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01-14-2015, 04:48 PM #1
Trucking Co
Have a trucking company with 3 small advances, one of which has a UCC-1. Got a very large 6 figure approval and ready to fund by another funder, but they want UCC-1 release form before they will fund merchant. In order to get release, merchant has to pay off the funder who has the lien. He does not have $$$ to pay that off prior to getting funded. The only way to get release is to pay it off. I need to find a deal for this client that will not require him to have lien released before he gets funded.
No shade Chris, but he has no collateral to put up for a deal with your group.Cheryl Tibbs
Superior Capital
ISO Account Manager
Direct: 678-435-9743
Fax: 817-665-3819
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01-14-2015, 04:54 PM #2
Retail Capital will fund a trucking company and they will pay off up to 4 advances as long as the merchant nets 50%. As long as the merchant is not in default with the company that he has a UCC from I don't see an issue.
Jeannette Nearing | Business Development Officer| AmeriFactors
| M (770) 362-2307
jnearing@amerifactors.com |
http://www.amerifactors.com
https://www.linkedin.com/in/jeannettenearing
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01-14-2015, 05:01 PM #3
Thanks Jeannette, sent it to you guys already..got decline.
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01-14-2015, 06:34 PM #4
- Join Date
- Dec 2014
- Location
- Long Beach, California, United States
- Posts
- 26
so, are you now trying to consolidate the 3 and get cash out?
Mullti Vision Financial
Elisa Blackmon
Financial Capital Advisor
D: 562-513-1963 E: Elisa@MVFLoans.com
F: 562-590-9393 F2: 858-810-0288
Office: 888-598-9951
MVFLoans A+ BBB Rating
**ask about our referral program**
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01-14-2015, 09:47 PM #5
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
Trucking Co
State? Annual Rev? Time in Biz? What type of trucking/transports what? Home based? How many employees/trucks (whether owned by company or not) does he have?
Amanda Kingsley
DailyFunder: WhoisKingsley
This is me. https://www.facebook.com/whoiskingsley
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Always Live and Lead with Integrity.
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01-14-2015, 09:49 PM #6
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
Trucking Co
I ask these questions because I do consols but with nothing solid like long lasting contracts w/ the company(s) they work w/, operations can stop tomorrow and something needs to be secured
Amanda Kingsley
DailyFunder: WhoisKingsley
This is me. https://www.facebook.com/whoiskingsley
I am Here too. https://www.facebook.com/groups/TheClosersGroup
Always Live and Lead with Integrity.
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01-15-2015, 09:55 AM #7
- Join Date
- Dec 2013
- Location
- Connecticut
- Posts
- 332
It sounds like you essentially need a bridge product, You have several options that won't require the UCC being removed prior. Where are they located? Is it home based?
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01-15-2015, 10:05 AM #8
Trucking Co
Company is not home based, they are doing about $5m a year and in biz for over 5 yrs. approval we have is for $125k. They owe about $25k on the 3 current advances.
Cheryl Tibbs
Superior Capital
ISO Account Manager
Direct: 678-435-9743
Fax: 817-665-3819
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01-15-2015, 10:35 AM #9
Sounds like the main thing is to clear up the UCC-1. Wouldn't an option be to cover that advance, have the UCC cleared, and then go get the consolidation?
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