Results 1 to 21 of 21
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07-19-2015, 12:34 PM #1
- Join Date
- Dec 2014
- Posts
- 6
Looking for a direct lender who works with ISO's for trucking industry
I'm not looking to co-broker, we've been getting a lot of truckers both owner-operators and fleets, good and bad credit clients. If you're a direct lender can you please send me your contact info.
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07-19-2015, 01:29 PM #2
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Looking for a direct lender who works with ISO's for trucking industry
you should consider factoring as a possibility for your client.
Terms are favorable for that space.
Bob Shaw
734.929.380
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07-22-2015, 12:02 AM #3
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- Dec 2014
- Posts
- 6
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07-23-2015, 09:28 AM #4
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Factoring
Yes I do and I would like to talk to you about it to see what I think is probably a fit.
734-929-3800
rshaw@advancecredit.com
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07-23-2015, 06:31 PM #5
- Join Date
- Nov 2014
- Posts
- 438
LoanMe is a Direct Lender of unsecured business loans. We often work with our partners trucker clients, providing they have a business bank account. In fact, we will take a look at all for-profit business types and have no restricted/prohibited SIC codes.
We also do not look a the number of deposits into the bank account, but rather look at the gross deposits on the business bank statement and can offer up to 2x, up to $100k.
Please contact us for more information to see if we can help your client.Last edited by LoanMe; 07-23-2015 at 06:36 PM.
LoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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07-27-2015, 03:18 PM #6
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
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07-27-2015, 04:17 PM #7
- Join Date
- Nov 2014
- Posts
- 438
Bob- Like all products there will be times that one is more expensive than the other depending on the specific need/situation. Same goes for commissions based on the $ amount of the loan. You have seen this first hand on the last few submissions with us.
The benefit of the LoanMe product is one of the lowest and most affordable Monthly payments in alternative lending. Additionally we offer quick funding (ability to fund the same day) and the flexibly of allowing a borrower to pre-pay at anytime with no penalties. With daily accruing simple interest the borrower would pay interest for the number of days they borrow. If they pay off early the interest stops.
LoanMe is also a Direct Lender and does not send any declined or turn down files to any other lenders.LoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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07-27-2015, 05:56 PM #8
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Looking for a direct lender who works with ISO's for trucking industry
Im not arguing that Loanme has its place in the market which is why we refer certain loans to you.
However, many of the borrowers in this particular space can get much lower rates, can well afford the monthly payments and dont want to have any long term debt for an asset that depreciates so quickly.
To be totally upfront, we make money referring truck deals for financing.
Bob
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08-05-2015, 12:14 PM #9
- Join Date
- Aug 2015
- Location
- Boca Raton, FL
- Posts
- 47
We specialize in factoring, asset financing, A/R financing, MCA and Commercial Lending. Your client's business is eligible for funding as long as it possesses any one of the following: Cash Flow, Good Credit, Commercial Real Estate, Assets or Collateral, Receivables, Contracts, Retirement Accounts, Purchase Orders, Etc.
Sincerely,
Jay Rich
President/Senior Funding Advisor
Anthem Financial Group, Inc
Phone: (561) 510-0801
jay@anthemfinancialgroup.com
LinkedIn, connect with me: LinkedIn
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08-07-2015, 04:15 PM #10
Trucking and Transportation is one of our most frequently funded industries. Contact info below-
Kaitlyn Miller
ISO Coordinator
770-617-2377
KM@SuperiorCapitalfund.com
http://superiorcapitalfund.com/
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08-07-2015, 05:47 PM #11
In terms of the actual APR, LoanMe is one of the least expensive products in our space. It just looks brutal because most people don't disclose APR to their merchants.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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08-07-2015, 05:58 PM #12
- Join Date
- Jun 2015
- Posts
- 3,326
Not really their rates can go as high as 149 percent ( I believe the lowest is 24 and a 5 percent origination fee )
Monthly is a big plus
But compare to a 1.3 factor for 12 months it is more expensive.
