Results 1 to 5 of 5
-
02-12-2024, 04:15 PM #1
- Join Date
- Dec 2023
- Posts
- 66
Trucking company looking for working capital
Looking for suggestions-
Trucking company looking for around 60k working cap for staffing. North of two million per year revenue and runs ten trucks. Has a first position ABA UCC (factoring). Has a free and clear trailer (client estimated value, 15k or so) they're willing to toss in as collateral. Credit in upper 600s, TIB 9 years.
Would highly prefer term loan but willing to look at all options.
Thanks in advance.
-
02-12-2024, 04:25 PM #2
- Join Date
- Nov 2019
- Posts
- 691
If the daily balances are there this sounds like a file i can get done. If he does not have any mca's open now or after we fund then our renewals work kind of like a line of credit where we just add the new balance to the bck of the old and exnted the term out longer. feel free to reach out to me to find out more.
Scott Platto
scott@tmrnow.com
tmrnow.com
212-220-9872
-
02-13-2024, 06:28 AM #3
- Join Date
- Oct 2022
- Posts
- 295
I would most likely look to remove the factoring facility and anything encumbering the rights to the AR first. Then I would see if they cashflow from an EBIDA standpoint, then focus on the assets (Equipment and AR) based on what you stated, and potentially look at Secured Financing aka ABL. Think of this debt facility as a line of credit on steroids.
Elon Henek
HCI - Glen Cove, NY
Main: 1-516-676-1854
Cell: 1-516-236-4086
-
02-29-2024, 04:55 PM #4
- Join Date
- Apr 2021
- Posts
- 121
Looks like a deal for Family Funding !!
subs@familyfundinggroup.com
-
03-01-2024, 02:39 PM #5
- Join Date
- Feb 2024
- Posts
- 8
Similar Threads
-
50k working capital-trucking industry
By FTFunds in forum Deal BinReplies: 3Last Post: 05-22-2023, 12:52 PM -
Real Estate company seeking working capital
By CapitalCityfunds in forum Deal BinReplies: 4Last Post: 02-22-2023, 12:01 PM -
Trucking Client Seeking $40-45k working capital Against a $65k New Truck Clean Title
By G2efunding.com in forum Deal BinReplies: 4Last Post: 07-15-2021, 04:24 PM -
Oilfield Service Company working capital
By codyvs6 in forum Deal BinReplies: 1Last Post: 06-29-2016, 09:37 PM -
Innovative Travel Company Needs Working Capital
By glamping&cycling in forum Business LoansReplies: 6Last Post: 06-03-2015, 12:36 PM