[ESE5020]

Whats up everyone,

My team is currently handling over 25 fresh applications daily. Compared to the past few years, we're seeing some significant changes in the industry.

It's almost impossible to get funding for first-time applicants unless their files are spotless.
Funding for trucking is nearly nonexistent, construction financing is very limited, there are more restrictions based on state locations, many default files, and trust issues with backdoor dealings are on the rise.

Just last year, about half of these applications would have received offers.

What's your perspective on the current state of the industry and the direction it's heading?

We have also discontinued funding in certain states; however, in the states that we do fund (which is still most), we continue to provide funding for trucking and construction. While we cannot predict whether our offers will meet the specific needs of your clients without evaluating each case individually, we do offer funding for trucking businesses with as few as one truck in the fleet and for construction businesses with as little as one deposit per month. Our funding decisions are based exclusively on revenue and verifiable recurring receivables, and we do not conduct credit or background checks

[SKITTLES]

We have also discontinued funding in certain states; however, in the states that we do fund (which is still most), we continue to provide funding for trucking and construction. While we cannot predict whether our offers will meet the specific needs of your clients without evaluating each case individually, we do offer funding for trucking businesses with as few as one truck in the fleet and for construction businesses with as little as one deposit per month. Our funding decisions are based exclusively on revenue and verifiable recurring receivables, and we do not conduct credit or background checks

Can you say which states you DON'T fund?

Thanks

[ESE5020]

Can you say which states you DON'T fund?

Thanks

California, Connecticut, Utah, New York, and Virginia.

[Robinhood21]

California, Connecticut, Utah, New York, and Virginia.

What are your guys reasoning?
Because of state regulations ?

[Seth Davis]

Trucking is pretty bad but its been that way the last couple of years its just now worse than before, top lenders keep increasing their credit facilities though. So I guess they are either asleep at the wheel or project to 'buy' the dip by being active for big qualified deals that banks are now shying away from more than before because its pretty bleak