Results 1 to 8 of 8
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10-05-2021, 01:41 PM #1
- Join Date
- Oct 2021
- Posts
- 13
Line of Credit for Trucking and Logistic companies
Who are your go to funders and lenders? Tia
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10-05-2021, 01:51 PM #2
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,477
Everybody and their Dutch Uncle factors or provides asset based lines of credit to trucking companies. I don't care for the industry unless they are doing well over $50Mil/Year.
KHKevin 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
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10-05-2021, 02:10 PM #3
Target and tons others...I have a guy who deals with all of them and I just send the file to him...problem is 620 Fico needed and nobody has any inventory.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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10-05-2021, 02:20 PM #4
- Join Date
- Oct 2021
- Posts
- 13
Thank you guys
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10-05-2021, 02:24 PM #5
- Join Date
- Aug 2021
- Posts
- 69
I can get a line of credit for this business. Give me a call. Thank you.
Brandon Dressler
brandon@preferredfundinggroup.com
815-878-0244
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10-05-2021, 02:39 PM #6
- Join Date
- Feb 2017
- Posts
- 3,411
True LOC for trucking? If the yearly revenue is $1mm, and FICO isn't half-bad, then it is doable. But the trick is that standard trucking factors will have some other advantages like the gas cards that these truckers just love.
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10-07-2021, 08:10 AM #7
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
There are banks that specialize in Logistics. True 'lines' are typically available with eligible AR above 500k. Rates get MUCH better when AR is above 1M. If their clients are substantial and there aren't concentration issues- these deals can turn quickly.
FICO isn't an issue for the aforementioned products- credit insurance issues and other UCC's are the more pressing challenges.
Feel free to touch base...
richard@bccusa.com
beforeyouborrow.com
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08-23-2022, 10:06 PM #8
- Join Date
- Aug 2022
- Posts
- 11
Sir, are you still in of funding?
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