Logistic company grossing 250k monthly looking for RLOC
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  1. #1

    Exclamation Logistic company grossing 250k monthly looking for RLOC

    Hello Everyone,

    Merchant is looking for a RLOC or term loan. Looking for 200,000 and is grossing about 250k monthly. Has no positions. Credit is score is around 700.

    Thank you!

  2. #2
    Senior Member Reputation points: 338677
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    Quote Originally Posted by Igm View Post
    Hello Everyone,

    Merchant is looking for a RLOC or term loan. Looking for 200,000 and is grossing about 250k monthly. Has no positions. Credit is score is around 700.

    Thank you!
    IGM-$250k/month is too small for our ABL program, but I would be happy to see if they qualify for our revolving factoring facilities.

    KH
    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

  3. #3
    Senior Member Reputation points: 5016 @jeannette's Avatar
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    If they have equipment and they would like to refinance for Cash Out we may be able to get them what they are looking for, however we require the AR as well.
    Jeannette Nearing | Business Development Officer| AmeriFactors
    | M (770) 362-2307
    jnearing@amerifactors.com |

    http://www.amerifactors.com
    https://www.linkedin.com/in/jeannettenearing

  4. #4
    Quote Originally Posted by Igm View Post
    Hello Everyone,

    Merchant is looking for a RLOC or term loan. Looking for 200,000 and is grossing about 250k monthly. Has no positions. Credit is score is around 700.

    Thank you!
    First position?

  5. #5
    Quote Originally Posted by Igm View Post
    Hello Everyone,

    Merchant is looking for a RLOC or term loan. Looking for 200,000 and is grossing about 250k monthly. Has no positions. Credit is score is around 700.

    Thank you!
    Bluevine will do with Single Digit Rates , they only pay 3% though . I'm approved with them if you want to work something out . If you present as trucking Ondeck will do it too as a term loan product (12 months or so)

  6. #6
    Senior Member Reputation points: 27404
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    Quote Originally Posted by microboby View Post
    Bluevine will do with Single Digit Rates , they only pay 3% though . I'm approved with them if you want to work something out . If you present as trucking Ondeck will do it too as a term loan product (12 months or so)
    dont know about single digit rates... but the 3% for real
    Steven Jones
    www.davincinc.com
    Steven@davincinc.com
    PH: 210-290-4102
    "We can beat your offer!"

  7. #7
    Senior Member Reputation points: 203690
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    Quote Originally Posted by microboby View Post
    Bluevine will do with Single Digit Rates , they only pay 3% though . I'm approved with them if you want to work something out . If you present as trucking Ondeck will do it too as a term loan product (12 months or so)
    Their single digit rates are weekly or monthly...so yearly merchant is paying same cost as mca or more in some cases.

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