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06-05-2018, 01:13 PM #1
- Join Date
- Nov 2014
- Location
- Fort Lauderdale, FL
- Posts
- 66
Truck as collateral
I have a trucking company that has been in operations for 1.5 years. They do long hauling. They need 20-25k for long term (12-24 months).
Credit Scores: (480-500): Supposedly due to fraud
Collateral: 2009 Kenworth with 700k miles (Auction vaue around 28k)
Monthly revenue: 20k-25k
Average daily balances: $2,500 - $3,000
NSF's or Overdrafts: None
They are not interested in any short term MCA.
Shoot me an email if you can help.William R. Mateo
Mateo Capital Group
Tel: (954)802-2833|Fax: (888)860-1508
http://www.mateocapitalgroup.com
Supporting Common Sense Financing!
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06-05-2018, 01:50 PM #2
- Join Date
- Sep 2014
- Posts
- 263
You need to understand that equipment on a sale leaseback is valued at the wholesale Liquidation value - so looking at 2009 Kenworth 660 values that is around 19,000. You can usually get 50 percent of the value as a loan.
Any More Questions
PM me
Mike Henry
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