Collateralized loans or sale/leaseback of equipment

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June 02, 2021

by a searcher from Hillsdale College in New York, NY, USA

We have a deal that is ready to go on a company in Florida with $1.3-1.4M in EBITDA and $4M of equipment (at resale value). We are looking for financing of at least $3.5M on the equipment and a separate working capital line of credit (secured by $1M in net receivables).

Does anyone know a good bank or equipment leasing firm in Florida that I should contact about this? No PG is possible for a variety of reasons, but the setup is otherwise quite good for a lender.

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Reply by a searcher
from University of Pennsylvania in Miami, FL, USA
Hi Jonathan...best bet is to try local banks. you can also try ACCORD Financial.....they are good folks who lend in these situations.
Also, will be tough to hit your bogie. Equipment is usually 50-60% of appraised value (which is usually through some type of liquidation process) and receivables are usually around 85%.
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