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08-12-2024, 03:56 PM #1
Options for truckers
Two options you should be looking into:
1. I have a SBA lender who is wiling to do truckers.
2. I am doing a LOT of Master Credit Lines for truckers.
Right now, for one broker, doing 2 $500,000 and 1 $1M Master Credit Line.
Guys - it's commissions for life.
Here's one exampe:
Master Lease Agreement
$1,000,000 (Funds in Separate Schedules)
Forty eight (48) months
lease rate factor .030918
$30,918 Plus applicable taxes – payable Monthly in advance by ACH.
Payment subject to Final Lease Amount Cost.
Lessor’s standard documentation will be provided to Lessee for review and acceptance. Lessee to assist Lessor in obtaining any
necessary documentation between Lessor and any third party related to Lessee, location, or Equipment.
At the end of the Base Term, Lessee shall have the option to (i) Purchase the Property for a $1 or to be determined at Fair
Market Value when mutually accepted by Lessor and Lessee. (ii) Extend the Lease; or (iii) Return all of the equipment to Lessor.
Lessee will be responsible for all taxes, insurance, maintenance, and other costs associated with the Equipment as well as lien
searches and filings, appraisals (when necessary) and any expenses related to the Agreement.
Lessee will provide an underwriting deposit of $10,000 (“Deposit”) against which all expenses will be charged in connection
with the proposed transaction. $1,250 of the Deposit will be a nonrefundable fee. The balance will be treated as a deposit
against underwriting expenses including but not limited to, UCC lien searches and filings, appraisal report, inspection, and legal
expenses. Should the loan initiation falter by no fault of the Borrower, the security deposit, minus administrative and credit
review fees, shall be reimbursed to the Borrower. Furthermore, if the Borrower withdraws before funding or fails to complete
essential loan documents for any loan schedule(s), the Lender reserves the right to withhold the security deposit as liquidated
damages.
Issuance of this Proposal is with the understanding neither it nor its substance shall be disclosed to any third party.
Lessee may need to provide to Lessor an advance payment equal to First and/or Last month's payment if required upon
commencement for each funding schedule.
The Lease Rate Factor shall be adjusted upward by .00008998 for every five (5) basis point increase in equally maturing U.S.
Treasury Notes, until all items of the Leased Equipment have been installed and accepted by Lessee. The 60 Month base
Treasury Note Yield to be used for comparison purposes shall be 2.90%.
Lessee authorizes Lessor to file UCC-1 financing statements as deemed necessary by Lessor by execution of this proposal. Lien
will be for the equipment financed under this request only.
Although this Proposal is not intended as a financing commitment, it does represent mutually accepted terms and conditions
upon which Lessee requests Lendert to apply its commercially accepted best efforts. Neither Lessee nor any other
person should rely upon it in taking or forbearing from taking any action or advancing any credit.
This Proposal supersedes any prior written or verbal understandings or agreements. Mutually accepted and fully executed
Documentation shall supersede this Proposal.
1.00% of the funded amount to be paid at closing.
The Equipment Cost may be funded incrementally to vendor(s) over an extended period on separate schedule(s).
This Proposal shall expire fourteen (14) days after the date contained herewith, Unless prior thereto accepted.
Reach out for questions....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.
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08-13-2024, 02:07 PM #2
Have a trucker friend told he met a fellow trucker who met a "girl" in the parking lot and answered a call and got a cash advance the same day. Never paid it back lol
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