Alternative Funding Options (AFO) recently helped these businesses secure financing:
Accounts Receivable a/k/a Factoring of A/R - A manufacturer was factoring their receivables with a company that was charging them 3% per 30 days on a monthly volume of $250k. AFO was able to find a company that would only charge them 2% saving the company $30k yearly in factoring fees.
Accounts Receivable a/k/a Factoring of A/R – A start up company that does lake dredging couldn’t qualify for a bank line of credit and he just won a large contract for $1m to be paid out in 4 quarterly installments. Once he submitted his invoices quarterly, he would need to wait for 30 days to receive payment. AFO was able to find a factoring company that would factor his invoices which will allow him to bid on other contracts.
Bank Line of Credit and Term Loan - A Radiologist had an existing line of credit with a bank i/a/o $400k and needed an increase to pay for upfront costs to fund hospital contracts. Their bank was unable to increase their line. AFO was able to find a bank that could get them approved in 2 days and funded within a week for a $1m line of credit and a term loan for $400k to pay off the existing line. This increase will allow the doctor to continue to bid on other contracts knowing he has the funds for the upfront costs.
Commercial Real Estate Loan to Foreign Entity – An event planning company based out of London opened up a location in the Tampa Bay area which was less than 1 year old. They had been leasing space and wanted to purchase a commercial building for their business. They wanted the London company to purchase the building – not the company located here. One of the partners resided in London and the other partner was living here and had a primary residence. The purchase price was $1m and they had 30% as a down payment. AFO was able to find a bank that could loan to a foreign entity.
SBA Loan - A manufacturer of Marine LEDs that had been in business for 8 years was looking for a $300k loan to consolidate debt and a $150k line of credit. They had approached a few banks that couldn’t approve them for a SBA loan. AFO was able to find a bank that was able to get them approved for both. The debt consolidation and line of credit will enable the company to increase their revenues with the improvement in cash flow.
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 either offset by the bank reducing their loan origination fee or the lender pays us so it doesn’t cost your customer any additional monies in working with us!