My name is Phyllis Manna. I’m from World Business Lenders. WBL is a hybrid between a merchant cash advance and hard money lender. We will lend up to 4x the clients average monthly revenue if the client can afford it and they are willing to use real estate as collateral.
WBL's collateralized loans offer advantages over unsecured loans for certain borrowers, often either providing funding where others cannot or offering much larger funding amounts with longer terms. WBL works with restricted industries, purchasers of businesses, business owners with poor personal credit, businesses with few monthly deposits, and is tolerant of NSFs. WBL also offers the longest terms for 1st, 2nd, and 3rd positions available in the industry.
Our ability to make deals work is unparalleled. Perhaps we can fill some funding gaps for you. We work with all industries and all credit buckets. We fund the impossible. I would to develop collaboration between our companies.
Most of my business comes from other funders/brokers such as yourself, and comes in the form of the following:
WBL'S PRODUCT, IN A NUTSHELL!
"WBL lends up to 3-4x the gross monthly revenue (Deposits) not to exceed Loan To Value (LTV) or Combined Loan To Value (CLTV) in the subject property(s)"
LTV/CLTV Calculation Example (See attached Rate Sheet for LTV/CLTV Guidelines)
Subject Collateral: A $600,000 valued residential property with a 1st mortgage of 225k
At 70% CLTV, this example leaves room for a195k loan with WBL.
How is this calculated? See here: 70% of 600k = 420k. We then subtract the 225k 1st mortgage which leaves 195k in lendable equity! In this example, the business would need to be generating 65k a month in deposits to qualify for the full 195k. That's it! It's that simple!
Documents needed for each submission:
Please call me for more information:
Analyst, Account Representative
World Business Lenders
WBL California, LLC, a Licensed California Finance Lender and Broker
101 Hudson St, 33rd Floor
Jersey City, NJ 07302