Alternative Funding Options (AFO) recently helped these companies secure financing:
Factoring of Accounts Receivables – A distributor signed up a large new customer that was going to pay him in 45 days which was going to cause him cash flow problems. He had a line of credit with a bank but they could not increase it. AFO was able to work with his bank in subordinating their lien position on that new customer so that he could factor those invoices.
SBA Loan – A local gym owner had some high interest debt totaling $300k that he wanted to refinance at a lower rate, finance some new equipment totaling $50k and get a line of credit for working capital needs. He had been declined at several banks. AFO was able to find a bank that could approve him for the debt consolidation which will save him $10,000 a month, financing of the equipment and a $150,000 line of credit.
Foreign National – A foreign National was wanting to buy a hotel on the beach for $1m as an investment. AFO was able to find a bank that would finance the purchase at a 75% LTV, fixed 5 year rate at 5.25% on a 20 year amortization.
Refinance Note on Commercial Real Estate – A manufacturer of custom cabinets and furniture had their note maturing on their commercial building. Their current bank could not qualify them for a renewal due to declining revenues. AFO was able to find them financing through an alternative source. Since they were at a 55% LTV, they qualified for a 5 year fixed rate at 6.75% on a 25 year amortization.
Unsecured Term Loan – A discount auto store was looking to open up 3 more locations and needed $250k for the expansion. He could not qualify for any type of bank financing. AFO was able to get him approved through an alternative source for that amount at a 8% interest rate for a term of 60 months.
Bank Line of Credit – A couple that lived out of state owned an investment condo on Treasure Island under their LLC. It was valued at $900k and they owned it free and clear. They were looking for a LOC using the equity in that condo as collateral so they could purchase another investment property. AFO was able to find a bank that approved them at a 75% LTV with a rate of Prime plus 1%.
Refinance Note on Commercial Real Estate – A sign manufacturing company had a $1.2m note maturing on their commercial building. They were looking for a bank that could offer a fixed 15 yr. rate/term. AFO was able to find a bank that could refinance at a 85% LTV with a fixed rate of 4.79%. They also were approved a $100k line of credit.
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, business acquisitions and for any type of commercial real estate – owner occupied or investment. 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 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!