Small Business and Middle Market Business Loans

When your business needs loan, a prompt response and fast funding can make a world of difference.

It doesn’t matter if you’re an established business or a start-up, a lack of ready cash can make or break your business—even when sales are through the roof.

At these times, business owners want a lender that provides fast decisions, delivers cash in a hurry and takes time to understand their needs.

That’s why so many business owners like you rely on CFIC to craft sensible business  loan programs and funding solutions for the financial and operational enrichment of their company.

When your bank, credit union or other funding sources aren’t providing the cash support you need, that’s where CFIC Funding comes in. Even with less than perfect credit, you can get the financing you need.

Take a few minutes to review our website and you’ll quickly see that you’re in the right place. Or, to save time, just give us a call at 310-370-4871 and let’s get started on getting you the cash you need for your business today.

Accounts Receivable Financing and Factoring Loan-How to Get Fast Cash When You Need It

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Commercial Lines of Credit Loan-Collateral Problem Solved

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Equipment Financing Loan-Plenty of Benefits Other Than Cash

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Project Financing Loan-Lenders Want To Finance Your Business

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Not Sure What Type of Business Loan, But Know How Much You Need?

Sharpen Your Axe to Get Your Loan Funded

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Working Capital Loan – $5k to  $500k

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Business Transportation Loans – Class 8 Truck Loans/Trailer Loans

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Your direct source to the business loan you need to support any type of legitimate business loan or lease.  Call CFIC Funding, Inc., today at 310-370-4871

Competitive rates for virtually any business with A to D credit profiles

Access Small Business financing for transactions from $10,000 and up

Get Project & Middle Market financing with virtually no maximum amount

Oil & Gas Financing: What All The Experts Agree Works Best

One of the toughest categories to get funds for is financing the extraction of in-ground assets. What are in-ground assets? We’re talking about oil & gas. Also mining projects of all types. Whether it’s coal, copper, iron, gypsum or any other mineral that has to be taken out of the ground.

Why is it so hard to get funds for these extraction activities? Because the risk of failure is historically very high. Even so, if you have a plan that makes fiscal sense, when you put the right information in front of the right lender or investor, you can get the cash you need. You can get debt and/or equity financing. You can even get joint venture partners.

The information you need to provide is not so different than what’s required for financing of other types of projects. You’ll need a clear business plan and financial model so the lender or investor can see your vision. Be sure to provide a thorough description of the market, its history and upside potential.

One of the most important documents that will absolutely be necessary is a recent 3rd party reserve report that provides a clearly stated estimate of the recoverable mineral reserves available. Many times we see reserve reports prepared by individuals that are members of the development team. This will NOT work as these reports will certainly be viewed as a conflict of interest. An independent 3rd party that has no other ties to the borrower/developer must be used to develop it.

Provide detailed resumes on the management team that proves you have the experience, background and ability to successfully manage and operate such an endeavor. Prepare a detailed schedule of the permits and licenses required to begin construction and/or operation with realistic timelines needed to obtain any you don not already have.

If you are already operating and generating revenue, be sure to give them copies of your last 5 years of financial statements and balance sheets. If you’re a start-up, it will be more difficult, but still very possible to get funded.

There are far fewer lenders and investors that will fund the extraction of in-ground assets than there are for other types of projects.

If you need help, ask us for it. Visit us tomorrow for another free commercial loan secret and be sure to subscribe to our RSS feed.

You can also contact us to ask questions and voice your concerns. Just pick up the phone and dial, CFIC Funding, Inc. today at 310-421-7370! Ask for David Young or Wayne Clinton. You can also visit http://www.cficfunding.com or mail david@cficfunding.com or wayne@cficfunding.com

How To Leverage Your Relationships Properly And Fund your Project or Business

Recently we’ve seen projects with good potential abandoned primarily because the developer didn’t properly leverage their relationships. In two cases, the developer relied on a 3rd party to get them an audience with a person of influence. After their initial meeting it was decided there was mutual interest to move forward. It later became obvious that the developer didn’t have realistic expectations or fully understand that there was far more required to prepare their projects for financing. Let’s face it… there is only so much that these persons of influence can do to help them.

