Recent Subprime SBA Closings - Oil Co. Business Purchase, Golf Cart Co. MCA Consolidation

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Good Morning,

Below are recent subprime SBA loans we provided for borrowers who were turned down by other SBA lenders or didn't believe they could qualify for SBA financing.

All rates were prime + 2.75% (currently 7.5%), the same rates most conforming SBA lenders charge.

$710,000 Business Purchase - Oil Field Machine Co.

This business was located in rural Idaho (population 363), had no commercial real estate, and declining revenue due to the sluggish oil industry. We financed 91% of the project costs, which included $65,000 of working capital, and $28,000 for new machinery. The loan was amortized over 10 years, with no prepay penalty.

$627,000 MCA / Debt Refinance - Golf Cart Sales Co.

This profitable golf cart sales business had trouble obtaining a competitive loan due to its collateral type and existing alternative business financing. We refinanced the business location which was land with corrugated metal structures, and paid off a 30% merchant cash advance and an 18% alternative business loan.

We're the only company offering subprime SBA loans for borrowers with credit down to 550, unique businesses or property, no or limited hard collateral or other financing barriers.

I look forward to hearing from you or feel free to apply here for a $30K to $20M+ business loan (it takes only a few minutes and it won't affect your credit).

Veterans and first responders pay zero due diligence costs until a loan commitment has been issued.

Anyone can sign up as a referral partner and earn up to a 2% referral fee for each funded referral.

Best,

Matt Naughton
SVP, Business Lending
South End Capital Corporation
Schedule a Call | E | W

SECC CFL License # 603L334

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