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  1. #1

    Truck paid in full

    Hello is there a lender that can do a loan or funding for a trucking company that has trucks paid in full? text 813-703-5443 Dave

  2. #2
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    Yes ABL - I've a lender that did invoice factoring 2.2% (Trucking company was paying 3% to 7% factor on his invoices) and then $150K ABL for 8 trucks that were free and clear. It was only 12 months. Unless there is a significant amount of trucks and dollars, this option isn't worth it. You'll have to shop around if it's a small value asset.
    Last edited by Olderguy; 04-21-2022 at 03:18 PM.
    Steve Benjamin
    Professional Business Loans

    1012 Contessa
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    @ 24 hour funding working capital loans
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  3. #3
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    Quote Originally Posted by Mr. Money Man View Post
    Hello is there a lender that can do a loan or funding for a trucking company that has trucks paid in full? text 813-703-5443 Dave
    I don't chase trucking deals unless they are large. Triumph Business Capital is huge in financing trucking companies and so is Crestmark. TAB is also a good call.
    Hedley Lamarr......That's Hedley

  4. #4
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    I agree with Hedley on this one.....try Lendspark in San Diego...

    https://www.lendspark.com/

    They are expensive (MCA rates) but flexible on equipment deals....their specialty.
    Steve Benjamin
    Professional Business Loans

    1012 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.

  5. #5
    Thanks to all for the direction!!

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