Programs

 

Unsecured Business Line of Credit

A loan is given for a fixed amount to be repaid within a specified amount of time using a specific repayment terms. A line of credit provides access to funds as needed. You only pay finance charges on funds used. Requires minimum 660 credit score & 2 years in business.

Construction Loans

A construction loan is a more specific type of loan, designed for construction and containing features such as interest reserves, where repayment ability may be based on something that can only occur when the project is built. Thus, the defining features of these loans are special monitoring and guidelines above normal loan guidelines to ensure that the project is completed so that repayment can begin to take place.

Business Acquisitions

The process of acquiring a company to build on strengths or weaknesses of the acquiring company. The end result is to grow the business in a quicker and more profitable manner than normal organic growth would allow.

Equity Loans

A consumer loan secured by a second mortgage, allowing homeowners to borrow against their equity in the home. The loan is based on the difference between the homeowner’s equity and the home’s current market value. The mortgage also provides collateral for an asset-backed security issued by the lender and sometimes taxes deductible interest payments for the borrower.

Bridge Loans

Bridge loan is a type of short-term loan, typically taken out for a period of 2 weeks to 3 years pending the arrangement of larger or longer-term financing.

Hard Money Loans

Hard money loans are backed by the value of the property, not by the credit worthiness of the borrower. Since the property itself is used as the only protection against default by the borrower, hard money loans have lower loan-to-value (LTV) ratios and higher rates and fees than traditional loans. 6-9 months in length.

Contract Financing

Money given to a contractee from a contractor for the purpose of making payments like advance, interim, performance payments, advancement payments, or/and other similar payments.

Blanket Loans

A mortgage, which covers two or more pieces of real estate. The real estate is held as collateral on the mortgage, but the individual pieces of the real estate may be sold without retiring the entire mortgage.

Asset Based Loans

A business loan secured by collateral (assets). The loan, or line of credit, is secured by inventory, accounts receivable and/or other balance-sheet assets.

Rehab Loans

A mortgage that covers the costs of rehabilitating (repairing or improving) a property.

Equipment Financing

Getting equipment financing can be a short, streamlined way to finance up to 100% of the value of computers, machinery, vehicles or other equipment your business might need.

Merchant Cash Advance

A Cash Advance is not a loan. It is a discounted, prepaid purchase of future credit card receipts. Businesses receive cash today for the sales that they will make tomorrow and pay back a small percentage of their daily credit card receipts over 6 to 10 months until it is fully repaid.

Cash Advances are designed for businesses that do over $5,000 per month in credit card sales, such as restaurants, retailers, hotels, salons and certain service providers. Financing is based on measurable credit card sales and most applicants do not need to provide financial statements. This is also a good alternative for those with challenges to their credit score.

Merchant Cash Advances are available from $50,000 to $1,000,000.

Revenue Based Finance (ACH)

The RBF/ACH Program is designed for businesses that derive little revenue from credit card sales. It is ideal for manufacturers, wholesalers, distributors, contractors and other service providers. This unique program gives these businesses access to working capital based upon their cash flow and not traditional metrics like asset/collateral coverage and the balance sheet.

Like Business Cash Advance, this product is not a loan but the purchase of future receivables. In this case, the future deposits of the business. Financing is based on the amount of cash flow through the businesses operating accounts and repayment is made by automated electronic debits (ACH debit) over 3 to 6 month periods. This product enables businesses to leverage future cash flow to obtain the working capital they need to grow.

RBF/ACH products offer businesses $50,000 to $1,000,000.

Secured Business Loans

MCG offers short-term business loans. These loans are ideal for all types of small to mid-sized businesses including medical, dental and veterinarian practices.

Rates are based on credit, business condition, business type, geography and other risk factors. Payments are fixed and have a specific term. Business loans are ideal for the most credit worthy businesses with stronger financials and balance sheets. Loans are offered from $50,000 to $1,000,000.

Asset Based Lending (ABL) and Factoring

The MCG ABL program is designed for businesses that can leverage their tangible assets and strong balance sheet as a means to accessing working capital. These clients pledge fixed assets such as inventory, machinery and real estate in addition to receivables in return for access to capital.

ABL programs often act as revolving credit facilities and are offered up to $5,000,000. Payments are collected either electronically or through a “lock box” control account on a daily, weekly, or monthly basis as specified in the contract.

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