[JVD6905]

1. Looking for suggestions on lenders that will lend to new trucking businesses on Equipment (semi-truck)
2. Also looking for suggestions on equipment lenders that will lend to low fico score borrowers

[Alpha]

Sale leaseback is always an option for heavy equipment, question is how much equipment? Deals on a fleets are a lot easier to get done and have many more options with respect to companies that operate in that space. If it's only one truck, the companies that deal in that arena usually require it to be a local transaction, so options maybe be limited depending on location of your client. There are plenty of lenders that will lend to low fico borrowers for heavy equipment since it's collateralized and most likely will be the same local companies that would do sale and leaseback of existing equipment. Of course the transaction cost would be much greater for a sub prime borrowers. Location of client and size of deal are important factors determining placement of something like this.

[Jplummer]

We will do trucking start-ups if they have 3 years experience, FICO of 650 or higher (sometimes can go lower but nothing under 600), they have to be properly capitalized. If they have $10,000 in the bank month over month for 3 months and we will need to see a haul source letter indicating what their potential income is. We would typically look for 10-20% down + 1st payment. For the bad credit guys might try Maxim Commercial Credit or YES Leasing. They will typically require a pretty large down payment and they will also have much higher rates than your b-c space lenders.