That’s right-no real estate required! This is something I have wanted for a long time to cut through the red tape of government loans and get money to the people making it happen. Now I have it! Here are the details:
– Loan size ranges from $500k – $7.5M to companies incorporated and located in the US and that have $1M or more in annual revenue and positive net income
– Average time to close-Three (3) weeks to underwrite and fund a loan
– We lend to all industries except restaurants, construction projects, and residential real estate
– We offer loans for working capital, equipment financing, factoring acquisitions, partner buyouts, and bridge loans
– The collateral is a UCC on the business and a personal guarantee of the owner(s) of the business- NO REAL ESTATE REQUIRED
– Loans have 14-18% interest and 6 – 30 month terms
The key is quick decisions and closings. Capital for business with no real estate needed. It is a great bridge to an SBA Loan. I had one deal where I had submitted it SBA and gotten it approved for the purchase of the business. When the borrower filled in the 1919 form he shared that he was not a US Citizen and did NOT have a Green card. He had applied, but the process could take months to even a year to get approval for the Green card. Enter this bridge fund which will allow him to close on the purchase and then, when his Green card comes in, just refinance us out to an SBA loan. This is just one of the MANY uses for this fund. So if you have a deal that is business only and the banks and the SBA can’t do it, but it makes sense and it is a good business with decent sales, give me a call! This may be the perfect solution for that loan!
Karen Schimpf
(512) 358-1511
karen@applycommercialloans.com
Give me a CALL TODAYÂ at 512-358-1511Â or get started by filling out this form!
P.S. We package the deals well and send them to the right lenders but I have never had success like this. Then I realized, the banks are tightening on even the good borrowers. SO even though I AM STILL getting turn down deals, (I am the place to go when the banks say no), the quality of the borrower getting denied is much better. These loans are easy for me compared to what I am used to. SO I SAY ALL THAT TO SAY, IF YOU OR SOMEONE YOU KNOW HAS BEEN DENIED SOMEWHERE, DON’T GIVE UP. Give me a call at 512-358-1511.