[ryan $]

Trucking Deal.
1st Position.
Killed because Merchant doesn't have Active DOT Business License.

On Deck has Previously Funded Merchant.
They will Fund Him again, without requesting new DOT License because they have old one on file.

Im pretty much screwed right? Im going to lose this deal to Ondeck....

Anyone know a lender for trucking that will give me a 10 Month, Weekly Payment, 100k Offer.... and not have the DOT License as a Stip..... (Volume, Credit, Everything Supports this) I had it die because not DOT License.


I mean he is pretty much a screw up....he is illegally operating at this point right? Just need some affirmation, is there hope or is this dead?

[Lmonus]

Damn this situation sucks. How long has he been paid off with OnDeck? Is there a way where you can submit the deal to them and gain credit?

[@jeannette]

He is illegally operating. If his clients look him up (or receive notification) they are not required to pay him for the work they have done. Usually the license gets suspended for not having proper insurance coverage and can be reinstated easily, which is why he probably needs the money.

[Hedley Lamarr]

Trucking Deal.
1st Position.
Killed because Merchant doesn't have Active DOT Business License.

On Deck has Previously Funded Merchant.
They will Fund Him again, without requesting new DOT License because they have old one on file.

Im pretty much screwed right? Im going to lose this deal to Ondeck....

Anyone know a lender for trucking that will give me a 10 Month, Weekly Payment, 100k Offer.... and not have the DOT License as a Stip..... (Volume, Credit, Everything Supports this) I had it die because not DOT License.


I mean he is pretty much a screw up....he is illegally operating at this point right? Just need some affirmation, is there hope or is this dead?

Ryan,


Seems like a smaller trucking company that will not get us too excited.

The absolute best thing to do is find out why his DOT lapsed. If it was because of items listed by Jeannette, you should really consider seeing if she can finance the Company so long as the DOT is in place at closing. If they are providing services for large customers you can cool believe they are going to stop payment on all AR once they find out he is not current with his DOT.

KH

[ryan $]

Damn this situation sucks. How long has he been paid off with OnDeck? Is there a way where you can submit the deal to them and gain credit?

tried, cant get credit.

[Hedley Lamarr]

If they let their DOT lapse I bet you money there are other issues. DOT is critical to their business. Get them a partner like Jeannette that can help them.

[mcaguru]

Mantis

[ryan $]

Mantis

Ill send it lets see the term i get

[Chambo]

How does a Trucking Company NOT have an active DOT license? Isn't that sort of like a doctor operating without a medical license?

[ryan $]

After digging depper he has a Hauling Agreement with Someone else and is operating under their DOT #.

Deal is back Alive.

Thanks.

[Hedley Lamarr]

How does a Trucking Company NOT have an active DOT license? Isn't that sort of like a doctor operating without a medical license?

Come on Chambo..... plenty of those fix-a-flat cosmetic surgeons running around.

[mcaguru]

After digging depper he has a Hauling Agreement with Someone else and is operating under their DOT #.

Deal is back Alive.

Thanks.

BH!

[Zonefund]

After digging depper he has a Hauling Agreement with Someone else and is operating under their DOT #.

Deal is back Alive.

Thanks.

Ryan if you cant get that 10m, i can broker 11m 1.20-1.22

[Zonefund]

Buy rate