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  1. #1

    Steve Benjamin (pro biz - Older Guy) equipment finance deal done !

    We had an equipment finance deal that was very difficult to get approved, and Steve came through and got it done! It was an old truck (2015) with a lot of mileage and he was the only one that could get an approval. Just wanted to shout out Steve for getting a tough file done!
    Last edited by jay114; 09-22-2022 at 03:19 PM.

  2. #2
    Senior Member Reputation points: 33095 Olderguy's Avatar
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    So Johanna and Jordan came to me with a file they couldn't get anyone to do...

    Truck purchase
    Over 500,000 miles
    rebuilt engine
    $42,000 purchase price

    Got them 100% financing for 4 years at $1,291 a month.
    Required first and last month down plus $500.

    My guy Tony was able to do it.
    Reach out to him and mention my name.

    Tony Borchello
    phone: (888) 211-2192
    mobile: (949) 800-5767
    tony@financeitforward.com
    Last edited by Olderguy; 10-24-2022 at 12:43 PM.
    Steve Benjamin
    Professional Business Loans

    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    949.228.1050

    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 6% and up
    @ Equipment financing up to 6 years
    @ Property loans - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Homeowner loan 2nd position- 15 year 8.99% no lien
    @ Private money equity and debt for major investments

  3. #3
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    Steve and I are working together on some deals as well and he was able to secure a RE deal that no one else was able to get approved - great guy - but I still tell funnier jokes G2e

  4. #4
    Senior Member Reputation points: 33095 Olderguy's Avatar
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    Quote Originally Posted by G2efunding.com View Post
    Steve and I are working together on some deals as well and he was able to secure a RE deal that no one else was able to get approved - great guy - but I still tell funnier jokes G2e
    So Gilbert came to me with a hard money loan in Hawaii. Problem was the property was in a trust and hard money lenders require the property taken out of trust put into a LLC, funded and then back in trust. Because of the laws in Hawaii, this wasn't feasible. So I got a lender to fund it in trust and I wired Gilbert his share at 50% commission of $3,288.75
    Steve Benjamin
    Professional Business Loans

    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    949.228.1050

    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 6% and up
    @ Equipment financing up to 6 years
    @ Property loans - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Homeowner loan 2nd position- 15 year 8.99% no lien
    @ Private money equity and debt for major investments

  5. #5
    Senior Member Reputation points: 14227
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    Quote Originally Posted by Olderguy View Post
    So Johanna and Jordan came to me with a file they couldn't get anyone to do...

    Truck purchase
    Over 500,000 miles
    rebuilt engine
    $42,000 purchase price

    Got them 100% financing for 4 years at $1,900 a month.
    Required first and last month down plus $500.

    My guy Tony was able to do it.
    Reach out to him and mention my name.

    Tony Borchello
    phone: (888) 211-2192
    mobile: (949) 800-5767
    tony@financeitforward.com
    100% financing is tough with EF for trucking, good job. Was the merchant credit profile 650+ with 2+years TIB and a homeowner?

  6. #6
    Senior Member Reputation points: 33095 Olderguy's Avatar
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    Irvine, CA
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    899

    TIB since 2.2020. Had to do it under wife due to his Fico. No previous truck financing experience. Yes homeowner. good deposits 60K, 90K 50K. Owned one truck.
    Steve Benjamin
    Professional Business Loans

    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    949.228.1050

    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 6% and up
    @ Equipment financing up to 6 years
    @ Property loans - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Homeowner loan 2nd position- 15 year 8.99% no lien
    @ Private money equity and debt for major investments

  7. #7
    Member Reputation points: 817 Jplummer's Avatar
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    Indianapolis
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    Quote Originally Posted by Olderguy View Post
    So Johanna and Jordan came to me with a file they couldn't get anyone to do...

    Truck purchase
    Over 500,000 miles
    rebuilt engine
    $42,000 purchase price

    Got them 100% financing for 4 years at $1,900 a month.
    Required first and last month down plus $500.

    My guy Tony was able to do it.
    Reach out to him and mention my name.

    Tony Borchello
    phone: (888) 211-2192
    mobile: (949) 800-5767
    tony@financeitforward.com
    That is a 47% almost 48% rate. We can do these types of deals with a lot better rate than that
    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

  8. #8
    Senior Member Reputation points: 33095 Olderguy's Avatar
    Join Date
    Sep 2021
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    Irvine, CA
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    Quote Originally Posted by Jplummer View Post
    That is a 47% almost 48% rate. We can do these types of deals with a lot better rate than that
    No...I think it was 1.14 buy 1.22 sell if I recall. Some other numbers involved if I remember.
    Last edited by Olderguy; 10-20-2022 at 12:55 PM.
    Steve Benjamin
    Professional Business Loans

    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    949.228.1050

    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 6% and up
    @ Equipment financing up to 6 years
    @ Property loans - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Homeowner loan 2nd position- 15 year 8.99% no lien
    @ Private money equity and debt for major investments

  9. #9
    We can help on deal likes this. That monthly payment seems extremely high for the equipment cost. We offer 100% finance programs to qualified customers. No age/mile restrictions.
    Connor Toomey
    Priority Capital – Account Executive
    174 Green St. | Melrose, MA 02176
    Direct: 339-293-6159
    Email- ctoomey@prioritycapital.com
    www.prioritycapital.com

  10. #10
    Senior Member Reputation points: 33095 Olderguy's Avatar
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    Sep 2021
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    Irvine, CA
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    I double checked it...payment was $1,291. My error.
    Steve Benjamin
    Professional Business Loans

    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    949.228.1050

    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 6% and up
    @ Equipment financing up to 6 years
    @ Property loans - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Homeowner loan 2nd position- 15 year 8.99% no lien
    @ Private money equity and debt for major investments

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