A World of Options
Offers
A World of Opportunity
We are straight shooters. We do not promise you anything that we can't deliver. If you are not ready for a specific financial instrument, we tell you upfront. Time is money for you, me, and your company.
Hard work includes research and learning about your business, industry, and financial instruments that will help you sustain and grow your business.
We are passionate about Small and Medium Businesses' success! Really; it is that simple. In fact, we are an SMB.
Our financing partners share the same committment to SMBs. They understand the unique needs of small businesses and don't mind looking at sausage making. Everyone likes the finished product; however, few are there when you are in the trenches, early. We are there from production, through morning breakfast, and beyond.
Express , 7a, & 504 SBA Loans, Bank and Nonbank lenders. Click here (right click for new tab or window) for Quicker SBA loans.
Available in selected states. True loan, Min. 600 FICO and 3 months in business. Here (right click for new tab or window) are a few questions answered about Term Loans.
Loans based upon a businesses assets including accounts receivables and equipment.
Loans against a medical organization's accounts receivables, private insurance, & government insurance, etc.
Other assets are considered including real estate, personal insurance, insurance, stocks, vehicles, etc.
Loans based on real estate for working capital, renovation of property etc.
Sign Manufacturing Franchise Receives $235,000 In SBA 7(a) Financing
SITUATION:
A couple wanted to start a sign manufacturing business, choosing to become part of a growing national franchise. They struggled to find traditional financing because the business was a start-up.
SOLUTION:
The sign manufacturing franchise was referred to our favored partner, knowing that they are willing to look at the story behind the numbers. After careful analysis revealed an experienced borrower and a strong franchise concept, they were able to provide a $235,000 SBA 7(a) loan for leasehold improvements, working capital, and inventory.
IMPACT:
The business is woman and immigrant-owned. The financing created three new jobs.
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Consulting Company Receives $185,000 in SBA 7(a) Financing
SITUATION:
A successful African-American entrepreneur who started a management consulting firm within the manufacturing/energy industry couldn’t find a lender willing to fund the growth and diversification of his business. Traditional financing was hard to find due to a collateral gap and lenders evaluating the business as a start-up.
SOLUTION:
Our favored partner looked beyond the collateral shortfall and found an experienced owner who had overcome adversity, was successful, and had a passion for making a difference in the world. They were able to provide a $185,000 SBA 7(a) loan for a new business line and working capital.
IMPACT:
The business has created four living wage jobs.
The business is minority and veteran owned.
The business is located in a low-income community.
Industry: Wine brokerage
Amount: $150,000
Details: Funds were used for marketing, payroll, expansion and general operating expenses.
Industry: Smoothie Franchise
Amount: $125,000
Details: Funds were used for equipment, franchise fees and general opening expenses.
Industry: C-Store
Amount: $75,000
Details: Funds were used for debt refinance and general operating expenses .
Industry: Assisted Living
Amount: $150,000
Details: Funds were used for equipment, marketing and general opening expenses.
Industry: Child Care
Amount: $150,000
Details: Funds were used for marketing and general operating expenses.
Industry: Manufacturing
Amount: $100,000
Details: Funds were used for equipment, payroll, marketing and general operating expenses.
Bakery
Average deposits: $194K
Loaned Amount: $250K
Long Haul Trucking
Average deposits: $10K;
Loaned Amount: $100K
Beauty Salon
Average deposits: $15K
Loaned Amount: $23K
An Indiana-based steel fabrication and installation business was being acquired by a small public company that had previously borrowed with our partner. Management came to our partner for a $400K equipment Loan to help with post-closing liquidity needs. Having worked together before, the process was quick and easy.
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A Washington-based manufacturer of roof and floor trusses, pre-cut lumber framing packages, and door and millwork packages--originally referred to our partner in 2018--wanted an equipment loan of $1.157MM to aid the company in paying off its existing bank. When originally referred, the company didn’t have sufficient availability to pay off the bank, but working through the issues alongside the other asset-based lender--that was financing the accounts receivable and inventory--they were able to see this deal through to completion.
