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12-29-2014, 04:58 PM #1
- Join Date
- Jul 2014
- Posts
- 74
Seasonal Trucking Business
I have a merchant averaging $50k in deposits from may-oct, but drops down to $1k in nov because of their slow season. However, December MTD show deposits in the $20k range.
Any lenders that can make an offer when looking at payback months assuming the average is $50k, or is the nov drop a huge red flag?
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12-29-2014, 07:02 PM #2
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
question is: Why would the business drop to nearly zero? You could try to submit 12 bank statements to show annual dollars, but the client would likely need to show strong profits, have business longevity, and not be 'liened up' to have anyone offer any substance. Maybe look into a spot factor if he has any worthwhile paper...
Feel free to call.. Richard 516 510 3855
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12-30-2014, 12:30 PM #3
MCA, we could do this deal as long as the payback months (Jan-Apr 2014) look good.
Cheryl Tibbs
Superior Capital
ISO Account Manager
Direct: 678-435-9743
Fax: 817-665-3819
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12-30-2014, 02:24 PM #4
- Join Date
- Dec 2014
- Posts
- 93
If you still need a home for this one please call me!
Erin Dreselly
World Business Lenders
81 Market Sq., Suite 7
Newington, CT 06111
Direct: 860-549-2419
Cell: 860-692-4636
Fax: 860-499-5413
Email: edreselly@wbl.com
Web: www.wbl.com
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01-05-2015, 11:15 AM #5
- Join Date
- Jul 2014
- Posts
- 74
Payback months look good, as does December 2014 ($30k in deposits). It's just Nov 2014 that had a huge drop.
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01-05-2015, 11:22 AM #6
Mca123, if you have 12 months statements I can take a look at it, give me a call 718 316 3323 or email me at allen@trustcapitalfunding.com
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01-05-2015, 11:49 AM #7
- Join Date
- Jul 2014
- Posts
- 74
I have 12 months. The owner has a 680 credit, Any lenders with terms in the 8-12 month range for auto/truck sales?
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01-05-2015, 11:57 AM #8
If its a first position I can go in that term range
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01-23-2015, 01:00 PM #9
- Join Date
- Jan 2015
- Posts
- 29
If you still need help for this, please email me at funding@berkmanfunding.com
Last edited by SK215; 01-23-2015 at 02:17 PM.
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