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  1. #1

    Trucking Company Averaging $600,000 per Month Seeking $150,000

    November
    72 deposits.
    Average ledger $15k.
    5 negative days.
    13 ODs.
    27 NSF.

    December
    49 deposits.
    Average ledger $19k.
    4 negative days.
    6 ODs.
    14 NSF.

    MTD
    $277k in deposits as of 1/18.

    Current advance balance is $114k.
    Credit score is 550.
    No real estate.
    Collateral:
    4 trucks valued at $18k each ($72k).
    19 trailers valued at $10k each ($190k).
    State of Florida.
    13 years in business.
    Home based.

    The merchant would like to keep payments under $12,000 per month.

    How can I get this done?

    Thank you in advance,
    Michael Sla*****er
    msla*****er@sla*****er.com
    Last edited by Michael Slabitcher; 01-22-2019 at 10:49 AM.

  2. #2
    4 Trucks doing $600k a month?

    Besides their 4 trucks, are they also doing freight forwarding or do they have other owner operators running under their authority?

    Robert S Bloink
    EVP of ISO Partnerships
    Direct: 248-341-9477
    Email: bb@cooperasset.com
    Web: www.cooperasset.com

  3. #3
    Senior Member Reputation points: 54975
    Join Date
    Dec 2013
    Posts
    4,713

    I know we are from the KINGS at funding Trucking-Transportation (and construction) ? ! but don't know this specific case...
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
    覧覧覧覧覧覧覧覧覧覧覧覧覧
    Tel: 917-521-6528 | Fax: 212.671.1473
    Email: bizdev@cresthillcapital.com
    http://www.cresthillcapital.com

  4. #4
    Senior Member Reputation points: 54975
    Join Date
    Dec 2013
    Posts
    4,713

    Quote Originally Posted by BB_Cooper View Post
    4 Trucks doing $600k a month?

    Besides their 4 trucks, are they also doing freight forwarding or do they have other owner operators running under their authority?

    Robert S Bloink
    EVP of ISO Partnerships
    Direct: 248-341-9477
    Email: bb@cooperasset.com
    Web: www.cooperasset.com
    Maybe just his collateral is 4 trucks and leases another 30 (example)... common to own a few and lease others... (those cant be used as coltr.)
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
    覧覧覧覧覧覧覧覧覧覧覧覧覧
    Tel: 917-521-6528 | Fax: 212.671.1473
    Email: bizdev@cresthillcapital.com
    http://www.cresthillcapital.com

  5. #5
    Senior Member Reputation points: 69645
    Join Date
    Mar 2016
    Posts
    897

    Quote Originally Posted by Michael Sla*****er View Post
    November
    72 deposits.
    Average ledger $15k.
    5 negative days.
    13 ODs.
    27 NSF.

    December
    49 deposits.
    Average ledger $19k.
    4 negative days.
    6 ODs.
    14 NSF.

    MTD
    $80k balance on bank statement as of 1/18.

    Current advance balance is $114k.
    Credit score is 550.
    No real estate.
    Collateral:
    4 trucks valued at $18k each ($72k).
    19 trailers valued at $10k each ($190k).
    State of Florida.
    13 years in business.
    Home based.

    The merchant would like to keep payments under $12,000 per month.

    How can I get this done?

    Thank you in advance,
    Michael Sla*****er
    msla*****er@sla*****er.com
    Its a tough one - but ill get an approval if he has a decent factor.
    Thank you,

    Lior Monus
    Business Development Manager
    CFG Merchant Solutions


    Direct: (646) 880-6764
    Cell: (516) 319-5826
    Fax: (646) 278-7322
    Lmonus@cfgms.com
    180 Maiden Lane New York, NY 10038

    www.cfgmerchantsolutions.com

  6. #6
    Mike send this one over seems like an easy deal to do. The only issue I foresee here is the low mtd rev, so send that along with the sub if you decide to give me a shot at it.
    Anthony
    Senior Funding Coordinator
    Anthony@fundersconnect.com
    Direct: 201-523-2596
    Fundersconnect Is An Approved Vendor of Delta Bridge Funding Products

  7. #7
    Quote Originally Posted by BB_Cooper View Post
    4 Trucks doing $600k a month?

    Besides their 4 trucks, are they also doing freight forwarding or do they have other owner operators running under their authority?

    Robert S Bloink
    EVP of ISO Partnerships
    Direct: 248-341-9477
    Email: bb@cooperasset.com
    Web: www.cooperasset.com
    The 4 trucks and the 19 trailers are the only equipment that can be used as collateral.

  8. #8
    Quote Originally Posted by Anthony@yellowstone View Post
    Mike send this one over seems like an easy deal to do. The only issue I foresee here is the low mtd rev, so send that along with the sub if you decide to give me a shot at it.
    Anthony,

    The MTD revenue is around $277k. The $80k is the money he had sitting in his bank account on the 18th of this month. I am sure you can provide him with the funds. The hurdle here is the $12K per month payment. That's why I listed the collateral. He needs terms going as far as 18 months for that type of payment assuming a 1.5 factor.

  9. #9
    Banned Reputation points: 11251
    Join Date
    Jan 2017
    Location
    New York, NY
    Posts
    59

    Michael, I just emailed you. I have some solutions that is a mix of an advance along with some lines of credit and term loans

  10. #10
    The merchant needs the money asap. We are now seeking a 6 month term minimum.

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