Now I do get that a 1.3 is not 30% apr as merchant is making daily payments but it is a lot less then 149%
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08-07-2015, 06:42 PM #13
- Join Date
- Nov 2014
- Posts
- 438
Michael- Comparing a 1.30 factor to our 149% rate, probably isn't the best example.
Lets compare a $10k 1.35 factor 6 month term to our 94% rate product (Term Loan C).
MCA Example
Amount: $10k
Factor: 1.35
Term: 6 months
Daily payment: $107= ~$2250 monthly responsibility
Payback: $13,500
LoanMe Unsecured Term Loan C (Daily accruing simple interest)
Amount: $10k
Rate: 94% per annum
Term: 120 months
Monthly Payment: $783.43
Payback: $93,960 (We suggest borrowers pay off early saving interest charges)
If the borrower pays the same monthly amount as the MCA example above, watch what happens to the Term and Payback amount.
Loan Amount: $10k
Rate: 94% per annum
Term: reduces to 6 months (based on $2250 monthly payments)
Monthly Payment: $2250 (using same monthly responsibility as the MCA example above)
Payback: $13,438.53 pretty close to the MCA example above.
Bottom line is the LoanMe product is more flexible with monthly payments, no pre-payment penalties and the ability to let the borrower choose to:
1.) Make minimum monthly payments and pay off early in one lump sum which stops accrued interest
or...
2.) Make larger monthly payments reducing the Term and Interest charged.Last edited by LoanMe; 08-07-2015 at 06:51 PM.
LoanMe Business
949-535-7798
Email: Business.Loans@LoanMe.com
www.loanme.com/SBL-partner
1900 S State College Blvd. Suite 300
Anaheim, CA 92806
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08-07-2015, 07:55 PM #14
You are correct with your example... and there are some examples where LoanMe is the best product available.
Quick breakdown:
1.3 for 12 months is around 54% APR. LoanMe could beat that, but it would have to be a solid approval for them (obviously the client isn't a bad borrower if he qualifies for 1.3 for 12).
...But let's say you have an approval at 1.4 for 6 months (150% APR), and LoanMe approves the same deal. In this case, LoanMe would be a better solution for the client.
Try them out sometime! They fund fast (no joke, just a few hours) and fund deals that are difficult to place elsewhere.Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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08-08-2015, 09:24 PM #15
- Join Date
- Jun 2015
- Posts
- 3,326
Sorry if I wasn't clear . I love loan me and do a lot of business with them . I was just pointing out that not always does monthly mean cheaper . Their are times that their rates or flexibility is best for your client .however that is not always the case as kristof pointed out their c program is comparable to a 6 month 1.35 in terms of apr.
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03-05-2016, 01:40 PM #16
- Join Date
- Feb 2016
- Posts
- 55
Ben Terner
VP of ISO Relations
Direct: 248-341-9789
Email: bterner@cooperasset.com
Web: www.cooperasset.com
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03-15-2016, 02:12 PM #17
We are a direct funding source that is 95% transportation. If the customer has credit over 600, good reserves $10,000 average balance, and 3 years CDL experience we may be able to help out. Our rates are usually better than most b-c space funding sources. Just need to get setup with us first. Give me a call 317-845-8768 or email me jplummer@qualityleasingco.com. I can cover the specifics and any questions.
Jim Plummer
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03-15-2016, 02:50 PM #18
- Join Date
- Jan 2016
- Location
- New York
- Posts
- 2
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04-02-2016, 02:53 AM #19
- Join Date
- Dec 2014
- Posts
- 114
Trucking companies are my personal favorite. I have plenty of clients who will vouch for me.
Robert Menzel
516-299-8240
631-235-3423
Rmenzel@bizbrella.com
Bizbrella.com
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04-02-2016, 04:45 PM #20
- Join Date
- Jul 2014
- Posts
- 1,746
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04-12-2016, 12:05 PM #21
- Join Date
- Apr 2016
- Posts
- 3
!!
Last edited by DirectLenderWilliams; 04-12-2016 at 12:59 PM.
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