Alt Funding Options (AFO) recently helped these companies secure financing:
SBA 7a Loan – A General Contractor had some high interest debt in which he wanted to consolidate and get a Line of Credit. AFO was able to find a bank that could approve a GC through a SBA 7a loan. The GC saves $6,000 monthly in interest which improves his cash flow and the line of credit will help fund upfront monies towards large contracts he was awarded.
SBA 7a Loan Construction to Perm – A business owner had a catamaran business in Clearwater and wanted to get a loan for $1m to have a larger catamaran built. He owned his current boat free and clear estimated to be valued at $600k to be used as collateral. He didn’t have any cash to put down nor any other collateral for the loan. After an extensive search, AFO was able to find a bank that could approve him for the full amount. After the construction is complete, the business owner will sell his current boat and reduce the loan terming out the difference. The larger boat will allow him to double his current capacity and host more weddings and corporate events.
Equipment Loan – A tree trimming company was looking to replace some used equipment and buy some new totaling $150k. His credit score was low so he was having a hard time getting a bank to approve him. AFO was able to find him equipment financing at reasonable rates through an alternative finance company. This will allow him to expand his business and reduce repairs on the used equipment.
Commercial Real Estate Loan – A couple was wanting to buy an existing non flag hotel in Sarasota for $1.5m. The hotel was cash flowing, they had 30% to put down with prior experience in owning a hotel. They had been to several banks and were not able to get approved and they didn’t want a SBA loan. AFO was able to find them traditional financing with a bank.
Factoring of Accounts Receivable – A distributor was looking for a line of credit with a bank but could not qualify for one. He had $100,000 outstanding in his accounts receivable and this was causing cash flow issues. AFO was able to secure him receivable financing in which he was immediately advanced 85% of his current outstanding invoices and will be able to submit new invoices going forward.
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 that 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!