have decent credit and upto 20% down.

dwallace

590 Posts

Posted - 06/02/2008 : 10:01:39 AM

I have a client that has used Capital Resources to acquire a few insurance agencies, www.capitalresources.com. I have not ever dealt with them so I cannot give a reference good or bad.

For the restaurant if there is no real estate involved then your best bet will the SBA 7a program. I am not sure of any other similar programs.

Hope this helps.

swmsn

4205 Posts

Posted - 06/02/2008 : 10:49:08 AM

You can try an Unsecured loan. Email me and I'll send you an App.
660+ lowest credit score.
60% MAX of Gross income from Taxes is what the borrower will receive.
If they are not 100% owners they will need to have all owners on application and use all their info as well.

Why is SBA not a good option. For the Restaurant a SBA7A would be good because you can include working capital, closing cost, equip, etc.. in funds back to the borrower. Maybe the Franchise is on the black list or not approved?

This is not through me but a company I send all of my Unsecured needs to.

EMScommercial

5138 Posts

Posted - 06/02/2008 : 11:27:05 AM

i definately can help you with business acquisition and franchise acquisition loans.... doing 11 right now..... have 19 sources we are direct brokers for who do these types of loans.....

johncm

470 Posts

Posted - 06/02/2008 : 12:36:47 PM

The restaraunt is easier, SBA wants it. Looking for better. The Insurance agency is a different story. No assets really. Office equipment. The value is in the book.
Can do 80% LTV on this. Really looking for 90%.

rdwaryer52

2 Posts

Posted - 06/02/2008 : 1:36:10 PM

Try Butler Capital, 410.771.9600. www.butlercapital.com If the deal looks good, they'll go up to 100% financing, in some cases.

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