ABL based on Equipment
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  1. #1

    ABL based on Equipment

    Looking for suggestions

    ABL based upon Equipment... scenario. Trucking company owns a fleet of trucks free and clear and would like to utilize that for a loan without necessarily having to move their AR/ Factoring facility to said potential lender

  2. #2
    Senior Member Reputation points: 338677
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    Quote Originally Posted by JVD6905 View Post
    Looking for suggestions

    ABL based upon Equipment... scenario. Trucking company owns a fleet of trucks free and clear and would like to utilize that for a loan without necessarily having to move their AR/ Factoring facility to said potential lender
    I highly doubt anyone will do a stand-alone equipment financing for the Company if this is the same Company with the IRS tax lien with no payment plan.
    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
    Quote Originally Posted by Kevin Henry-Seacoast View Post
    I highly doubt anyone will do a stand-alone equipment financing for the Company if this is the same Company with the IRS tax lien with no payment plan.
    I never said anything about having an IRS lien in my post .....

  4. #4
    Senior Member Reputation points: 17365 jfeinberg's Avatar
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    If they are long haul sleeper's than no one will be able to do a cash out refi. However if they are short haul, than we have a shot of getting it done. ISO@everlastingcapital.com

  5. #5
    Member Reputation points: 817 Jplummer's Avatar
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    we have done cash out deals on long haul trucks in some cases but they still have to show decent credit, good cash flow and reserves in the bank.
    Jim Plummer
    Quality Leasing Co., Inc.
    A Tom Wood Automotive Company
    Office: 317-253-4415
    Direct: 317-845-8768
    Fax: 317-688-6420
    Cell: 317-512-9618
    www.qualityleasingco.com

  6. #6
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    Quote Originally Posted by JVD6905 View Post
    I never said anything about having an IRS lien in my post .....
    Then this must be a different company than the one you called about yesterday.
    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

  7. #7
    Quote Originally Posted by Kevin Henry-Seacoast View Post
    Then this must be a different company than the one you called about yesterday.
    indeed sir

  8. #8
    JVD6905- we are a direct lender who would be interested in this transaction. We have done a sale and lease back on a fleet of trucks before.
    What's the best way to reach out?
    My number and email are 847-784-0011 and calfalkenhayn@elgallc.com

    Regards,
    Cal Falkenhayn
    Cal Falkenhayn | Senior Account Executive
    Equipment Leasing Group of America
    211 Waukegan Road, Suite 100 |Northfield, IL 60093
    O: 847-784-0011 | F: 847-784-0066 | M: 847-922-2729
    calfalkenhayn@elgallc.com | www.elgallc.com

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