Results 1 to 8 of 8
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03-05-2020, 11:05 PM #1
- Join Date
- Feb 2020
- Posts
- 4
Trucking company
Been Having a very difficult time with this,
660+ CS
250k quarterly deposits
Been in business 2 years
No positions
200k daily balance
Logistics
Cant seem to get him anything...guy does not want to do invoice factoring
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03-06-2020, 01:08 AM #2
- Join Date
- Sep 2019
- Posts
- 402
He dies 1 deposit everything 3 months of 250k? So thats an average of 0.33 deposits per month, and we only get 3 months of bank statements! And you're wondering why no one will fund him?
Also who *doesn't* want to do invoice factoring? Does the guy enjoy paying more for his money?
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03-06-2020, 08:07 AM #3
- Join Date
- Feb 2017
- Posts
- 3,463
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03-06-2020, 03:06 PM #4
Most likely he is leased on to a company and that company is paying him on a quarterly basis and he does not own the invoices, this disqualifies him from factoring. He owns his deposits and his sales, but the invoices would not be his to sell and he would have already tried factoring and been rejected in the past....just a guess.
Jeannette Nearing
Jeannette.Nearing@klpholdings.com
770-362-2307
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03-06-2020, 03:13 PM #5
- Join Date
- Oct 2019
- Posts
- 49
need a minimum of 6 deposits a month. For the smarter merchant
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03-06-2020, 03:29 PM #6
Accord does trucking / logistics under these guidelines:
TIB: Min. of 2 years
Min. Credit: 600
Avg. deposits: $20K
Min. # of deposits: 3 (consistent and relative in size with other deposits)
1st and 2nd positions only
Let me know if I can help.Kevin Dinh
3131 Eastside Street, Suite 350
Houston, TX 77098
P: 713-322-9743
Email: kdinh@accordbf.com
Web: https://go.accordbf.com/DF-Partners/
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03-08-2020, 09:48 PM #7
- Join Date
- Feb 2020
- Posts
- 4
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03-09-2020, 09:14 AM #8
If he has equipment to pledge as collateral we might be able to do a sale leaseback on part using his equipment. Really depends on what he is trying to accomplish.
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
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