Merchant has equipment/collateral. Who do you recommend?

**Quickfunder** · 07-17-2013, 12:12 PM

Merchant has equipment that almost doubles their requested amount. Sales look good. Who in the MCA industry would you recommend?

**Sean Cash** · 07-17-2013, 12:14 PM

equipment is usually valued at its liquidation price when used as collateral. What kind of equipment are you talking about?

**Quickfunder** · 07-17-2013, 12:49 PM

Landscaping equipment (merchant is not a landscaper) but equipment is related to the business.

There is a truck, a hopper, a couple trailers, a cart and some other items I believe.

= $140,000 or more.

**Chambo** · 07-17-2013, 02:31 PM

Truck depreciates too much, might get HALF of Blue Book value. Anything else would depend on usage and condition.

But as a parameter, except for those kooks at World Business Lenders, anything with wheels is a NO GO

**Quickfunder** · 07-17-2013, 05:28 PM

The truck is almost worth the least actually.

The other equipment is all standard landscaping, despite wheels. Mostly backyard equipment. Other than WBL, do you know anyone?

**kbhasin** · 08-13-2013, 11:16 AM

I work for WBL and I am not sure what you guys mean by "anything with wheels is a NO GO" we lien vehicles on a large percentage of our loans. As for the equipment, I would need additional information on it to be able to give you an answer. I do not think there is anyone else in the MCA space that cares about any of the assets you just mentioned.

**vmccapital.com** · 08-19-2013, 11:15 AM

what company is WBL please ?

**vmccapital.com** · 08-19-2013, 11:17 AM

Kbhasin, please shoot me an email with your company info at
eddie.deangelis@vmccapital.com looking to build our network of funders and we are launching a huge ppc campaign in the next month among other forms of lead generating.

**Sean Cash** · 08-19-2013, 11:50 AM

Originally Posted by vmccapital.com

what company is WBL please ?

World Business Lenders???

**BusinessLendingMadeSimple** · 08-20-2013, 09:56 AM

KB -Please send me some info on what you do.
klamere@acafundingusa.com

Thanks!

**Ryan Shiroky** · 11-05-2013, 05:36 PM

Originally Posted by sean bash

World Business Lenders???

lol like, "duhhhh"...

Hey there KBhasin... WELCOME, to the DailyFunder!!!

{How much of my advice goes unaccredited...??? uggghhhh.... tisk tisk tisk...}

**Lendinero** · 11-10-2013, 03:17 PM

SFS does ABL. I just recently signed up with them. http://www.sfscapital.com/

**Christina** · 11-10-2013, 03:18 PM

WBL is the best company for collateral loans the merchants get money in as little at 2 business days

**markcrane** · 11-10-2013, 04:24 PM

WBL has a solid asset based lending program, but lets be realistic...they won't fund you in two days. They apply a discounted credit for assets based on type. Vehicles are valued at 50% kbb, and real property is 65% of appraised value. Now if you have equity in real property its 65% of appraised value, minus equity you have in it, and they will give credit of that amount.

**markcrane** · 11-10-2013, 04:28 PM

They are also very aggressive in their lending. If the cashflow and substantial average balances are there with assets they will cap at 130% of what you are doing in monthly deposits.

**Christina** · 11-10-2013, 05:28 PM

I have worked with WBL if you provide all the necessary information they can fund you 2 to 3 business days they mostly like that deals the merchant owns property

**markcrane** · 11-10-2013, 05:45 PM

I know the company very well. The only way you are going to get 2-3 day turn around financing is if they are liening vehicles and it isn't a sizeable request. (Under 30k) Or if the deal is done naked. Real property takes MINIMUM 7-10 days...backtitle, title insurance etc ect. Their credit risk team has tightened alot, as well as the application process now requires a little more than 12 months statements and an app. However, they are doing up to 100k unsecured now...if you have excellent cashflow, credit and low voilatility of deposits.

**Christina** · 11-10-2013, 06:12 PM

I just did a deal with them I only had to provide for 4 to 6 months bank statements

**markcrane** · 11-10-2013, 06:14 PM

Your deal was sydicated through them or you have the wrong company. I just left WBL and was one of the senior guys over there.

**Christina** · 11-10-2013, 06:38 PM

I have the right company, you from ny

**markcrane** · 11-10-2013, 06:57 PM

Yes....Although if they started doing 6 months statements very recent, thats a good thing. Operation-wise it definitely speeds up the process. Glad you had a good experience with WBL. They absolutely love being over collateralized on their deals. I've seen 4:1 So if you know someone with significant assets to pledge, most deals can be a slam dunk.

**Christina** · 11-10-2013, 07:08 PM

Yes our company works with Chris from there

**markcrane** · 11-10-2013, 07:09 PM

Chris is a good guy.

**Christina** · 11-10-2013, 07:13 PM

Yea he is and he gets the job done

**skideeppow** · 11-11-2013, 12:18 PM

Originally Posted by markcrane

WBL has a solid asset based lending program, but lets be realistic...they won't fund you in two days. They apply a discounted credit for assets based on type. Vehicles are valued at 50% kbb, and real property is 65% of appraised value. Now if you have equity in real property its 65% of appraised value, minus equity you have in it, and they will give credit of that amount.

How can i reach these guys, wbl? contact info would be great.

Thanks

Thread Tools

Display