Home: Message List - Can a growing profitable biz get a bank loan right now?

Re: Can a growing profitable biz get a bank loan right now?

bmt2008 — Thu, 05 Mar 2009 11:54:20 GMT

What is your current lending/bank telling you? They should be willing to help you expand. Have you tried non-traditional options like Business Cash Advances? Or, given the environment, have you tried leasing these spaces for a percentage of your profits? Never know what a leasor will take if their property has been sitting for a long time.

Just soem thoughts

Re: Can a growing profitable biz get a bank loan right now?

NoBullFunding — Thu, 05 Mar 2009 00:18:43 GMT

If your business is strong, someone will lend to you, especially having an established record of growth and strong cash flow.

Re: Can a growing profitable biz get a bank loan right now?

mlebovits — Wed, 04 Mar 2009 20:42:00 GMT

Yes, they can if the borrower approaches the right bank with a story which demonstrates their ability to service the debt. Both the borrower's historical track record of generating cash flow and projections will be critical.

I spoke with one Los Angeles bank today that is looking to make loans up to $2.5 million to creditworthy businesses. It's a relatively new bank that has lots of deposits it needs to put to work.

Marshall Lebovits

Re: Can a growing profitable biz get a bank loan right now?

token88 — Wed, 04 Mar 2009 15:11:32 GMT

How much are you looking for?

alexmartinez.1@hotmail.com

Can a growing profitable biz get a bank loan right now?

fashionman — Wed, 04 Mar 2009 02:07:53 GMT

I have a hugely successful chain of retail stores in California. Our numbers are profitable and growing every year since we started. Even in this awful retail environment, we are growing over last year. We are trying to expand to take advantages of great spaces available for lease. We need capital to build out the store. We are wondering if we should wait until this bank mess gets better. It looks like the banks need money more than I do. Or are they kind of forced to lend to a good performaing companies? Should I go to the bank now or later?