[johndough17]

Construction company.

Merchant has two tractors.

He has two loans on them with a credit union at a 4.8% interest rate, and is fine with a higher rate, if he can pay it off to get it into his companies name (on his business).

Tractors worth $27,000 each.

Can anyone look at a small deal like this? Credit is 620 +.

Thanks

[FUNd]

Construction company.

Merchant has two tractors.

He has two loans on them with a credit union at a 4.8% interest rate, and is fine with a higher rate, if he can pay it off to get it into his companies name (on his business).

Tractors worth $27,000 each.

Can anyone look at a small deal like this? Credit is 620 +.

Thanks

He's going to pay a substantially higher rate on used equipment and most equipment lenders aren't going to entertain a private party sale from him to his company. It has to be an arm's length transaction. Save yourself the time. Either this guy will walk when he sees the interest rate or it will die in underwriting.

[johndough17]

He is fine with a high rate.

Who would get it done?

[FUNd]

He is fine with a high rate.

Who would get it done?

The big question on this one is why is he willing to pay thousands more over the life of the loan just to have the equipment in the business's name? What's the benefit?

[Jplummer]

give me a call we may be able to help

[johndough17]

Fund, all I care about is funding them.

Most folks taking 1.49s I feel are mentally challenged.

The big question on this one is why is he willing to pay thousands more over the life of the loan just to have the equipment in the business's name? What's the benefit?

[ryan $]

Fund, all I care about is funding them.

Most folks taking 1.49s I feel are mentally challenged.

If they can take money at a 1.49 and double the money they borrowed.... why are the Challenged? That's a 51% Return

[FUNd]

Fund, all I care about is funding them.

Most folks taking 1.49s I feel are mentally challenged.

Lol, I get that all you care about is funding them, but all the lender cares about is protecting their investment. These are elementary questions any competent underwriter will ask. There is no reason I can think of for someone to give up a smokin' rate on a loan just to get equipment financed under a different entity. Makes zero sense. Ask questions dude. You'll save a lot of time.

[Jplummer]

We wouldn't be a 4% rate however we would be a 1.49 factor either. rates usually in the low to mid teens.