In one case, it quickly became clear that the developer over-valued the introduction. So much so, that when it came time to finance their project, the offers to fund the project that were obtained left the developer with far less than they had hoped for. Sure the developer had done a decent job at preparing their paperwork, finding appropriate sites, feedstock and off-takers. But their commitment to the introducing party was so excessive, that the project fell apart because none of the parties involved was willing to take a lesser amount than they were led to believe they deserved.

This was a classic case of greed and unrealistic expectations.

In another case, the introduction was made. An appreciable amount of work was done to prepare the business plan and financial model. The developer found a suitable site for the project and got commitments for their feedstock. They even identified a potential lender that was interested.

What did they do wrong? They didn’t take the lenders advice before rushing back in front of the influential party. Sure, they had their meeting, but without having their project properly structured, the outcome from the meeting was, like the other group, far less than what they had hoped for. Like the other group, it was so different from what they had planned for, that the developer had to scrap the project altogether.

Would one consider these signs of inexperience and unrealistic expectations? Not hard to make that case. But, the bottom line is, an introduction is only worth so much. It’s certainly, not worth 10% or more of any project. Also, no matter who introduces you to the influential person, you still need to make a top-flight presentation and demonstrate that by working with you they are not undertaking any greater risk than normal. Preferably, less risk.

Project financing and business funding can involve complex issues and concerns. It is your responsibility as the developer or business owner to prove that you have taken all these issues into account and have taken the necessary steps to fully protect the primary participants.

If you need help, ask us for it. Visit us tomorrow for another free commercial loan secret and be sure to subscribe to our RSS feed.

You can also contact us to ask questions and voice your concerns. Just pick up the phone and dial, CFIC Funding, Inc. today at 310-421-7370! Ask for David Young or Wayne Clinton. You can also visit http://www.cficfunding.com or mail david@cficfunding.com or wayne@cficfunding.com

A Little Mistake That Could Cost You a Fortune

One of the biggest mistakes developers make is trying to do too much too soon. We regularly talk with developers that have good ideas but never get past 1st base in the financing arena. Why? Because rather than focusing on completing one project, they commit too much of their limited resources trying to move 2, 3, 4 or more projects forward simultaneously.

Don’t kid yourself into thinking you’re Warren Buffet or Bill Gates. Plan your projects and move them forward to completion one at a time. Be prepared to get bad news from your local banks. If this happens, don’t give up.

There are non-traditional financing alternatives available that can fund most of your planned energy, clean energy, manufacturing and infrastructure projects when qualified.

When you properly plan and structure your project, you can access these performance-capable, lenders that offer a financing model that provides 100% financing for qualifying projects.

These lenders can provide very attractive terms for construction, mergers and acquisitions, recapitalizations and more.

You of all people know that in today’s financial market, business owners and project developers like you need creative finance models matched with performance capable capital sources with a voracious appetite for growth opportunities in your industry and class of business.

Many projects already have the qualifying components to obtain this financing. When properly structured, projects are almost guaranteed to receive 100% financing. Funds are usually available within 90 days or less of completing the required documentation.

The lender has been virtually unaffected by the recent economic downturn and is actively seeking renewable energy, manufacturing and infrastructure projects of all types to fund.

You can get assistance in properly structuring your project and/or loan request to qualify for these alternative funding sources. With stakes this high, you shouldn’t think twice about asking for help.

Ask for help if you need assistance you’re your paperwork and/or finding the best lenders for your situation. Visit us tomorrow for another free commercial loan secret and be sure to subscribe to our RSS feed.

You can also contact us to ask questions and voice your concerns. Just pick up the phone and dial, CFIC Funding, Inc. today at 310-370-4871! Ask for David Young or Wayne Clinton. You can also visit http://www.cficfunding.com or mail david@cficfunding.com or wayne@cficfunding.com

Your Best Chance To Impress

Just last week, we had 2 different loan requests delayed even though the lenders liked them at first glance.  Why were they delayed?  Because the borrowers didn’t provide enough detail in their financial models or proforma’s. All too many times we get loan requests that are rejected primarily because their financial models didn’t demonstrate that the borrower really knew what their regular expenses would be and/or properly illustrate how they were going to generate revenue to service the debt and remain solvent.

Understand that lenders and their underwriters rely on the financial models or proforma’s to provide a clear picture of the firm’s ability to generate revenue and meet their obligations.

