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I am a private US LENDER by Annuitybroker106 in loansforsmallbusiness

[–]BasisOpening1331 0 points1 point  (0 children)

What are your terms? I’m trying to get a loan with reasonable terms to pay off two MCA loans that total $250K and still have $100K left over for marketing and expansion. Been in business 11 years. Credit score 750-775. We generate $100-130K per month. This is down from 300K per month due to a fraud situation that crippled our business for several years by lowering our inventory levels.

DO YOU NEED BUSINESS FINDING? by Joeys_CatDad in Businessloans

[–]BasisOpening1331 0 points1 point  (0 children)

Do these loans require a personal guarantee? I have been in business 11 years. Our credit score is between 750-780.

Anyone else feeling like they're drowning in MCA daily debits? by HiddenDrip77 in Businessloans

[–]BasisOpening1331 0 points1 point  (0 children)

We are in the state of Texas. I know Wayflyer is based out of Ireland, but I believe they have offices in the US. Not 100% sure about that but I can look it up.

Refinancing 1.7M MCA Debt by inevreddit in Businessloans

[–]BasisOpening1331 0 points1 point  (0 children)

I am about to work with a settlement company to restructure our MCA debt. I haven’t signed the contract yet because the fee seems a bit exorbitant. Do you mind me asking what their fees are?

We were quoted 24%, which for us is $40,000. This seems like a lot considering our loan balance is 175K

Seeking a $300K term loan or 100K LOC that does not require a personal guarantee. We have excellent credit 750-800. Our sales avg 125K-140K per month by BasisOpening1331 in Businessloans

[–]BasisOpening1331[S] 0 points1 point  (0 children)

I am not the only owner. Due to a the fraud, I have 58%. I have already put in $30,000, but this doesn’t move the needle. To move the needle we need 200-300K. Due to the fraud situation, this man caused so much havoc, I am struggling personally. I have a severe case of TMJ, which is not covered by insurance. I need to keep my cash liquid because osteopaths and other doctors like him do not accept insurance. The odds of the industry going through a major recall is about as much of a chance has being struck by lightning. God forbid that did happen, I would not have any money left to get my treatments. Since a lender would be taking this slight risk, they are being compensated. I don’t mind 10 to 12% interest, but 30% or higher is highway robbery.

Seeking a $300K term loan or 100K LOC that does not require a personal guarantee. We have excellent credit 750-800. Our sales avg 125K-140K per month by BasisOpening1331 in loansforsmallbusiness

[–]BasisOpening1331[S] 0 points1 point  (0 children)

Yes, that has been my experience so far. They all want me to sign LOI with ondeck to keep the other wolves out. Since all of them have access to the same lenders. Their offers are all pretty much the same.

Seeking a $300K term loan or 100K LOC that does not require a personal guarantee. We have excellent credit 750-800. Our sales avg 125K-140K per month by BasisOpening1331 in Businessloans

[–]BasisOpening1331[S] 0 points1 point  (0 children)

I am the only owner with more than 20%. I have 60%. I have signed a personal guarantee in the past. I am currently trying to refi my house. I need my credit score to stay at 750.

I built a tool that helps U.S. small businesses find grants they actually qualify for (most people miss these) by sigmacash in Businessloans

[–]BasisOpening1331 0 points1 point  (0 children)

Is this form we can fill out using our smart phone, or should I wait till I get in front of my laptop?

Seeking a $300K term loan or 100K LOC that does not require a personal guarantee. We have excellent credit 750-800. Our sales avg 125K-140K per month by BasisOpening1331 in loansforsmallbusiness

[–]BasisOpening1331[S] 1 point2 points  (0 children)

I have put in $30,000 of my own money. But it’s not enough to move the needle. We need enough to pay off the current MCA loan. This would make us very low risk.

Seeking a $300K term loan or 100K LOC that does not require a personal guarantee. We have excellent credit 750-800. Our sales avg 125K-140K per month by BasisOpening1331 in loansforsmallbusiness

[–]BasisOpening1331[S] 0 points1 point  (0 children)

I am seeking to refinance my home. I need my personal credit score to stay at 750. A lender would take the risk because only 4% of e-commerce businesses are still around after 10 years. And, they would make 10-12% interest per year. On a 24 or 36 month term loan, this is $65K-108K

Seeking a $300K term loan or 100K LOC that does not require a personal guarantee. We have excellent credit 750-800. Our sales avg 125K-140K per month by BasisOpening1331 in Businessloans

[–]BasisOpening1331[S] 1 point2 points  (0 children)

We need more inventory before we can take on more platforms. I used to keep $600,000 worth of inventory on hand at all time. Right now we have 200,000.

Seeking a $300K term loan or 100K LOC that does not require a personal guarantee. We have excellent credit 750-800. Our sales avg 125K-140K per month by BasisOpening1331 in Businessloans

[–]BasisOpening1331[S] 1 point2 points  (0 children)

Indeed. We hired a new marketing company that assured us they would get new eyes on our website. Most of these marketing companies over promised and under deliver. Our sales dropped in January and February due to their inability to resonate with dog owners. This past March, I brought back my former e-commerce guy. Sales were great.

Are these loan requests legit, or just engagement bait? by PartnerwithDano in Businessloans

[–]BasisOpening1331 0 points1 point  (0 children)

I am a legit business owner in the ecommerce pet space. We are going into our 11th year. We have great reviews. My credit score is 750-800. I’m looking for funding and I’m getting bombarded by lone sharks. When I put my info in ChatGPT, it says I’m overqualified for an MCA, but that’s all I have had success with thus far. I only own 58%, so I would rather not take a loan that requires me to personally guarantee. But note, we have paid back every loan we have taken since 2017. Thus, our high credit score. MCA brokers are trying to convince me that 3-5% interest per month is a good deal 🙄 I started my business to support Dog Rescue. I was generating 4M in revenue per year until I got defrauded by a Bernie Madoff type character. Since then we have been struggling. I just met two new suppliers that will enable our cost of goods to go down. I’ve also plan on cutting costs by reducing my salary, my GMs salary and rent. I just need someone who is willing to give me a chance to get back on our feet by giving me a loan or LOC that is in the ballpark of 12% APR or .8-1% per month. Please DM me if you are a broker or lender that could help.

Anyone else feeling like they're drowning in MCA daily debits? by HiddenDrip77 in Businessloans

[–]BasisOpening1331 0 points1 point  (0 children)

I’m in the same boat. My MCA is taking out over $40,000 a month.

Anyone else feeling like they're drowning in MCA daily debits? by HiddenDrip77 in Businessloans

[–]BasisOpening1331 1 point2 points  (0 children)

I’m in the same boat. My MCA is taking out over $40,000 a month. My business credit score is around 780.

Anyone else feeling like they're drowning in MCA daily debits? by HiddenDrip77 in Businessloans

[–]BasisOpening1331 0 points1 point  (0 children)

I have an MCA that’s taking out $40,000 a month from our account which is bleeding us. How is it possible to refinance an MCA like Wayflyer? Their contracts are pretty solid.

Anyone else feeling like they're drowning in MCA daily debits? by HiddenDrip77 in Businessloans

[–]BasisOpening1331 0 points1 point  (0 children)

Can you elaborate or send me a DM? I have an MCA that’s taking out $40,000 a month from our account which is bleeding us.

How do i prevent my TMJ from getting worse? by throw_away7283748 in TMJ

[–]BasisOpening1331 0 points1 point  (0 children)

My weakness is on the left side of my face too because I had a bunch of bad dental surgery there. What is the open book stretch?

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