A skilled nursing facilities operator in Texas that focuses on individuals who need healthcare services after his/her hospital stay received a $5MM line of credit from our partner. Some of the services offered help individuals return home to the community, while others assist those who require care for an extended time.
The $5MM line of credit was necessary to help the client emerge out of bankruptcy and will help with working capital needs. The line uses medical accounts receivable from third party insurance carriers as collateral with an advance rate of 85%.
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A specialty pharmacy received a $7,500,000 Medical Receivables Financing Facility from our partner. The client is located in Pennsylvania and is a Specialty Pharmacy. The revolving line of credit facility is based off the client's medical accounts receivable. The client is using the proceeds of the loan to support its expansion plans and purchase a competitor's pharmacy.
Start up Financing for a Beauty Care Store in New York
Challenge: An experienced entrepreneur in the beauty care industry needed capital to open a retail store in New York.
Solution: Our partner provided the necessary capital by securing a term loan with a rental property in Georgia owned by the entrepreneur.
3rd Renewal on $2.4MM 2nd Lien Loan
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Challenge: A entrepreneur/investor wanted a 6-month bridge loan to refinance more expensive debt.
Solution: Our partner structured a $2,350,000 2nd lien, 6-month bridge loan behind a $3,900,000 1st lien on the borrower's $12,000,000 home in the Hollywood Hills, CA. Their borrower has requested 6-month renewals for over 2 years as he likes the flexibility it provides to pursue opportunities.
You sell your accounts receivables, receive cash, go on to your next job. That simple. We also work with contractors which few factors do.
You have a viable purchase order, receive cash for it, go to your next job. Production finance considered as well. It is like having a VC WITHOUT selling equity.
Truck leasing and purchasing pretty much all credits considered. We also have leasing partners for equipment as well. Micro leasing is available for retailers and restaurants and others as well.
Merchants in need of capital. The funder purchases a future amount of the your credit card receipts and funds the merchant. You pay daily or weekly payments depending upon the instrument.
Online and/or offline business wants to offer their customers a way to pay for an extended period. We offer that service through our partners.
Acceptance of credit card payments is a form of factoring. Merchant receives payment at discount in one to three days.
Government Contractors Financing: IT Staffing Company
Challenge: An IT staffing company was having difficulty meeting its working capital demands. The company had traditional bank financing in place but they were constantly bumping up against the credit line maximum imposed by the bank. At the same time, the bank continued to impose stricter loan covenants. The bank’s strategy made it nearly impossible for the entity to expand. The company was doing business with various government agencies including HUD, U.S.P.S. and GSA.
Solution: The company evaluated a factoring strategy to replace the traditional financing. In five days our partner paid off the bank and freed up more than $500,000 for the company. This approach provided the company with the ability to procure new government contracts without having to be concerned that they may not have enough capital to meet the payroll requirements.
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Invoice Factoring of Government Contracts: Public Relations Company serving various government agencies
Challenge: The upfront demands for working capital in the marketing/PR space require businesses in that arena to have a very large amount of working capital. Various media outlets require payment up front for advertising. In many cases, the businesses have minimal fixed assets and have difficulty procuring credit.
Solutions: Our partner was able to leverage amounts due from various government agencies including the Center of Disease Control and Prevention and the Centers for Medicare and Medicaid Services to provide the company with the working capital it needed to meet the demands of the media outlets.
Companies that benefit from factoring of government receivables may be contractors for federal, state or county contracts. In many cases, MWOB (Minority and Women Owned Businesses) and SBA 8(a) organizations are eligible to factor government receivables.
When working with the Federal Government, any receivables funding must follow the guidelines set forth in the Assignment of Claims Act and the processes set forth in the Federal Acquisition Regulations. Our partner is an expert in these processes.
