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  1. #1
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    1st position trucking. 7 years tib /110k monthly rev

    Who would be the best lender for a 1st pos trucking deal, with 7 trucks, strong balances, averaging 110k a month in a good state for mca?

    Ty

  2. #2
    Senior Member Reputation points: 337045
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    You might want to consider a factoring facility. There are a host of good companies out there that focus on trucking. They might be more cost effective, it would be a revolving facility, and most pay referral sources.

    I don't chase trucking as there are a host of companies out there that do smaller deals. Larger deals are of interest, but I really don't chase the industry. I recently was referred a nice company seeking to replace their factor. I told the referral source that their current factor is very large in the industry and the prospect actually has a pretty good deal. The prospect was with their factor for several years.
    Hedley Lamarr......That's Hedley

  3. #3
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    I have a lender who is pushing through SBA for truckers if they qualify. Reach out. Does take a month but 10.5% interest 10 years. I also have a guy who is doing cash out refi on trucks that are free and clear...usually 3 - 5 years at around 19%
    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.

  4. #4
    Senior Member Reputation points: 9802
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    Quote Originally Posted by Zonefund View Post
    Who would be the best lender for a 1st pos trucking deal, with 7 trucks, strong balances, averaging 110k a month in a good state for mca?

    Ty
    I should be able to get this deal done if daily balances and credit looks good. My mmca 1st positions work like a revolving credit line in a way. Feel free to reach out to me if you want to know more and to submit that file and more.

    Scott Platto
    scott@tmrnow.com
    tmrnow.com
    212-220-9872

  5. #5
    Senior Member Reputation points: 99
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    Quote Originally Posted by Zonefund View Post
    Who would be the best lender for a 1st pos trucking deal, with 7 trucks, strong balances, averaging 110k a month in a good state for mca?

    Ty
    We can do this.

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