Results 1 to 5 of 5
-
10-17-2019, 03:44 PM #1
- Join Date
- Jun 2017
- Posts
- 39
Debt Free $7.5M in New and Used Cars - Needs $1.5M Loan or LOC
My client has $7.5M in New and Used Cars that are Debt Free. he needs $1.5M Loan or LOC.
We are looking for a direct lender in the single digit to low teens that will use the existing inventory as collateral?
Thanks.
-
10-17-2019, 06:41 PM #2
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,993
New cars in a dealership already have a lein on them - called a floor plan
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
-
10-18-2019, 08:50 AM #3
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Yankee is correct- we HAVE though arranged 1.5M loans for the Dealerships if they own other collateral and the credit/earnings support it
-
10-18-2019, 09:12 AM #4
- Join Date
- Jun 2017
- Posts
- 2,049
New Cars Debt Free, yeah....prob not likely.
I have seen used cars owned ourtright for dealerships before
-
10-18-2019, 01:02 PM #5
- Join Date
- Jun 2017
- Posts
- 39
Some are new and some are used. They have financing in place for some of the cars, but $7.8M are debt free. Any suggestions who we can approach?
Similar Threads
-
$7.5M in New and Used Cars - Debt Free - Needs $1.5M Loan or LOC
By ABL America in forum All Other LendingReplies: 2Last Post: 10-18-2019, 08:54 AM -
Free and Clear Dental Equipment Loan
By brokerCompany in forum Business LoansReplies: 0Last Post: 12-10-2018, 03:28 PM -
Student Loan/Debt Consol
By themoneyguy in forum All Other LendingReplies: 0Last Post: 09-05-2016, 01:47 PM -
Has over 1m in equipment debt free they want to finance- any lenders??
By jeffcapital in forum Deal BinReplies: 4Last Post: 04-19-2016, 09:12 AM -
need a loan collateralized on a property in FL ....free and clear
By clear2close in forum All Other LendingReplies: 3Last Post: 05-29-2014, 09:32 AM