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  1. #1

    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

  2. #2
    Senior Member Reputation points: 91418
    Join Date
    Sep 2019
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    Quote Originally Posted by Mike1987 View Post
    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
    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?

  3. #3
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    Quote Originally Posted by Mike1987 View Post
    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
    Find out the real reason why he's not doing invoice factoring. It could be that he doesn't want notification. There are a couple of options for clients like this, let me know if you want to co-broker.

  4. #4
    Senior Member Reputation points: 5016 @jeannette's Avatar
    Join Date
    Dec 2012
    Location
    Buford, GA
    Posts
    280

    Quote Originally Posted by abfunders View Post
    Find out the real reason why he's not doing invoice factoring. It could be that he doesn't want notification. There are a couple of options for clients like this, let me know if you want to co-broker.
    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

  5. #5
    need a minimum of 6 deposits a month. For the smarter merchant

  6. #6
    Senior Member Reputation points: 3366 Accord Business Funding's Avatar
    Join Date
    Feb 2016
    Location
    Houston, Texas
    Posts
    152

    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/

  7. #7
    Quote Originally Posted by SFC View Post
    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?
    I have a whole year of statements, And he is not budging, he wont do invoice factoring

  8. #8
    Member Reputation points: 817 Jplummer's Avatar
    Join Date
    Oct 2014
    Location
    Indianapolis
    Posts
    75

    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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