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10-09-2023, 03:09 PM #1Member
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ABL / Secured funding suggestions
Looking for suggestions on ABL lenders.
- Looking to get a secured loan based upon 16 trucks owned free and clear
- Open to both Bank and Non Bank lenders
- Preference would be no personal guarantee
- preference would be no financials needed (other than that of the equipment), if this is NOT a option that's ok, I've never done an ABL / secured loan based off of equipment that is owned free and clear, so please excuse any ignorance
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10-09-2023, 03:23 PM #2Senior Member
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Estimated Value of trucks? Total?
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10-09-2023, 03:26 PM #3Senior Member
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Tony can do it at Forward Financial but would require banks and PG.
He can fund it in a week.
Need title, pictures, loan app, bank statements and condition report.
Tony Borchello
First Financial
(888) 211-2197*
mobile: (949) 800-5767
tony@financeitforward.com
Elon and I have a ABL lender that might also do it.
Reach out if you want and I can help if necessary.Last edited by Olderguy; 10-09-2023 at 03:30 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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10-09-2023, 03:43 PM #4Member
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500k
Originally Posted by Steven_O
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10-09-2023, 03:48 PM #5Senior Member
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And ABL would require Trucks + AR. Originally Posted by JVD6905
500k means the trucks are really old.
They're going to need to PG this and provide financials. (Steve - No financials max out at 150k with Tony.)
Most ABL lenders have a minimum, and they'd need the AR as well.
Who's doing the factoring now?
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10-10-2023, 10:39 AM #6Senior Member
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I have an outlet for over $1MM+ loans in M/E only. No financials, or PG "absolutely" required. Would need to pay DD and appraisal fee. Originally Posted by JVD6905
But, no outlet for $500k.
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10-10-2023, 04:24 PM #7Noob
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What do you need capital for? Equipment? Cannabis is a tough industry but doable if TIB and financials look good. Originally Posted by JVD6905
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10-23-2023, 12:58 PM #8Member
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Contact me I'm interested, we're direct funders. 917-291-0586 or send the submission to Jay@pinnacleadvances.com
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