Excavating Contractor
Colorado
$50,000 Factoring Facility
Mining Excavation Contractor
Arizona
$529,000 Factoring Line
Framing Contractor
Nevada
$192,000 Accounts Receivable Financing
Import Solution:
Challenge: Importer of Housewares,startup in business for less than 1yr and $300k in sales. Small $50k line of credit with a bank. Secured a $4.2mm order from Wal-Mart. Needed $2.9mm to purchase goods from overseas suppliers and pay for logistics and third-party warehouse storage costs
Solution: Our partner structured a letter of credit to the overseas supplier to secure the inventory to fulfill the order and paid freight and storage costs prior to shipment to Wal-Mart. They closed the facility in less than a week. Client fulfilled the order and received a follow-up $8MM order which our partner funded
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Export Solution:
Challenge: Specialized Equipment Manufacturer/Exporter. Cash constrained due to investment in facility upgrade and expansion. In preliminary discussions with bank to secure financing received a $3.5mm order for equipment from Samsung . Needed $1.5mm to purchase materials and components to manufacture the equipment
Solution: Bank introduced our partner to provide a bridge purchase order finance solution while they completed their underwriting of a larger permanent credit facility
• Our partner expedited closing and funding within 10-days
• Client fulfilled the order vs. forgoing the sale and shortly thereafter
transitioned from our partner to a bank.
Challenge: A truck driver with several prior loan delinquencies and a low credit score (< 550) couldn't get truck purchase financing from the dealer's captive finance company. His company has a contract to deliver to a top national supermarket and had the cash for a high down payment on a used truck.
Solution: Our partner provided $22,500, 71.43% of the purchase price of a 2012 Freightliner Cascadia for 24 months, fully-amortizing.
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Challenge: A member of a family-owned construction business with a Department of Transportation contract in North Carolina to haul rock, sand and gravel wanted to buy an additional dump truck to expand its business. The borrower’s previous late auto loan and mortgage payments made it difficult for him to finance the purchase with bank debt.
Solution: Our partner funded $55,000 (56% LTV) with a 42 month term for the purchase of a 2009 MACK GU713 Quad-Axle Dump Truck.
Contractors may use their equipment, real estate they may own, & other assets to receive short-term bridge type funding. We also offer construction factoring that helps with cash flow for any business use. SBA loans are available. Consumer financing for businesses that work with residential clients. Heavy equipment leasing. Term loans are available depending upon the state your business is located.
Owner-operators may utilize our partners for purchase financing of trucks and trailers. Up to 75% of cost is available and need ranges from $5K-$55K. All credits are considered. Must be out of bankruptcy.
Wholesale and Retail entities have access to every financial instrument we offer. A popular tool is factoring. In factoring, account receivables are purchased at discount and you receive an advanced amount upfront.
According to The World Bank, factoring is a trillion dollar business worldwide. We also have a form of factoring for the retail community: Receivable Purchasing. A future amount of your receivables are purchased based on past sales history. Asset Based Lending is also used in this vertical.
We work with a bank that specializes in loans to the medical community. They offer SBA loans as well as their own conventional loans. Basically that means they are able to lend when others say no.
Term loans may be one of the best offers we have for this vertical. They are less expensive than MCAs while are as quick for capital distribution.
The Receivable Purchase industry was originally created for restaurants and has been successful for helping those businesses for close to twenty years. Now, some of the most famous online brands are using these financial instruments for their own customer's needs. Online based companies have their own version of this powerful instrument for their customers.
They are great for Receivable Purchasing, Term Loans, and SBAs. The SBA's "Express Loan" program is not utilized enough for these businesses. Often times salon owners are not aware that such an opportunity exist.
Whether you are "fixing and flipping," wanting to purchase commercial property, construction from the ground up, there is "soft" and "hard" money available for use. Or maybe you would like cash out on a commercial property you own for working capital or to purchase another property.
