Alternative Funding Options (AFO) recently helped these businesses secure financing:
Accounts Receivable Financing aka Factoring – A manufacturer of metal parts for the automotive industry was experiencing cash flow issues with his customers paying their invoices in 45 days. They currently average $100k monthly outstanding in their A/R. AFO was able to secure them accounts receivable financing. They submit their invoices and are funded within 48 hours which gives them the cash to meet weekly payroll and to order inventory. They are also able to pursue larger accounts that were requiring 30 day terms that they were having to decline.
Asset Based Loan (ABL) – A company that does IT recycling had a Bank Line of Credit i/a/o $1m that came up for renewal and the bank could not approve it based on their prior year numbers. They were generating $20m yearly in revenues. AFO was able to get them approved for an asset based line of credit with a higher limit which will allow them to grow and make them bankable again in the next year.
Bank Line of Credit – A Canadian investor group that owned residential properties in the area, all free and clear and valued at $2.2m was looking for a bank line of credit for $1.2m so that they could buy more properties. AFO was able to secure bank financing for this group.
Commercial Real Estate Loan (Refinance) – A medical equipment company was buying out a partner and needed to refinance his commercial real estate loan and line of credit. He was having difficulty in finding a bank that could approve him for a non SBA loan. AFO was able to find him a bank that approved him for a $1.5m real estate loan at a 85% LTV and a $300k line of credit.
Commercial Real Estate Loan (Cash Out) – A convenience store owner needed $400k to pay outstanding taxes due and for some remodeling on her property. She owned the real estate free and clear, valued at $800k. She could not qualify for a traditional loan due to her prior years losses, low FICO score and having the unpaid taxes. AFO was able to find a lender to finance the deal at a higher interest rate, interest only for 3 years so when it balloons, she will then qualify for bank financing. The remodeling will allow her to generate more revenues so her financials will improve and she should be profitable soon.
Please keep me in mind with any of your customers that are in need of financing for purchase orders, accounts receivable or factoring, inventory, asset based lines of credit, equipment, business acquisitions, merchant visa/mastercard advances, some unsecured or micro loan programs and for any type of commercial real estate for purchase, refinance or cash outs.