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Alternative Funding Options | Recently Funded Transactions – July 2018

All Funding Options (AFO) recently helped these companies secure financing.

Work in Progress (WIP) and Receivable Financing – A manufacturer of a specialty dessert landed 3 large contracts with National Food Chains. This can increase his yearly revenues from $100,000 to over $20 million by end of 2019. Once the orders arrive- he will need upfront monies to pay his suppliers for the raw materials so that he can make the product, package it and ship to his customers. Once they receive the product – he can invoice them but they are requesting 30-45 day payment terms which will create cash flow issues. AFO was able to find him WIP financing that will pay his suppliers upfront and then when he invoices his customers the Receivable Financing will advance monies against those invoices paying off the WIP financing and giving him the difference. Without this type of financing, he would have had to decline the business or get an equity investor which he didn’t want to do.

Commercial Real Estate – A dentist was leasing space for his 2nd location and an opportunity became available in which he could purchase some property in which he could move his 2nd location to. This property was requiring some renovations so he was looking for 100% financing including the renovations cost. His bank and several others couldn’t approve him for this so he was referred to AFO. We were able to find a bank that could loan him the 100% which was a loan amount of $325,000 at a fixed 15 year rate and term of 4.89%. They also were able to offer a LOC to cover his renovations cost.

Commercial Real Estate – A commercial cleaning company in Coral Gables was leasing space for his business and was ready to buy some property. The purchase price was $340,000 and he had 20% to put down. There was a sense of urgency in getting this loan approved and closed within 5 weeks. AFO was able to find a bank that got him approved within 4 business days and closed in his timeframe at a fixed rate of 5.09% for 7 yrs. with a 25 yr. amortization.

Purchase Business with no Real Estate – A couple was looking for financing to purchase an existing day salon for $190,000. The husband already owned a car repair service and his wife was working in a day salon but wanted to own one. An opportunity presented itself in which one came available at a reduced price. They had looked at this spa previously but felt it was overpriced. They were not able to get this approved with their current bank as well as a few others. AFO was able to find a bank that could approve this conventional with 20% down at a fixed 7 yr. rate and term at 6.25%.

Refinance a Note on C-Store Property – Two partners owned a C-store with gas pumps and the one partner wanted to be bought out. The other partner had the monies to pay him but they both were guarantors on the mortgage to the bank. In order to remove the one partner, they needed to refinance i/a/o $1.1m at a 60% LTV. The existing bank could not get him approved since they were going through an acquisition. He went to another bank and they couldn’t approve him within their guidelines so he was referred to AFO. We were able to find a bank that could get his loan approved at a fixed rate of 5.25% for 5 years with a 20 yr. amortization.

Please keep us in mind with any of your customers that are in need of any type of financing either through a bank or an alternative source. We know how to structure the deal to find them the financing they need and negotiate the best rates and terms. We save your customers the time and effort in having to go through the process and it usually doesn’t cost them any additional monies in working with us!