A Coastal Customer
• is 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.
Just a few of our clients:
Plastic Manufacture – Long Island NY
Wine Distributor – San Carlos CA
Staffing and Employment Agency – Manhattan NY
Nation Wide Flooring and Tile – East Windsor NJ
Freight and Trucking – Jersey City NJ