We first will need a FinInForm filled out completely to start the ball rolling. You can receive the form via email or can click here (right click for new tab or window). It is an important step to get to know whether we are a good fit for each other. We will not be pulling credit at this point.
We will review the FinIn Form via a phone consultation to make sure that we have everything we need and to answer any questions you may have. We also will be clear about which financial instrument we think will work best for your business. This, of course, depends on your credit and time restraints as a loan or funding can take anywhere from 24-48 hours to three months depending upon your decision.
If we think that you will qualify for a loan or funding, we send you the necessary documentation for you to apply or make the introduction after the lender/funder has received the FinIn Form. Some lenders would rather that RCMS collect necessary documents, others prefer to do it themselves. Consequently, we may make an introduction and they take you through the process of receiving a loan or funding.
None, ever, from RCMS, however depending upon the financial instrument there may be due diligence costs especially when real property is involved. We will disclose such costs immediately before moving forward. In fact, we are compensated solely from our financial partners. There is never a charge to your business from RCMS.
In the past, we were called a broker, similiar to a a independent insurance agent, we work with the best solution for your situation NOT the best commission for us. For example, we have bank level partners that may give you rates as good as banks. However, sometimes, it may take two to three months for funding. What happens if you needed the funding or financing yesterday? We can offer a bridge loan while you wait for your SBA loan. I couldn't help you if I only represented one financial instrument.
The advantage of utilizing a financial intermediary is that we are pro entrepreneur (Main Street) and are looking for ways to say yes instead of just saying "sorry" and sending you away. We take a Swiss Army Knife approach to SMB financing. We are on your side in war. We understand what it is like to try and meet payroll with an empty bank account...and alone.
It depends on the financial instrument. Our SBA lenders lend in all 50 states. However some of our other "optional capital" lenders and funders do not. We find out during the "steps," what your next step will be.
Our partners lend anywhere from $3,500 up to $5MM depending upon your state and financial instrument.
Depending upon the financial instrument and other requirements, we work with very challenged credit up to excellent credit. Their range for the most part is a 500 FICO and above. Yes, your personal credit score is important as even our higher cost of capital, optional captal funders/lenders, look at credit scores.
Usually anything under the term "funding" takes days or a weeks whereas commonly SBA loans take a month to 3 months depending upon the type of SBA loans. Term loans, take about 24-48 hours. Asset Based Lending varies depending upon the complexity of the deal but 4-5 wks should be tops. Of course, we are including how quickly we receive necessary documents from your company which may add to the timespan.
Yes, we offer referral fees based upon how involved you would like to be in the process. We have a flat or percentage share as long as we are meeting IRS guidelines. A percentage share requires a W-9 and a signed agreement. If you prefer, we will right a check to the nonprofit of your choice.
Sometimes we are still able to help. We receive some referrals from banks at times when they are unable to help their customers. Since we are not interested in the depository aspect or moving them to one of our banks, we are welcomed as a partner. Our partner banks are not interested in taking over the referral banks' core business.
Some of our lenders/funders perform a "soft pull" during the process that will not impact your credit negatively while others will perform a "hard pull" early. Consequently, it depends on the instrument and lender/funder you are being placed with. If it is an issue for you, let us know early in the process.
Most lenders that we represent will require a PG and report to credit bureaus while most funders may or may not require a PG or report to those bureaus. If either is a concern, it is a good idea to ask after we present to you your best option for optional capital.
Yes, we offer Rollover for Business Startups (ROBS). You may use your retirement fund to start your business: 401 (k), 403(b), IRA, TST, SEP, or Keogh Accounts. Must have a mininum funding need of $50K and owner must be an employee of the business.
No, at this time we only offer lending and funding. However, in the future we are hoping to build a network of professionals to refer our clients to. Professionals for example like entrepreneurial friendly accountants and lawyers that understand the unique needs of growing SMBs.
1519 Union Ave.,
Memphis, TN 38104