Results 1 to 12 of 12
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03-03-2023, 04:18 PM #1
- Join Date
- Jan 2019
- Posts
- 117
Who can come behind a merchant that was recently funded?
Merchant is a trucker. His revenues are $65000, $95,000 and $65000. Took a small advance a week ago for $4000. It would be a second position. Caveat. Only one truck.
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03-03-2023, 04:39 PM #2
- Join Date
- Nov 2019
- Posts
- 691
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03-03-2023, 04:40 PM #3
If the truck is free and clear, I can get him 50% value in a week or less.
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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03-03-2023, 04:46 PM #4
- Join Date
- Jan 2019
- Posts
- 117
I asked him the same question. He rents the truck. Not owned. Most of my truckers that have only one truck are doing 50-75,000. I've got many one truck guys that I'm trying to get funded, that I used to have no problem getting funded, and now, the way things are, the offers are very low, as I'm sure you see in this industry these days. He spiked in December, which is understandable. One truck is getting very hard to fund these days. Maybe Cooper Asset or Lending Valley? CFG? Btw, his month ending balances are $912, $2289, and $7227. Not great, but shouldn't be getting declined for that.
Last edited by k lion; 03-03-2023 at 04:54 PM.
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03-03-2023, 04:56 PM #5
If Fico over 700, I've gotten a trucker $69,000 with $10,000 a month in deposits. Business CC/LOC.
Bailey at Midwest Corporate Credit.
(630) 974-5507
(630) 281-5915
Bailey@midwestcorporatecredit.comLast edited by Olderguy; 03-03-2023 at 05:35 PM.
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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03-05-2023, 04:41 PM #6
- Join Date
- Dec 2021
- Posts
- 638
Trucking is very tough with current Diesel Prices $4.47 -- to really fund trucking successfully we would need to see diesel high 2's to low 3's --- I guess best way to explain trucking is to view diesel as truckers price to rent location .... right now rent (diesel) is just to high to work effectively for an MCA product.
2.650 (2017) 3.178 (2018) 3.056 (2019) 2.551(2020) 3.287(2021) 4.989 (2022) That 4.98 of 2022 must have wiped out a lot of specific funders powder.Last edited by MCA-VET; 03-05-2023 at 04:46 PM.
Marcus Clapman
Capybara Capital
marcus@capybarausa.com
www.capybarausa.com
646-708-5986 (Text Friendly!)
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03-06-2023, 12:25 PM #7
- Join Date
- Apr 2021
- Posts
- 121
Sounds like this is a prefect fit for hybrid
Email us today kevin@hybridadvancellc.com
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03-08-2023, 12:50 PM #8
Has one truck and makes $65k per month?
This man is either the most industrious trucker on earth or works for the Mexican cartel. Either way, if he has prior MCA payment history, send it over, and I'll get you an approval.We specialize in funding:
Deals w prior Defaults
"Over Leveraged" deals
All Positions (as long as there is space)
Low FICO scores
and all other "difficult" deals
To submit a file or to request an ISO Agreement, kindly email underwriting@supremefunding.net.
I look forward to hearing from you.
Rasheed Miller
(917) 933-3095 (text or call)
https://supremefunding.net/
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03-08-2023, 05:57 PM #9
- Join Date
- Jan 2019
- Posts
- 117
Almost all of his deposits are from sunbelt finance, a factoring company. They pay on invoices, and would know the difference if the work wasn't real, so the 95k should be legit. Hard to know why funders are saying his balances are too low. This guy should be fundable. He does rent the truck, but these days, thats more reliable than owning one truck, because if it breaks down he gets anew one. One truck owners are out of business when the truck breaks down.
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03-08-2023, 06:02 PM #10
- Join Date
- Jan 2019
- Posts
- 117
Kevin. Can you give a guy a decent offer that rents his truck, numbers are 95k, 65k, 65k, just took a tiny 4000 40 day advance and has a factor in place? My opinion is that a guy whoo rents his truck is far lesk risky than a guy that ones one. If it breaks down, they give him another one, while the own truck owner is stranded.
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03-08-2023, 07:54 PM #11
- Join Date
- Jan 2019
- Posts
- 117
Yes. He's doing 65 to 95k. If you remember, I sent you a one truck trucker a couple of weeks ago, who does 120k with 1 truck(he has two, but ones in the shop) Then we tried getting him a term loan, but he's overleveraged, and credit is just below the minimum, plus, most guys show a loss on their taxes. . I think I sent you a few of these. These guys all need funding, and I would be happy to resend them. I think they will all take dailys at this point. These guys all think they qualify for things they don't. But again, anyone who thinks they can fund these guys let me know. By the way. Its Kevin Harms, Scott.
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03-28-2023, 04:39 AM #12
Send us the file, merchant will have to agree to intercreditor agg
Daniel Semple - Manging Member
daniel@alliancecapitalus.com
www.alliancecapitalus.com
646.907.5781
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