Financial models and proforma’s need to be very detailed if you want your loan request funded. Some underwriters and lenders will review the proforma before any other document you give them. Here’s why; because the financial model or proforma will tell them if you have a good handle on the day-to-day requirements to be successful with your business or project.

Want a few tips in preparing your financial model or proforma? Provide the information in an Excel spreadsheet format as it makes it much easier to follow specific line items over the months and years. Always provide projections for, at least, the same period of time that you want to repay the loan or investment. Add line items for each and every source of revenue so there’s no mystery about your ability to repay the loan or investment. Again, be very detailed about your monthly and annual expenses.

Be sure to include repayment of your loan at the same interest rate being offered. If you’re not sure what that interest rate will be, go with a higher rate. If your project or business can cash flow positively at the higher rate, then the lender will take note and will be more likely to embrace your request.

Your CPA or accountant should be able to help you. But, if you’re not sure that your financial model or proforma is up to the task, ask us and we’ll be glad to give it a FREE review for you.

If you need help, ask us for it. Visit us tomorrow for another free commercial loan secret and be sure to subscribe to our RSS feed.

You can also contact us to ask questions and voice your concerns. Just pick up the phone and dial, CFIC Funding, Inc. today at 310-421-7370! Ask for David Young or Wayne Clinton. You can also visit http://www.cficfunding.com or mail david@cficfunding.com or wayne@cficfunding.com

Sharpen Your Axe to Get Your Commercial Loan Funded

Often the secret for success in any funding effort comes by asking for the right type of loan. If you’ve had problems getting a loan it’s time to sharpen your axe by taking a new approach. As an example, we had a client a few years ago that called us because his local banks were not willing to give him the loan he was after. He needed to get more equipment and hire some additional staff. He had an excellent opportunity to lock down some long-term commitments from a couple of his regular customers. He was just about at his wits end and didn’t know what to do. He decided to call us.

He explained that he had gone to a couple of private lenders he was referred to and still couldn’t get to 1st base. Talking to him we discovered that he had some credit problems revolving around his divorce a few years earlier. His ex knew his social security number and decided to get some new credit cards then ran up the bills and never told him about it. Even though he had paid everything back, it still looked bad on his credit report.

However, he did have some used equipment in good condition that was free and clear. He also had regular income from several creditworthy customers. His problem was that these customers didn’t always pay him on time. This added to his problem, as this would cause him to be a little late making some of his payments.

It immediately became clear to us that he was not asking for the right type of loans to accomplish his goals. We restructured his loan request and freed up some immediate cash for him with his used equipment. At the same time, we got him several hundred thousand dollars for new equipment. Then we took his slow paying customers and got him a commercial line of credit for $300,000 using receivables as security for financing.

He was soon in a position to lock down the long-term contracts and hire the additional staff he needed to grow. This was all done without one penny coming from a bank.

Sadly, this is not uncommon. Many times a good, honest business owner can really struggle to grow their business because they just don’t realize that there are other lenders that will work with them if they provide the right information. Often, it’s just because they can’t find the right lenders that are comfortable with their industry and credit history.

They are out there. Plus, they’re looking for more business people to fund.

If you need help, ask for it. Visit us tomorrow for another free commercial loan secret and be sure to subscribe to our RSS feed.

You can also contact us to ask questions and voice your concerns. Just pick up the phone and dial, CFIC Funding, Inc. today at 310-421-7370! Ask for David Young or Wayne Clinton. You can also visit http://www.cficfunding.com or mail david@cficfunding.com or wayne@cficfunding.com

To Get Funded… Be Prepared

By now, you should have a sound understanding of the importance of providing your lender or investor with good documentation to support your request for funding. This really is one of the secrets to getting a commercial loan. But, do you actually know what documentation you should share with your lender or investor?

Below is a comprehensive list of the standard documents required to close and fund the loan for your business. Some of the documents listed may not be required depending upon the amount and type of financing you apply for. As many of the documents listed are things you merely need to copy or get from your bookkeeper or accountant, the list should not be something to make you apprehensive.

