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10-22-2023, 12:05 AM #1
I have more than one but you need to have experience packaging and submitting SBA loans and most people don't. That's why I'm a bit hesitant to offer this right now. They need to collateralize the loan and that is always an issue with truckers. Have to look at their balance sheet and asset list. And trucks that are free and clear might need to have their title turned into the lender. If the trucks get sold within the 10 years of the loan, all that money goes to the lender. It's more than just collecting documents and turning in to the lender. And if you repackage the loan and resubmit it to the credit commited with a request to delete some of the vehicles from the collateral list, you have to justify it...and it happens...you sometimes have to show the lender the way.
It's more than just sharing a contact if you understand what I mean.Last edited by Olderguy; 10-22-2023 at 06:34 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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