Seeking Non-Recourse Acquisition Term Loan (Non-SBA)

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by an intermediary from Harvard University - Harvard Business School
in New York, NY, USA

1yr ago

Seeking Non-Recourse Acquisition Term Loan (Non-SBA)

I've got a company under LOI. I am seeking a $3 million non-recourse acquisition loan based on cash flow of $1 million. I am not seeking SBA financing. Any recommendations? Alan Donenfeld redacted redacted

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reply by a searcher 1yr ago
from Georgia Institute of Technology in Kansas City, MO, USA

After my partner and I did our first deal, we thought to ourselves that it would be the first and last time we would have to PG a loan. Fast forward almost 10 years and 10 completed deals...still have to PG on loans this size, SBA or not. ABL is different for sure though.

The key in my is my mind is to structure your assets such that you can quantify the cost of the PG. For example, my wife and I bought a piece of land via an LLC. We used our primary residence as part of the collateral. When the bank learned that they would be in a junior position to another commercial loan on our house, they removed it from the PG.

The best type of person to talk with about this approach is a bankruptcy attorney.

reply by an intermediary 1yr ago
from Northwestern University in Chicago, IL, USA

We are working with a very private company that will make a $3million non-recourse loan to an experience and qualified borrower/investor; Call Joey Bachewiczredacted