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  1. #1

    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.

  2. #2
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    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

  3. #3
    Quote Originally Posted by bdshaw View Post
    you should consider factoring as a possibility for your client.
    Terms are favorable for that space.
    Bob Shaw
    734.929.380
    Do you offer factoring Bob?

  4. #4
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    Factoring

    Quote Originally Posted by love2fish View Post
    Do you offer factoring Bob?
    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

  5. #5
    Quote Originally Posted by love2fish View Post
    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.
    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

  6. #6
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    Quote Originally Posted by love2fish View Post
    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.
    Loan me is too expensive and you would probably make more with us than with them

  7. #7
    Quote Originally Posted by bdshaw View Post
    Loan me is too expensive and you would probably make more with us than with them
    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

  8. #8
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    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

  9. #9
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    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

  10. #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/

  11. #11
    Senior Member Reputation points: 30475 Zach's Avatar
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    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

  12. #12
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    Quote Originally Posted by Zach View Post
    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.
    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%

  13. #13
    Quote Originally Posted by Michael I View Post
    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%
    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

  14. #14
    Senior Member Reputation points: 30475 Zach's Avatar
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    Quote Originally Posted by Michael I View Post
    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%
    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

  15. #15
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    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.

  16. #16
    Quote Originally Posted by love2fish View Post
    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.
    Feel free to reach out to me.
    Ben Terner
    VP of ISO Relations
    Direct: 248-341-9789
    Email: bterner@cooperasset.com
    Web: www.cooperasset.com


  17. #17
    Member Reputation points: 817 Jplummer's Avatar
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    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

  18. #18

  19. #19
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    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

  20. #20
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    Quote Originally Posted by Bank View Post
    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
    Are you a direct lender or broker?

  21. #21
    !!
    Last edited by DirectLenderWilliams; 04-12-2016 at 12:59 PM.

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