Be prepared to provide the following to your lender or investor and you can expedite the funding process:

1. Business Plan and/or Executive Summary
2. Resume on each principal & key personnel
3. Financial Projections – Profit & Loss, Bal Sheets (Excel Spreadsheet)
4. Financial Projections – Proj Income 10 years’ minimum (Excel Spreadsheet)
5. Cash Flow Statements -Proj cash flow 10 years minimum (Excel Spreadsheet)
6. Business Operating Cost Breakdown & Analysis
7. Copy of all Intake and Off-Take Agreements
8. Architectural Drawings / Engineering Plans
9. MAI Appraisals of properties
10. Photos (inside-outside) or photographs of land
11. Maps of Project Area – Vicinity Map
12. All Permits and Zoning Documents, Approvals
13. Market Analysis Overview or Demographics
14. Corporate Financials on Business, audited, 3 yrs (if available)
15. Use of Proceeds (in detail) for first-tier loan
16. Use of Proceeds (in detail) for second-tier loan
17. Construction Budget-Business Expansion Budget
18. Corporate Documents – Articles of Incorporation (if applicable)
19. Corporate Documents – Bylaws or Minutes (if applicable)
20. Corporate Doc –Resolution-Authority to Borrow
21. Builder’s Statement, Ins., Licenses, Credentials
22. Warranty Deed (certified copy) proof of ownership
23. Personal Financials – each principal – 20%owner
24. Corporate – Business Tax Returns (3 years)
25. Personal Tax Returns (3 years)
26. Environmental Reports – Phase 1&2
27. Formal Request for Loan/Investment – Business Letterhead
28. Good Standing Certificate
29. EIN Letter
30. Company’s Bank Reference Letter and Bank Statement (for your existing account)
31. Color Copies of Passport and/or Drivers License for Main Signatory and/or Principal

Again, not all of the documents will be required to complete the financing you want. But, regardless to the type of loan you want, you will need to provide several of the items listed.

If you need help, ask us for it. Visit us tomorrow for another free commercial loan secret and be sure to subscribe to our RSS feed.

You can also contact us to ask questions and voice your concerns. Just pick up the phone and dial, CFIC Funding, Inc. today at 310-421-7370! Ask for David Young or Wayne Clinton. You can also visit http://www.cficfunding.com or mail david@cficfunding.com or wayne@cficfunding.com

Discover the Keys to Unlocking Your Lender’s Cash Vault

You want financing to increase your revenue and profitability, but do you really know what a lender or investor is looking for? Well pay close attention because, regardless of whether you want $5,000 or $500 million dollars, lenders and investors want pretty much the same thing. They want a transaction with minimal or no risk.

No surprise there, huh? Well how do they determine the level of risk associated with a transaction? There is no short answer to that question, but we can start with a responsible, experienced and innovative management team. They look for management teams that:

• Are interested in building a sustainable and profitable business model
• Has industry experience in developing a successful business
• Works well together, complementing each other’s collaborative style
• Has skin in the game from investing their own funds in the business
• Has a management integrity that incorporates respect for their employees

Strong management teams are far more likely to establish the day-to-day operational procedures that lead to success. They have that rare perspective gained by experience to identify changing market trends and know what to do to address them and still gain market share. With a strong management team, even prior credit issues are less of an issue during the funding process.

If you have a well-planned project, credit worthy customers, sensible contracts and a willingness to cooperate, then you can find a lender or investor that will be privileged to help and finance you in growing your business. If one lender or investor won’t do it, another one will. You just have to provide them with a well conceived, compelling proposition

What we’re talking about here goes right back to good, comprehensive documentation. If you’re not sure what that documentation should be or how to say it, feel free to ask for help. Remember, the only bad question is the question never asked.

Visit us tomorrow for another free commercial loan secret and be sure to subscribe to our RSS feed.

You can also contact us to ask questions and voice your concerns. Just pick up the phone and dial, CFIC Funding, Inc. today at 310-370-4871! Ask for David Young or Wayne Clinton. You can also visit http://www.cficfunding.com or mail david@cficfunding.com or wayne@cficfunding.com

Peeling Back the Curtain of a Typical Funding Process

Want to know what happens when you your loan application or request is received? In most cases, it will go something like this…..

The first look

In most cases, your lender wants to make an initial determination of interest and fit in a matter of a few minutes after receiving a business plan or formal request for investment. So, be sure to provide a compelling description of how your plans for the loan or investment proceeds are safe and profitable.

