[McoupeBobby]

Trucking with Aamzon acct, 10 trucks in fleet, 120k+ monthly, no nsf's/od's, 10+ years in business, Credit over 680.
Looking for 100k @ 10 months or longer.
Can anyone suggest a direct lender that can do something like this?

[closer129]

Trucking with Aamzon acct, 10 trucks in fleet, 120k+ monthly, no nsf's/od's, 10+ years in business, Credit over 680.
Looking for 100k @ 10 months or longer.
Can anyone suggest a direct lender that can do something like this?

I know you are looking for 10 months plus and if the files meets our guidelines we will go to 7-9 months for trucking. But if the merchant will need more money within the next 3-4 months our renewals work like a line of credit in a way. We do not refinance the old balance like everyone else does. We add the new balance to the back of the old and extend the term out longer and the merchant only pays for the new money and the payment stays the same. If this is something that could work ofr this merchant or other ones feel free to reach out to me.


Scott Platto
scott@tmrnow.com
tmrnow.com
212-220-9872

[Yankeeman07]

Trucking with Aamzon acct, 10 trucks in fleet, 120k+ monthly, no nsf's/od's, 10+ years in business, Credit over 680.
Looking for 100k @ 10 months or longer.
Can anyone suggest a direct lender that can do something like this?

SBA Bolt Program

[moneygreen]

no one else does trucking over 10months? whats the max term?

[goldenhippo80]

no one else does trucking over 10months? whats the max term?

You must be out of touch in this industry if you think you're going to get long term lengths on trucking

[brandon_]

SBA Bolt Program

NAICS codes starting with 48 & 49 (Transportation & Warehousing)
NAICS code 541810 (Advertising Agencies)
NAICS code 541613 (Marketing Consulting Services)
NAICS codes starting with 72 (Accommodation & Food Services)

All restricted industries for Bolt.

[Incbiz440]

SBA Bolt Program

BayFirst backed off transportation through their other SBA programs so I assume this applies to Bolt as well.


Edit: Missed brandon's excellent response.

[Incbiz440]

Trucking with Aamzon acct, 10 trucks in fleet, 120k+ monthly, no nsf's/od's, 10+ years in business, Credit over 680.
Looking for 100k @ 10 months or longer.
Can anyone suggest a direct lender that can do something like this?

You might catch a CDFI that does SBA Micro*/Community Advantage/ straight 7a/ or a non-SBA but similar program that will take a look at that. You will likely have to charge your client directly for your services, though. May be able to get a 5, 7, or even 10 year term out of it.

*Yes, SBA micro is limited to $50k, but microlenders can stack programs if they wish.

[Ehenek]

I can do this. Is it a strong file?

[Ehenek]

I have an SBA lender, Revenue Based Lending, and/or Equipment place for this. Wherever it may warrant going.

[brandon_]

BayFirst backed off transportation through their other SBA programs so I assume this applies to Bolt as well.


Edit: Missed brandon's excellent response.

[Olderguy]

Reach out:

Yeah....many SBA lenders cutting back on trucking, requiring 1 to 1 collateral therabouts.

Melanie.kearney@creditbench.com can assist you

Christopher Hackney​
SVP, Director of SBA Loan Originations
Office: (727) 399‑5662
Mobile: (404) 786‑5485
700 Central Ave
St. Petersburg, FL
33701
christopher@creditbench.com


https://share.hsforms.com/1y9dOJpRrTxmpiFlMCQw_LA2x0mg

[Incbiz440]

Reach out:

Yeah....many SBA lenders cutting back on trucking, requiring 1 to 1 collateral therabouts.

Melanie.kearney@creditbench.com can assist you

Christopher Hackney​
SVP, Director of SBA Loan Originations
Office: (727) 399‑5662
Mobile: (404) 786‑5485
700 Central Ave
St. Petersburg, FL
33701
christopher@creditbench.com


https://share.hsforms.com/1y9dOJpRrTxmpiFlMCQw_LA2x0mg

How is CreditBench going to help in this situation if they stopped doing trucking?

[Olderguy]

How is CreditBench going to help in this situation if they stopped doing trucking?

Contact them and confirm...these guys change their guidelines all the time. A lot of the SBA lenders just changed their collateral coverage guidelines for truckers.

I have some SBA going back and forth....declining and going back and doing a review.

Cadence Bank will do trucking not necessarily looking at MCA debt load. But that's from the VP and he claims the will only do $750K and above and he's impossible to reach.

Cadence can also be reached through SmartBiz but you have to ask and SmartBiz may say no trucking when directly I know they will.

[fundinggrasshopper]

Credibly would consider something like this. many b paper lenders would as well who go out 10 months such as Legend, efinancial, or Flash.

under the assumption the majority of receivables are coming directly from amazon servicing.

[Incbiz440]

If it helps my last conversation with one of their underwriters last week was that CreditBench is a solid no on trucking right now.

Smartbiz said they're still able to work with trucking right now but for their line option specifically the bar was high. Didn't ask specifically about SBA term options but as a blanket they said yes, still taking trucking apps. Also a recent conversation.