25 year old trucking company needs consolidation offer
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  1. #1
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    25 year old trucking company needs consolidation offer

    My merchant currently has 3 advances, 220K with Knight in a first, about 20k with another and another 110k in a third. He is in trucking. owns and operates 45+ plus trucks and has sales of 1.4 a month on average. Balances look off only because main account is a sweep account but has never missed a payment oi n any cash advance in last 3 years working with him. Has paid off 600K Strategic loan, BFS, and Can. Looking for 500K, willing to pay off one or two of smaller balances on his own. Credit is mid 600. Direct funders only please, no brokers.

  2. #2
    Senior Member Reputation points: 338265
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    Quote Originally Posted by jjdcnetrex2 View Post
    My merchant currently has 3 advances, 220K with Knight in a first, about 20k with another and another 110k in a third. He is in trucking. owns and operates 45+ plus trucks and has sales of 1.4 a month on average. Balances look off only because main account is a sweep account but has never missed a payment oi n any cash advance in last 3 years working with him. Has paid off 600K Strategic loan, BFS, and Can. Looking for 500K, willing to pay off one or two of smaller balances on his own. Credit is mid 600. Direct funders only please, no brokers.
    Factor that! We don't chase after trucking, but would be happy to take a look. Kevin.Henry@SeacoastBF.com
    Kevin Henry
    VP-Business Development
    Seacoast Business Funding, a division of Seacoast Bank
    561-850-9346
    Kevin.Henry@SeacoastBF.com
    1880 N Congress Ave., Suite 404
    Boynton Beach, FL 33426

  3. #3
    Senior Member Reputation points: 5777
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    We will do it too. PM sent

  4. #4
    Member Reputation points: 817 Jplummer's Avatar
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    Does he have equipment he could use as collateral?
    Jim Plummer
    Quality Leasing Co., Inc.
    A Tom Wood Automotive Company
    Office: 317-253-4415
    Direct: 317-845-8768
    Fax: 317-688-6420
    Cell: 317-512-9618
    www.qualityleasingco.com

  5. #5
    Member Reputation points: 23 B2csp's Avatar
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    how much is his total balance right now? and is he looking for 500k net or 500k consolidating the current advances?

  6. #6
    Member Reputation points: 349
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    I can pull cash out of the truck, trailers and other equipment he owns. Our rates are lower than MCA's plus our payments are monthly

  7. #7
    Senior Member Reputation points: 4457
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    Do you still need help with this? My investor may be able to work this out.. let me know. If they like this, it will be the easy.

  8. #8
    Call Lorraine at 765.517.0975.

    Lorraine McNair - COO
    MoveAhead Financial
    2114 E Blvd
    Kokomo, IN 46952
    lorraine@moveaheadfin.com
    www.moveaheadfin.com
    765.517.0975

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