CFG will take a Junior Position to your bank. If your bank has a blanket UCC in place, CFG will look for other sources of collateral.
After all documents needed have been received from your company, the typical time range is 15-30 days.
Requirements are circumstantial. Once we review your company information, we can establish reasonable requirements that your company can meet.
A CFG loan may or may not appear on your balance sheet. If we loan directly to the Company, then the loan will appear as debt. However, if we loan to an owner of the Company, the loan will not be required to appear on the balance sheet.
While we do require a certain amount of collateral for all loans, collateral can be taken in many forms. Examples of common collateral taken are company assets or personal real estate.
A variety of things can affect the cost of a CFG loan. Some examples include the strength of company cash flow, company profitability, an owner’s personal guarantee, company reputation.