We had the pleasure to help a past client who needed a boat loan and wanted to put it under the name of their business. The owner and her husband felt for sure they were going to need a hard money loan because their banker told them their boat loan can’t be in the name of their business and the financing person at the boat dealer said the business does not show enough income to qualify for a bank loan.
When they reached out to us they were hoping for maybe a hard money loan with an interest rate of around 10%.
We updated our past financial information from their last loan and added back allowable expenses that easily qualified them for A+ bank pricing. They ended up getting a 7-year fixed rate loan at 5% and it was for 80% of the sales price.
If you are looking for paw-some pricing on your business loan let the Best Business Loans in Town find you the purr-fect lender.