Results 1 to 11 of 11
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04-24-2019, 12:10 AM #1
- Join Date
- Aug 2018
- Posts
- 843
Best sba bank for transportation companies
Which sba bank would be the best fit for large transportation companies?
Here are details:
-15+ tib
-740 fico
-Cross country trucking
-1.3m avg monthly rev, adb 200k, no neg days
-17 returns show small loss
-18 returns show strong profit
-Over 50 trucks as collateral, debt is 2mill, forced liquidation value of equip is 4mill
-A/R currently factored, but he has 800k-1.4m outstanding
-Owns the biz location (industrial location) where trucks are stored, 1.2mill total value, 240k lien w/ his bank
Thanks in advance for any advice on where to place it. I only work w/ smartbiz and newtek (commish here is very low).
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04-24-2019, 12:29 AM #2
- Join Date
- Apr 2019
- Posts
- 10
Currently in process of funding deal where client has strong revenue and collateral similar to your client.
We can used trucks and real estate as collateral for the loan.
Let's talk to get a better understanding of this deal. Rob, 1-877-219-9576
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04-24-2019, 08:17 AM #3
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,501
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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04-24-2019, 10:35 AM #4
It will depend on what state the business is in.
Sean Hawley
CEO
BLF
Bright Light Freight
shawley@brightlightfreight.com.com
631-210-6327
SBA, Term Loans, LOC, MCA & Equipment Finance (Transportation & Trucking)
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04-24-2019, 11:22 AM #5
- Join Date
- Apr 2015
- Location
- Louisiana
- Posts
- 299
I would recommend Stone Bank, they like cleaning up balance sheets.
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04-24-2019, 12:04 PM #6
- Join Date
- Dec 2013
- Posts
- 4,713
newtek
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
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04-24-2019, 12:07 PM #7
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,501
I think he is seeking an alternative to Newtek.....
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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04-24-2019, 12:30 PM #8
- Join Date
- Dec 2013
- Posts
- 4,713
got it....
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
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04-25-2019, 01:15 AM #9
- Join Date
- Aug 2018
- Posts
- 843
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04-25-2019, 01:16 AM #10
- Join Date
- Aug 2018
- Posts
- 843
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04-25-2019, 06:10 AM #11
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,501
RTS is very good. Trucking is all they do. If we came in and provided some savings on factoring it probably would not increase cash flow that much and RTS would likely lower rate to keep the client. It they were paying high teens it would make much more sense.
Since the equipment is levered at 50% of LV....there is not much there. You best bet would be finding liquidity in the real estate. You best bet would be finding a traditional loan on the real estate. If the company is in Florida, I would be happy to show it in to our commercial team.Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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