Here are some scenarios we have found worked for our clients in the past….
We work with even the unbankable. A corporate client has had several defaults with lenders, and credit is in the dumps. We arranged a loan that used existing equity on their personal home that changed their large daily payments into a manageable term loan, extending the term and paying off the initial lenders.
For our clients that need bank-related materials, we have refinanced their $500,000 investment property. took out a new mortgage on it, refinancing all of their debt into a classic mortgage. We didn’t beat the bank rates, but we got it done in 3 weeks.
We can arrange a Line of Credit using second positions with existing equity as well.
Instead of paying daily cash advances, with balances in the neighborhood of $2 million, arrange an SBA loan to refinance everything from scratch, paying off your lenders, and lowering payments 90%, into a term loan over 10 years.
We had a client who has been in business for years, had a bankruptcy after a divorce, and whose fiance had fantastic credit. We arranged a series of 0 APR credit cards for $70,000 to pay off all of her cash advance debt (daily payments), and put her into a solution where she’s paying 3-5% monthly towards the balance, and not towards interest. She’ll be debt free in 2 years, and liquid the entire time. We also introduced her to a credit repair agency.
Use this in place of a term loan.
A client of ours was 4 years Time in Business, he had built up some business credit. He has balances of $20,000 at 3 cash advance lenders, paying $450/day. We were able to arrange a solution (not a loan) that he was going to be paying $650 monthly towards his debt.
If you are billing credit-worthy institutions, you should clearly be either leveraging your A/R. There are two ways to do it: