Utica Equipment Finance
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  1. #1

    Utica Equipment Finance

    Has anyone ever done a deal with Utica? Was referred to them by Slim due to deal size. They dont have an iso agreement and was told they would write us in the contract.

  2. #2
    Senior Member Reputation points: 9057 NickHubbard's Avatar
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    Quote Originally Posted by aaron4235 View Post
    Has anyone ever done a deal with Utica? Was referred to them by Slim due to deal size. They dont have an iso agreement and was told they would write us in the contract.
    Utica is legit. They are just expensive!
    Nick Hubbard
    Managing Partner
    314-252-0299 - Office
    314-885-2262 - Direct
    nick@nathancapgroup.com
    www.nathancapgroup.com

  3. #3
    Senior Member Reputation points: 111969 Olderguy's Avatar
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    Tony can do multi million dollar deals....try him.

    Tony Borchello
    Director of Commercial Lending
    Tony@financeitforward.com
    888-211-2192 Ext:700
    949-424-7277
    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.

  4. #4
    Quote Originally Posted by Olderguy View Post
    Tony can do multi million dollar deals....try him.

    Tony Borchello
    Director of Commercial Lending
    Tony@financeitforward.com
    888-211-2192 Ext:700
    949-424-7277
    How much is Tony paying you for all these ads?

    I dont use super brokers. I build relationships with the companies myself. Its not hard to send a message on linkedin or give someone a call. I prefer to keep my commissions rather than share them. I have a 4 million $ file here i dont mind doing some paperwork lol

  5. #5
    Senior Member Reputation points: 111969 Olderguy's Avatar
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    Quote Originally Posted by aaron4235 View Post
    How much is Tony paying you for all these ads?

    I dont use super brokers. I build relationships with the companies myself. Its not hard to send a message on linkedin or give someone a call. I prefer to keep my commissions rather than share them. I have a 4 million $ file here i dont mind doing some paperwork lol
    He is a direct lender and also has relationships with banks and off balance sheet funds.

    You are misunderstanding the lending process. You don't have the experience level to see the bigger picture in lending.

    Right now I have about 12 deals with him.
    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.

  6. #6
    Quote Originally Posted by Olderguy View Post
    He is a direct lender and also has relationships with banks and off balance sheet funds.

    You are misunderstanding the lending process. You don't have the experience level to see the bigger picture in lending.

    Right now I have about 12 deals with him.
    This just isn't what im asking.

  7. #7
    Senior Member Reputation points: 111969 Olderguy's Avatar
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    Quote Originally Posted by aaron4235 View Post
    This just isn't what im asking.
    What you are asking isn't relevant because your experience is just with MCA and working capital lenders.

    What I am alluding to is higher level financial operations that you just don't have exposure to.
    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.

  8. #8
    Quote Originally Posted by Olderguy View Post
    What you are asking isn't relevant because your experience is just with MCA and working capital lenders.

    What I am alluding to is higher level financial operations that you just don't have exposure to.
    Thats a crazy statement. I have plenty of exposure to other products and sell them every day... I also have an MBA. I was asking about peoples experience using Utica as they don't have an iso agreement and say they will write you into the contract with the merchant.

  9. #9
    Senior Member Reputation points: 111969 Olderguy's Avatar
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    Quote Originally Posted by aaron4235 View Post
    Thats a crazy statement. I have plenty of exposure to other products and sell them every day... I also have an MBA. I was asking about peoples experience using Utica as they don't have an iso agreement and say they will write you into the contract with the merchant.
    You don't understand and don't have the experience.

    So why not just make a phone call, ask questions and see if you can learn anything and then you can make an informed decision.
    Last edited by Olderguy; 01-29-2025 at 01:17 AM.
    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.

  10. #10
    Quote Originally Posted by Olderguy View Post
    You don't understand and don't have the experience.

    So why not just make a phone call, ask questions and see if you can learn anything and then you can make an informed decision.
    Does Tony ride on the front or the back of your motorcycle?

  11. #11
    Senior Member Reputation points: 111969 Olderguy's Avatar
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    Quote Originally Posted by cannolimca View Post
    Does Tony ride on the front or the back of your motorcycle?
    Actually he lives in Costa Mesa - 20 minutes away and my motorcycle doesn't carry passengers.
    Last edited by Olderguy; 01-29-2025 at 01:57 PM.
    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.

  12. #12
    Quote Originally Posted by Olderguy View Post
    Actually he lives in Costa Mesa - 20 minutes away and my motorcyicle doesn't carry passengers.
    So he rides you without the motorcycle. Noted.

  13. #13
    Senior Member Reputation points: 111969 Olderguy's Avatar
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    Quote Originally Posted by cannolimca View Post
    So he rides you without the motorcycle. Noted.
    He doesn't drink either.
    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.

  14. #14
    Quote Originally Posted by Olderguy View Post
    He doesn't drink either.
    Just dinner, no drinks?

  15. #15
    Senior Member Reputation points: 96449
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    Quote Originally Posted by aaron4235 View Post
    Thats a crazy statement. I have plenty of exposure to other products and sell them every day... I also have an MBA. I was asking about peoples experience using Utica as they don't have an iso agreement and say they will write you into the contract with the merchant.
    That generally tells you that they don't have or support a broker network.
    I have 2 Banks that I write specific deals with - and they include my piece of the pie in closings.

    No paperwork - except a 1099 at the end of the year -
    It is a matter of trust -
    Dave Lambert, Business Development
    Managed Services Provider
    https://www.tsys.com
    https://www.united-internet.com
    https://www.nmi.com
    dave@fcbankcard.com
    Office: 727-233-1111
    Skype: fc-financial

  16. #16
    I have dealt with Utica going back to 2011. Even used them in an acquisition about 10 years ago. David and his team are all pretty solid. The one word of caution is to make sure that your fees are included from the start and written into the term sheet from the start.

  17. #17
    Senior Member Reputation points: 209731
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    Utica is legit for higher risk equipment financing. They are just insanely expensive and that exit fee when the deal is paid off is insane as well but they get the job done if no one else can.

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