Alternative Funding Options (AFO) recently helped these businesses secure financing:
Government Accounts Receivable Financing - A government contractor was factoring his receivables with a factoring company. He won a contract and the factoring company was not able to factor those invoices. AFO was able to find a factoring company that specializes in factoring government receivables.
Bank Line of Credit - A carpet cleaning company that has been in business since 2000 was looking for a small line of credit secured by their accounts receivable. They had tried to get approved with a few banks but because they had a short sale in 2012, were declined. AFO was able to find a bank that could get them approved for $50k.
Commercial Real Estate - An owner of a consulting company that helps implements programs for veterinary practices was a partner in another marketing company that owned the commercial building that both businesses were occupying. The other owner had decided to close the marketing business so my customer took over his clients. The bank that had financed the building called the note i/a/o $950k since the business had closed and could not qualify my customer’s other consulting business. AFO was able to find a bank that could get this approved at a 80% LTV.
Commercial Real Estate and Purchase of Restaurant Business - A well established restaurant group wanted to purchase an existing restaurant and the commercial real estate. They were bankable but looking for the best rates/terms with no Personal Guarantees. AFO was able to quickly identify a bank that could be aggressive with the rates/terms and approve the loan totaling $6.6m at a 80% LTV with no personal guarantors.
Purchase of Existing Business - A couple living in Connecticut was relocating to the area and the husband wanted to purchase an existing bakery. Purchase price was $150k and he had 30% as a down payment. AFO was able to find a bank that could approve him for an SBA loan.
Term Loan - A CPA firm that had been in business for 15 years was wanting to increase their existing line of credit for future acquisitions. Their current bank was not able to approve the increase. AFO was able to find a bank that could consolidate their existing debt to a term loan which lowers their monthly payments, freeing up the line of credit with their current bank for the acquisitions and also approving them for an additional line of credit i/a/o $50k with a corporate credit card.
Please keep us in mind with any of your customers that are in need of financing for accounts receivable or factoring, purchase orders, inventory, asset based lines of credit, equipment, work in progress, business acquisitions, merchant cash advances, unsecured or micro loan programs and for any type of commercial real estate for purchases, refinances or cash outs. We work with customers looking for bank financing (if they qualify) or for alternative.
We know how to structure the deal to find them the financing that they need and negotiate best rates and terms on their behalf. We save your customers the time and effort as well as the frustration in having them go through the process. Our fee is usually offset by the bank reducing their loan origination fee or the lender pays us so it usually doesn’t cost your customer any additional monies in working with us!
- June 2017