Do you think the first amount offered is the last word? For one dentist, it was half of the project.
A good file, difficult equipment
The bank was offering $150,000 for a $300,000 project. The client had a solid file. The problem was the equipment: custom-made furniture is hard to resell, so it is hard to take as collateral.
Changing lenders, not the project
I presented the file to lenders who look first at the business's ability to repay. The project was financed in full.
What to take from this
Not all lenders look at the same thing. One stops at the resale value of the asset, another at the business's ability to repay. When an offer does not cover your project, the question to ask is: why?
The client is not named. Every file is different and no result is guaranteed in advance.
Do you have an offer that does not cover your project? See the Equipment page.