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10-28-2015, 11:17 AM #1
- Join Date
- Aug 2015
- Posts
- 1
Trucking deal home credit score 660/ monthly average 150k
Hello,
i have a trucking deal right now that is looking to consolidate or for a first position. She currently has 3 other advances totaling around 30k in total. She ended up dealing with a broker that said he would pay them all off but instead he stacked her. She is a great merchant and has never missed a payment. She does about 130-150k on average. Anyone out there willing to take this deal on?
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10-28-2015, 11:31 AM #2
- Join Date
- Jul 2015
- Posts
- 120
sent you a private message
Thanks
BrentBrent Goggins
Business Credit Consultants
ISO Relations Manager
Direct: 518-776-7501
Email: BrentG@bccusa.com
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10-28-2015, 12:01 PM #3
- Join Date
- Dec 2013
- Location
- Connecticut
- Posts
- 332
How many drivers and trucks? How often are they paid?
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10-28-2015, 02:03 PM #4
Shoot me an email and we'll see what we could get done. This sounds doable since her balances are low
Michael Jagiello
Director of Client Acquisitions
Blue Granite Funding LLC
mjagiello@bluegranitefunding.com
1(718)873-6407 Cell
1(917)791-8911 Fax
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10-28-2015, 06:40 PM #5
Trucking deal home credit score 660/ monthly average 150k
WBL loves working with Trucking businesses. Do a lot of consolidation also. My email is kmacdonald@wbl.com and direct line is 860.436.2183 . Contact me, let's get this done!
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10-29-2015, 03:51 PM #6
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Your client should consider a line of credit, factoring. They get access to 80% of their accounts receivable and you stand to make around $12,000 a year for generally 3 years.
Bob Shaw
rshaw#millenniumfundingusa.com
734.929.3800
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10-29-2015, 04:40 PM #7
- Join Date
- Sep 2015
- Location
- Miami, FL
- Posts
- 189
Trucking deal home credit score 660/ monthly average 150k
I can provide factoring for this client non-recourse and fund up to 95% of his receivables and take care of all those cash advances.
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10-29-2015, 05:16 PM #8
- Join Date
- Oct 2015
- Posts
- 10
yes i will take it on as i am a direct lender ill pm you my info
best regards/
Chezky Stadler
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10-29-2015, 07:01 PM #9
- Join Date
- Apr 2014
- Posts
- 781
if the other 2 advances didn't pay off the previous advances...this tells me there are issues. nobody can tell you what they can or can't do unless they see statements and run credit etc. look at it this way..why wouldnt the 2nd or 3rd advances want to give them more money and get the factor rate for the bigger advance??? likely there are issues. there is a way around this possibly.
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10-30-2015, 07:41 AM #10
- Join Date
- Jun 2015
- Posts
- 3,327
Golf your way off here . Why would a company want to be first position of they can give less on a shorter term and higher factor then the first . They are out and when the merchant goes bad the first guy gets screwed . That has always been pearl and Yellowstone way . For example they can go 6 months on a second but if the first position is 6 months they will give you only a 3 month offer
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10-30-2015, 09:53 AM #11
- Join Date
- Oct 2015
- Posts
- 53
Michael that may have been the Yellowstone way for a time, but Yellowstone is not the same company it was a few years ago, or even a year ago for that matter. We've been offering 4, 5, 6, or even 7 months on second, third, and even select fourth position deals. Isaac and the new management team at YSC/Fundry have been working non-stop to make YSC a lender that can be competitive on any file, and not just giving the same predictable offer on every deal like so many in the industry assume.
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10-30-2015, 10:06 AM #12
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
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10-30-2015, 10:21 AM #13
- Join Date
- Jun 2015
- Posts
- 3,327
Joe are you telling me if pearl somehow got a merchant to take a 4 month deal as a first that yellowstone will come in as a second with a 7 month deal ?
i know you will do a 7 months if the merchant has a 12 month with on deck . but i have never seen a second position give longer then the first with the exception of quarter spot and iou .
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10-30-2015, 10:32 AM #14
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
I think if the merchant only qualified for a 4 month deal as a first position he probably wouldn't qualify for a 7 month second. However, it is not uncommon for us to match the term of the first position deal. In essence we want to avoid having the first position deal renewed one or more times while our second position isn't into the juice.
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10-30-2015, 10:40 AM #15
- Join Date
- Jun 2015
- Posts
- 3,327
First of all thank you for saying the truth and agreeing with me that you wont give a longer term then the first position .
you will be surprised twice in the last 3 months i got a 15 month deal to buy out someone that had 4-6 month deal .
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10-30-2015, 10:48 AM #16
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
I only partially agreed with you, the flip-side of my statement is there are definitely times where we will go out longer. In fact I have a guy right now with a balance on a 2.5-3 month deal that we just offered a 6 month deal to. There are definitely times where merchants take a deal that is shorter than what they can qualify for.
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10-30-2015, 11:41 AM #17
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Other than trying to make maximum upfront commission I'm not understanding why an ABL LOC or factoring arrangement- with soft or limited notification- isn't being offered. If the financials support it perhaps a term loan...
With the annuitized trails (or higher lending amounts with longer payback terms) earnings will be greater over time and the clients debt service costs/needs will be addressed appropriately.
www.businesscapitalconsultants.com
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10-30-2015, 01:13 PM #18
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
Whoa, did you just drop every Financial vocab word ever in that post? LOL JK
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10-30-2015, 01:28 PM #19
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Trucking deal home credit score 660/ monthly average 150k
I agree with Richard and this deal should have been put to bed by now.
If they are factoring and taking advances they probably would not qualify for a resonably priced loan.
The solution is with the factor is not fully advancing agains the recevables.
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11-06-2015, 02:54 PM #20Kaitlyn Miller
ISO Coordinator
770-617-2377
KM@SuperiorCapitalfund.com
http://superiorcapitalfund.com/
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11-06-2015, 04:15 PM #21
- Join Date
- Sep 2015
- Location
- Miami, FL
- Posts
- 189
Trucking deal home credit score 660/ monthly average 150k
If your client is open to factoring we can advance up to 95% of their outstanding receivables and take care of the open balances. Let me know if interested.
Good luck!
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11-06-2015, 11:22 PM #22
WBL loves trucking companies, and we are great with consolidation, no specific net %. I would love to take a look at this for you. My email is kmacdonald@wbl.com and direct line is 860.436.2183 . Contact me!
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11-09-2015, 02:25 PM #23
and we have a NEW WBL'er on the boards
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11-09-2015, 02:30 PM #24
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
Hey admin, can we get a ruling on duplicate posts on this...? Im just saying, Its my birthday and reading duplicate posts was the last thing I wanted...just saying
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11-09-2015, 02:38 PM #25
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