There is a common saying in the deal-making world of finance – “it’s got some hair on it”. Even if you’re not familiar with the saying, the implied meaning is obvious – it’s not good.
But it’s also not all bad. What’s missing in our phrase is the typical preceding note of, “it’s a pretty good deal but…”
The referral is saying that the company has some history and a viable product but are missing key fundamentals to make them appropriate for a bank lending relationship (i.e., there’s too much debt, a few years of losses, etc.). Basically, while there is plenty of meat on the peach, the outside is a little hairy.
Banks are highly regulated on the loans they produce, and as such, the cost of capital is very affordable when compared to investor or alternative financing. However, to obtain such a low interest rate, your company must pass several assessments of performance to be eligible. If a company has had a couple of bumpy roads in its recent past, the proverbial hair begins to grow.
Camel Financial is a premiere alternative lender that can work with a company to overcome some of the shortfalls in a pre-bank situation. We specialize in helping and financing peaches. Sure – there’s some fuzz all around the edges, but the flesh underneath is healthy and delicious. It takes a little work but the payoff for both the borrower and the lender are well worth the time.
If you’re a banker or broker and you know your client is getting a little fuzzy, send them over to Camel Financial. We have the tools available to peel off the skin and make it fruit everyone wants with their desert!
Italian Peach Crumb Cake
1 1/2 cups All Purpose Flour
1/2 cup Sugar
2 tsp Baking Powder
¼ tsp Salt
1 stick of Butter (preferably salted)
2 cups Sliced or diced Peaches (Depending on what you decide to cook it in.
2 T Sugar
Pre-heat oven to 350°. Grease and flour an 8″ cake pan or I prefer individual mini cocotte dishes.
In a medium bowl mix together sliced or diced peaches and sugar, set aside.
In a large bowl whisk together flour, sugar, baking powder and salt, add butter using a pastry blender, or fork combine to form a crumbly mixture, add the egg and continue to mix only until still crumbly. An easy way to fold butter in is by grating a very cold stick of butter and folding it in.
Add approximately 2/3 of the crumbly mixture to the cake pan, gently press down lightly, spoon peach mixture on top and sprinkle with remaining crumb mixture.
Bake for approximately 30 minutes or until lightly golden on top. If cooking in individual cocotte dishes keep an eye on it. Let cool. Serve with vanilla ice cream if desired. Enjoy!