[CherylSuperior]

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.

[@jeannette]

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.

[CherylSuperior]

Thanks Jeannette, sent it to you guys already..got decline.

[ElisaMVF]

so, are you now trying to consolidate the 3 and get cash out?

[WhoisKingsley]

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?

[WhoisKingsley]

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

[GMFunding]

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?

[CherylSuperior]

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.

[Funder Mark]

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?