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