700k a month avg balance 75k auto wholesaler only 50k floor plan(Next Gear) 150k ask
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  1. #1

    700k a month avg balance 75k auto wholesaler only 50k floor plan(Next Gear) 150k ask

    Any lender consider Car Wholesalers Different from Auto sales anymore?

    I know BFS does but, my clients only been in business for 11 months. Banks are clean, no negatives & very healthy daily balances as mentioned in subject line.

    Looking for something short term with early payoff discount. Ideally a 3-6 month deal that he can payoff early with a discount or pull new capital after 2-3 months. Trying to mimic an L.O.C.

    We have a 80k offer now for 8 months, turned down a 100k offer for 10 months. The goal is to renew this merchant every couple months or knock out w/ discount & repeat.

    He has Kabbage and wants to keep it. He pulled 80k from them last month & paid it back already.


    Direct lenders only please

  2. #2
    Senior Member Reputation points: 227882
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    Did you send the guy to Bluevine or Fundbox? Those are real LOC.

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