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10-25-2017, 04:46 PM #1
- Join Date
- Oct 2017
- Location
- Orlando, FL
- Posts
- 12
Where to get tough equipment deals done
Thought I would share my experience with this lender. I have down about 5MM in loans through this company. They loan up to 75% of the auction value of the equipment. A few have been where a dealer was selling new equipment, and the customer came up with the remaining balance. I did have one cash out customer where they owned about 48 pieces of equipment, and put it all up and received cash back on a 48 month capital lease in the low teens with a small buy out. Customer loved the fixed monthly payments and used the money as he was going to go the working capital cash advance route. Have also done a combination of owned equipment + purchase equipment and there was enough owned equipment to cover closing and get the customer a few grand back.
They don't require financials, bank statements or anything, just a list of equipment. They are a little conservative on values, and their minimum is typically 500K. My only complaint is it is not a quick process. But heck, getting that cheap of money... with scores in the 400's and liens, judgements etc.. its well worth it.
Collateral Only Loans, LLC
2783 Martin Road #210
Dublin, OH 43017
T: 800-226-0049
F: 800-226-4940
E: info@collateralonlyloans.com
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