Bridge loan (30%+) - $300-500k needed fast for client
October 17, 2024
by an investor from Harvard University - Harvard Business School in Tampa, FL, USA
I have a client that needs $300-500k bridge loan, very fast. $600k of financing fell through this morning that was supposed to fund tomorrow.
Willing to accept 30%+ interest, weekly payments, minimum return, pre-payment penalties, PG, etc.
This is backstopped by $3.5 million confirmed & pending from the SBA within a couple weeks. Already have executed bank documents.
If anyone has ideas or contacts, let me know!
Business summary:
Profitable
Mid-atlantic located, half government contracting (staff augmentation), half private business
In business for 10+ years
$3+ mm open A/R
$3+ mm revenue so far this year
Previously took inefficient MCAs, will be healthy from a financing perspective with SBA $3.5 mm coming soon
Feel free to email direct if you have any contacts that can execute very rapidly: redacted or###-###-####
in Detroit, MI, USA
Could use seller equity as part of the capital stack also along with seller note.
from University of Maryland at College Park in Annapolis, MD, USA