[Fundyman]

I know this must have been discussed before, but I need a truck financing company for startups. A lender that won't really care who the vendor is, as long as the specs are decent.

They care about borrower credit (borrowers have decent to good credit), but as long as the truck specs work, they're not too concerned about the vendor.

Please let me know ASAP. It's best to send PM.

[Fundyman]

Just refreshing this since yesterday was a holiday.

[Olderguy]

Apply for a start up business credit card or LOC.

I just got a start up trucker $69,000 when all he could get on a MCA was much smaller amount.

Business Credit Cards (BCCs)
The most popular product. Up to $150,000 in 30-60 days for brand new startup companies.
Larger amounts are available for more established companies with strong revenues.
Overview and Benefits - This Program Is Available In All 50 States
- To Qualify - Minimum needed is a business entity and a guarantor with a strong personal
credit profile
- These Lines of Credit Do Not Report To Personal Credit as long as accounts are in good
standing. Clients keep their business and personal credit separate.
- Visa/MC Corporate Credit Cards - Funds come in the form of business Visa/MC credit
cards in the company name. These cards are non-vendor specific; i.e. The cards will NOT be
cards that can only used with certain stores, like a Macy’s, Staples, or Home Depot card.
- 0% Intro Rates on Purchases and/or Balance Transfers for the first 6-12 months on
most, if not all the cards. We can avoid lenders that do not offer 0% intro rates, if desired.
- Rates typically 9.99%-19.99% or so on Purchases after the Introductory 0% Period.
Rates vary based on strength of the guarantor’s personal credit profile.

- Possible additional promotional rates in the future. We can teach people how to use ac-
counts strategically, so that after the initial 0% rates expire, they can increase their chances of getting additional promotional rates in the future. Some past clients consistently get 0% on
Balance Transfers for 12- 18 months, with just a one time 2-4% balance transfer fee.
- Pre-revenue and startup companies can apply and receive these cards also, as well as
established companies, of course. Biggest factor for approval is strength of personal credit.
- No collateral required - Clients don’t have to tie up personal assets to obtain financing.
- Revolving Accounts - Lines of Credit can stay open for the life of the business.
- Up to $100,000 in Business Credit Cards for business entities less than 2 years old.
- Up to $150,000 in Business Credit Cards if the business is 2+ years old w/ good revenues.
- Accounts typically report to client’s business credit profile every month, which will help
the company be more likely to get higher approval amounts and better terms on other Cards,
Loans, and Lines of Credit in the future. Usually Corporate Experian or Commercial Equifax.
- Lender provides the client a Fast, no-cost Funding Estimate usually available within one
business day. Clients need to submit a one page pre-qualification form and a three bureau
personal credit report. This way they have a reasonable expectation of approval amounts.

Business Credit Card Features and Benefits, continued

- Most clients receive one or more ‘Instant Approvals’, where a lender approves their ap-
plication in 48 hours and sends out the cards right away. In this case, the client can receive
30-50% of the total funding they are going to receive within about two weeks.
- Clients typically receive all cards in as few as 15 days, nearly always within 30 days.
- Balance Transfer Checks - Clients who use their accounts properly for the first 6 months or
so may be offered Balance Transfer Checks by the lenders. They can use these checks to
make a deposit right into a business checking account, allowing them to be completely liquid.
- Credit Limit Increases available after properly servicing the accounts for a few months.
Past clients have doubled and tripled their limits on some cards within 15-18 months, with
some people building up to $50,000 to $100,000 per card. Clients must request increases.

They charge a 10% success fee and we get 2.5% and we get paid on residuals.
Tell Bailey I sent you.

BAILEY BLASDEL
Midwest Corporate Credit
(630) 974-5507
Bailey@midwestcorporatecredit.com

If you mention my name, he will send me a small referral fee.

[Fundyman]

Thanks, Steve. But whenever I go that route, it usually takes longer than desired... The process really takes weeks, & then it's like how to get that down payment in cash once the credit is established..? We should discuss someday, as I feel we'll have plenty opportunities to work together.

So far, I managed to get this one standard financing, but I still wish to have a general go-to lender for the "rinkidink" equipment financing needs, where borrower credit is very decent, they have the down payment & the equipment (mainly the truck) is under 6 years old.

[Olderguy]

There are several equipment lenders that you can go to - if do you do a search you'll find them....

[michaelh]

What Kind of trucks? What Kind of hauling? Interstate? IntraState? Contracts or Brokered freight?

Mike