In our past few blog posts (in case you missed them, see them here and here ) we have described the details of our three programs and the types of deals we fund.

  1. “B” (First & Last due upfront)
  2. “C” (First & last due upfront)
  3. “Structured” (30% due upfront)

Our “B” and “C” programs require only First & Last upfront…which is MOST of what we do.

…but what about those customers that don’t qualify for our “B” or “C” programs?

Great news!  We have a program for them also!

Our “Structured” Program is designed to help business owners that don’t qualify for our “B” or “C” credit programs obtain the essential equipment they need!

You know, the borrowers with slightly more (*ah-hem*) challenged credit.

Who qualifies?

This program is designed for businesses/guarantors that have less-than-stellar credit, but have strong cash flow and want to finance hard collateral with a liquid secondary market.

Poor credit score + great cash flow + 2+ years’ TIB + hard collateral = BRBC “Structured” approval!

 

There are 3 (…well 4) main things we are looking at for Structured Transactions:

  1. Equipment – How liquid is the secondary market for the equipment?

 

  1. Equipment (again) – Is this price in line with retail? What is the auction value?

 

  1. Cash Flow – Are they depositing 75% of their request monthly? Do they keep an average of 50% of that same request in average bank balances? (A borrower looking to finance a $20K skid steer would need to be depositing close to $17K each month and keeping about a $10K balance)

 

  1. Credit (kind of) – we don’t even look at the score. BUT we don’t finance equipment for guarantors that have open tax liens, unsatisfied judgments, previous auto charge offs, child support issues in the past or simply a history of allowing all their debt go to collections.  Challenged, not terrible, and we move right on to the other stuff we really care about.

What is the structure for the BRBC “Structured” program?

Simple.

30% due upfront

Approvals up to $50,000 net funding including points

C1-C5 Pricing

Max term 36 months

 

YOU LIKE DOING DEALS.

WE LOVE DOING DEALS.

LET’S DO SOME “B”, “C”, AND “STRUCTURED” DEALS TOGETHER!

 

AS ALWAYS, IF YOU HAVE QUESTIONS OR WANT TO LEARN MORE ABOUT OUR PROGRAMS CONTACT STEPHANIE AT 512-942-7221 OR STEPHANIE@BLACKRIVERBC.COM

 

AND NOW IT’S TIME FOR OUR THURSDAY BLACKRIVER TRIVIA!

*Be sure to post your answers in the comments right here at the bottom of the BlackRiver Blog for your chance to win! You will probably need a copy of your broker guidelines for some help here.

  1. What percentage of the equipment cost is required upfront for “Structured” transactions?
  2. What is the maximum net funding amount for the BRBC “Structured” program?
  3. What amount does BRBC require in monthly bank deposits for “Structured” deals?
  4. What type of equipment will BlackRiver consider financing for “Structured” transactions?
  5. Who should you contact to learn more about our finance programs and fantastic service?
  6. What famous comedian said this “A bank is a place that will lend you money if you can prove that you don’t need it.”?