Results 1 to 16 of 16
-
02-22-2024, 10:00 AM #1
- Join Date
- Nov 2015
- Posts
- 64
Trucking 100k 1st pos, looking for direct
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?
-
02-22-2024, 11:07 AM #2
- Join Date
- Nov 2019
- Posts
- 685
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
-
02-22-2024, 11:41 AM #3
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,976
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
-
02-22-2024, 03:37 PM #4
- Join Date
- Aug 2016
- Posts
- 275
no one else does trucking over 10months? whats the max term?
-
02-22-2024, 04:26 PM #5
- Join Date
- Dec 2021
- Posts
- 215
-
02-22-2024, 04:50 PM #6
- Join Date
- Apr 2020
- Posts
- 127
-
02-22-2024, 06:01 PM #7
- Join Date
- Dec 2023
- Posts
- 48
-
02-22-2024, 06:05 PM #8
- Join Date
- Dec 2023
- Posts
- 48
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.
-
02-22-2024, 08:22 PM #9
- Join Date
- Oct 2022
- Posts
- 291
I can do this. Is it a strong file?
Elon Henek
HCI - Glen Cove, NY
Main: 1-516-676-1854
Cell: 1-516-236-4086
-
02-22-2024, 08:26 PM #10
- Join Date
- Oct 2022
- Posts
- 291
I have an SBA lender, Revenue Based Lending, and/or Equipment place for this. Wherever it may warrant going.
Elon Henek
HCI - Glen Cove, NY
Main: 1-516-676-1854
Cell: 1-516-236-4086
-
02-23-2024, 09:21 AM #11
-
02-23-2024, 10:13 AM #12
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_LA2x0mgSteve 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.
-
02-23-2024, 01:43 PM #13
- Join Date
- Dec 2023
- Posts
- 48
-
02-23-2024, 01:48 PM #14
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.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.
-
02-23-2024, 01:54 PM #15
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.
-
02-23-2024, 01:54 PM #16
- Join Date
- Dec 2023
- Posts
- 48
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.
Similar Threads
-
Who does 1st position trucking. 1 year term, 100k
By showtime44 in forum Merchant Cash AdvanceReplies: 19Last Post: 05-09-2023, 04:40 PM -
who does trucking over 100k monthly
By michaelh in forum Deal BinReplies: 13Last Post: 04-03-2023, 06:07 PM -
Trucking company - 4 Trucks - 100k a month
By MOC Funding in forum Deal BinReplies: 5Last Post: 03-09-2023, 11:32 AM -
Trucking 100k Revenue monthly
By jgcap in forum Merchant Cash AdvanceReplies: 6Last Post: 07-14-2022, 01:53 PM -
100k trucking in personal bankruptcy
By Friendly funder in forum Deal BinReplies: 7Last Post: 07-14-2021, 01:42 PM