My fellow LOs and brokers.
Lets brag about which is the exception or toughest loan you handled recently which the traditional bank or credit union declined.
How did you help that business owner get a higher loan or that self employed borrower qualified?
Fellow borrowers who got helped by brokers in such scenarios can reply as well as a token of appreciation and good karma points :)
Did any small business owners here have refinanced high-interest business loan using a HELOC, or cash-out refinance.
How was the process? Any surprises, challenges, or things you wish someone had explained earlier?
I am researching Noble Business Loans, also branded as Noble Funding, for a larger working capital request. Its site says the company offers several structures and also uses a partner network, with a stated minimum funding amount of one hundred thousand dollars.
That range may fit what I need, but I would want each proposal to identify whether Noble or another lender is providing the money. I would also want the full rate or factor, fees, collateral, personal guarantee, payment schedule, and early payoff terms shown clearly before choosing an offer.
Has anyone completed financing through Noble Business Loans recently? Did you receive several genuinely different options, and were the final documents consistent with the pricing and structure presented at the start?
I'm looking into a loan against business assets using receivables and inventory rather than real estate. What worries me is that the credit limit seems to be based only on eligible assets, so older invoices, customer concentrations, slow moving stock, or unfinished goods may be discounted or excluded.
That could leave a business with plenty of value on paper but much less borrowing capacity than expected. I also want to understand how often lenders ask for borrowing base reports, appraisals or audits, and whether they usually take a blanket lien.
For anyone who has used asset based financing, how close was the approved line to your receivables and inventory balances? Did reporting requirements or asset exclusions become a bigger headache than the interest rate?
A "friend" planned to make a documentary film in Montana. I invested $10,000 into her LLC along with some other people. The promissory note was for 24 months. She wasn't making any progress on the project (in fact, abandoned it) and at the 24-month mark, I called in the note. She said there was no money left in the LLC (which originally contained $65,000) therefore she couldn't pay me back.
I've had conflicting opinions: 1--no money in LLC means she doesn't have to pay me back, even if she has money in a personal bank account somewhere; or 2-- she is liable for the note because she signed her name as the owner of the LLC. Does anyone know which one is true? -- because I'm considering legal action. She is now two years past the repayment date. (I live in California). Thank you!
I have a contracted investment opportunity that will make 5% a month that I'm looking to fund. I need a min of 200k but more is of course better in this case. The numbers have to make sense too.
I have several businesses from brand new to existing but not enough existing cash flow to cover the loan.
I need a lender who will look at the contract and fund based on it vs existing cash flow.
Can anyone help??
Dental specialist here, opening a solo startup. Looking for your thoughts about possible options for financing.
I'm not signing a traditional lease or doing a buildout. I'll be using operatories and shared common areas inside an existing specialty practice under a license agreement.
While this keeps my costs very lean, the problem I’ve run into is that after talking with a large national bank's practice lending team is that they only offer secured loans backed by collateral, and with my setup they don't see anything they can use as collateral, so I'm not eligible.
I am looking to finance in the ballpark of $100,000 for initial working capital and equipment. I know on some equipment I can finance through the vendor.
What I'd like to know:
Appreciate any leads. Happy to share what I find once I get this sorted.