[champfund]

what other lenders out there do collateral deals including vehicles and equipment?

[anonymous]

Plegecap, but it is glorified pawn shop. They hold assets in their facility, charge interest only payments, and return the collateral once they've paid back the amount borrowed.

[KTK]

I don't think you are receiving accurate info. WBL is definitely still lending against vehicles. I know they shy away from utilizing equipment however.

[rick_clsfunding]

I don't think you are receiving accurate info. WBL is definitely still lending against vehicles. I know they shy away from utilizing equipment however.

No, just heard from my Rep (Zach) - they are no longer collateralizing equipment or autos (as of this weekend)...

[Fundyman]

I just got off the phone w/ a rep on Friday, who seemed to say they only do collateral now, but didn't specify only RE deals... At least she explained the interest-only part to me correctly!

[csbdave]

Email from WBL today: The company is abandoning all equipment and vehicular collateralized loans.
We will only use Real Estate as collateral for our business loans.

[Jerseyboy613]

loanmart does business loans against vehicles but they don't do all states. I have been doing alot of hard money deals against real estate recently.

[Chambo]

I don't think you are receiving accurate info. WBL is definitely still lending against vehicles. I know they shy away from utilizing equipment however.

Not anymore they aren't. Got the email today

[MatthewAStucchio]

To provide some certainty, WBL is currently only reviewing files with real estate as collateral. If these guidelines changes I am sure we will let you know but to save you and your WBL rep time please only submit RE backed files. Thank you.

[BSCI 504]

I have a post in the deal bin for persons/companies looking for cash out refinancing on SFR and Commercial properties above 75K. If anyone is ever interested.