Monday, May 18, 2009

Interest Expense Reduced by Over 50%!

Almost every business borrower will tell you that in today's current environment it is tougher to get a business loan and the lenders are charging higher rates of interest.

My client, a three year old healthcare staffing company, will tell you how I helped them increase their available credit and reduce their interest rate by over 50%!

Over the course of a two year funding commitment by the lender, my client could save as much as $250 thousand in interest expense.

This lower rate wasn't accomplished through a buy one, get one free promotion or a 3 day weekend sale.

It was accomplished by telling the borrower's story correctly to the right lenders and creating an auction environment so the lenders competed aggressively!

If your business needs to borrow up to $2 million and is currently borrowing at rates in excess of 15% (possibly through factoring), you might be able to achieve the same results!

To be eligible for these business loans, your business must be profitable and have a positive net worth. Accounts receivable and inventory will be the primary collateral for repayment of the revolving line of credit.

Need help finding the right lender or telling your story the right way for your business? Read "Matchmaking for Business Loans" and give me a call!

Tags : accounts receivable , factoring , SBA 7a loan , asset based loans , line of credit , working capital

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