Who Is A Coastal Commercial Client?

  • a wholesale distributor, manufacturer or service provider.
  • is anywhere in the USA.
  • needs an asset based loan from $100 thousand to $25 million.
  • always has commercial accounts receivable.
  • often has inventory and machinery & equipment.
  • is often thinly profitable or losing money.
  • may have a weak balance sheet and might reflect a deficit tangible net worth.
  • could be in, or emerging from, bankruptcy.
  • might be in an asset recovery department of a bank or an “exit” strategy.
  • has the ability to report collateral to us on a daily, weekly and monthly basis.
  • can explain their turnaround plan.
  • requires advance rates of: 80% to 85% on accounts receivable; 20% to 50% on inventory; 80% to 85% on liquidation value of M&E
  • typically (but not always) has the support of a personal guarantor.
  • has no financial covenants in its loan agreement.
  • preferably needs to refinance quickly.
  • wants to do business with friendly and knowledge people.
  • may be stronger credit, which qualifies for asset based or commercial lending.

Some Recent Clients:

Plastics Manufacturer – Long Island NY

Wine Distributor – San Carlos CA

Staffing and Employment Agency – Manhattan NY

Nationwide Flooring and Tile – East Windsor NJ

Freight and Trucking – Jersey City NJ

Wellness Center, Jamesburg, NJ

Bar & Restaurant, Barnegar Light, NJ

Scrap Metal Yard, Morganville, NJ

Italian Ice, Long Beach Island, NJ

Funeral Home, Newark, NJ

45 Acre Horse Farm, Somerset, NJ