If they do decide to move forward, the review process moves at a deliberate pace from there. But if your company is too early stage or your opportunity doesn’t quite suit them today for other reasons, don’t stop here. I assure you, there are other lenders that may be a better match for your individual situation.

A longer conversation

Those companies that do meet with the lenders financing or investment criteria move on to the next step in the process. Often that’s a meeting or conversation with the management team. The lender’s goal in this meeting is to learn more and evaluate the company’s management team, business model and market prospects. They will want to see if there is a good overall fit between their operating philosophy and yours. If there is a mutual interest in proceeding further, additional conversations or meetings will typically follow.

The conversations and meeting will include additional research and analysis of the business with the goal of better understanding the company’s long-term potential for success and how they might contribute to that success. You should be prepared to discuss your products and services, your market’s dynamics and competition as well as your market positioning and what individual attributes will spell success for you. You should have already developed and shared some comprehensive financial models to help bring the range of your upside potential into sharper focus.

Virtually all of our applicants and development partners find every lender’s due diligence process to be overly thorough and too time-consuming. In a typical scenario, the entire financing process from first meeting to funding can range anywhere from 45 days to several months, depending in part on how long it takes to negotiate a term sheet and provide any additional documentation required. The time from signing a term sheet to closing an investment typically ranges from 45 to 90 days, depending in part on how well the lender or investor knows the business and borrower at the start of due diligence but also how quickly you can facilitate their due diligence process.

You probably won’t like it, but the truth of the matter is, lenders and investors rarely communicate actively and openly through the entire investment process. Many find that this approach facilitates a natural timing to a successful close that fits the particulars of the investment. So, don’t hesitate to call them every couple of weeks if you haven’t heard from them or made other arrangements.

If you need help, ask for it. Visit us tomorrow for another free commercial loan secret and be sure to subscribe to our RSS feed.

You can also contact us to ask questions and voice your concerns. Just pick up the phone and dial, CFIC Funding, Inc. today at 310-421-7370! Ask for David Young or Wayne Clinton. You can also visit http://www.cficfunding.com or mail david@cficfunding.com or wayne@cficfunding.com

Project Financing–Lenders Want to Finance Your Business

Did you know that there are lenders even in today’s market who are not only looking for businesses and projects to finance… they are actually eager to do so? So how do you position your company to be one of them? Keep reading.

Pull up a front row seat and listen in. Today we were talking with the Managing Director of the Private Equity Group we work with. He made the comment: “It’s very difficult to find developers that can do what they claim they can.” It was very similar to what the president of an Equipment Leasing firm said recently.

Think about that for a moment.

These legitimate and capable lenders are actively looking for more businesses and projects to finance. These are sources of capital that get loan and funding requests daily. Many are from sound business concerns with good ideas. But they’re not getting the necessary documentation to support the loan requests they receive. Consequently, they can’t fund as much business as they’d like.

What are they not getting that prevents them from funding the loan? It can be many things. It can be unsigned equipment orders, not getting the right permits and/or licenses, not providing signed purchase contracts or orders from your customers. Many times it comes down to not providing something as simple as a tax return. Often it’s not being clear with how you plan to use the loan proceeds.

If you want money to grow and develop your business, whether it’s $50,000 or $500 million, you have to forecast and plan each step of the way to make sure you have covered all eventualities. Make sure all your orders, contracts, quotes, permits and licenses are fully dated and signed before you send them to your lender or investor.

Be sure to provide a clear step-by-step description of how you see the transaction taking place. If your lender has already stated how it should go, say it again so the lender knows you understand. This is very important, as the lender will be more comfortable in working with a borrower that qualifies and understands his process and procedures.

Let there be no doubt, all lenders would love for the deal to come together and fund smoothly. Just like you. So, be thorough and make sure you give them what they need the first time.

If you need help, ask us for it. Visit us tomorrow for another free commercial loan secret and be sure to subscribe to our RSS feed.

You can also contact us to ask questions and voice your concerns. Just pick up the phone and dial, CFIC Funding, Inc. today at 310-421-7370! Ask for David Young or Wayne Clinton. You can also visit http://www.cficfunding.com or mail david@cficfunding.com or wayne@cficfunding.com

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