I know it's probably a longshot but figured I would at least ask.

I've been in the field for 6 months and love it-I work for a small firm in Denver,CO. My focus is primarily hard goods for small and medium businesses. The primary lenders I work with are mainly B and C credit, start-up, etc.

I have had a lot of inquiries lately regarding secured and unsecured loans, mainly between $75,000-$150,000. We don't typically do these because they can be a pain in the ass and high risk. Customers scoring over 700 usually get these through traditional banks-the inquiries I have been getting lately have been scored between 550 and 700. Anyone know someone(friends,family,neighbors) in the commercial finance field that may take a look at these deals?

Also, I know the rates we charge for these loans, anyone know what the typical rates are for people under 680 with qualified collateral are? I don't have the time to call and set up meetings with lenders, yada yada...like I said shot in the dark.....

7/19/2007 4:28:46 PM

The way my position is goaled, I don't really look at much under the million dollar mark (and I refer equipment finance out to leasing most of the time), but the smaller requests do tend to roll in and I get most of them done (although as you've pointed out they typically have a lot of blue sky - the interesting part is I don't usually see collateral on those types of deals and that's the problem, it's mostly new companies that need WC lines).

I just took a look at a deal that wouldn't work for $150M and the lady said they had an offer from "Commercial Direct" that wasn't outrageous on the rate and the terms were better than typical bank financing and she said they weren't local so they may field deals from your area. I've also got something from a company in VA that I sent something to earlier this year, I'll see if I can find it.

7/20/2007 8:07:24 AM