Any Lenders doing Collateral Based Loans on Semi Trucks?

**NickHubbard** · 01-04-2016, 02:44 PM

I have a borrower that's trying to get a loan against 2 Semi Trucks he owns free & clear. He's been an over the road operator for 3 yrs and is trying to get into Commercial Logging. He's trying to get $15,000 and needs it for about 60 days until he gets set up. One of the semi's is a 2001 9900 International and the other is a 1999 92 International. Both is great shape! Looking for direct lenders / No Brokers

*Not looking for a Cash Advance, but a Sale Leaseback type of deal!

**omegafund** · 01-04-2016, 02:53 PM

Yes

Originally Posted by NickHubbard

I have a borrower that's trying to get a loan against 2 Semi Trucks he owns free & clear. He's been an over the road operator for 3 yrs and is trying to get into Commercial Logging. He's trying to get $15,000 and needs it for about 60 days until he gets set up. One of the semi's is a 2001 9900 International and the other is a 1999 92 International. Both is great shape!

**NickHubbard** · 01-04-2016, 02:58 PM

Are you a direct lender?

**AndyYSCISOdept** · 01-04-2016, 03:12 PM

Omega is a good guy to work with. Ill vouch for em. absolutely.

**NickHubbard** · 01-04-2016, 03:20 PM

Hey Omega! How do I get in touch with you? Just tried calling you on the number listed on your website

**Funder Mark** · 01-04-2016, 03:21 PM

Had the same issue.

**AndyYSCISOdept** · 01-04-2016, 03:37 PM

omega, can I give them you irect contact Information I have on file?

**omegafund** · 01-04-2016, 03:45 PM

Thanks andy appreciate it.
Yes we direct but not on trucks.
I am bit busy this new year but email me direct and I will give you couple of names for direct lenders for trucks

Bzuniga@omegafund.com

Originally Posted by AndyYSCISOdept

Omega is a good guy to work with. Ill vouch for em. absolutely.

**Triton** · 01-05-2016, 05:04 AM

Total garbage.

Why are you using an outlook.com email address?? Do you not have an official email?

**bdshaw** · 01-05-2016, 12:10 PM

Originally Posted by NickHubbard

I have a borrower that's trying to get a loan against 2 Semi Trucks he owns free & clear. He's been an over the road operator for 3 yrs and is trying to get into Commercial Logging. He's trying to get $15,000 and needs it for about 60 days until he gets set up. One of the semi's is a 2001 9900 International and the other is a 1999 92 International. Both is great shape! Looking for direct lenders / No Brokers

*Not looking for a Cash Advance, but a Sale Leaseback type of deal!

Nick- would you lend any of your own money against two 15 year old trucks? If you would please let us all know. If not, why believe someone else would and waste your time?
Bob

**FUNd** · 01-05-2016, 12:35 PM

Originally Posted by bdshaw

Nick- would you lend any of your own money against two 15 year old trucks? If you would please let us all know. If not, why believe someone else would and waste your time?
Bob

Hey, BOB, this type of deal is done all the time against trucks that are even 20 years old, depending on the mileage and condition. How about before you start spouting off, you stick to what you're good at? We all know you're old man river, and know everything about everything, but us mid-career guys can still teach you a thing or two.

**bdshaw** · 01-05-2016, 01:04 PM

F, of course you are correct but this deal will not fly. If it does I'll give the broker a few hundred dollars for the lender's name and will admit to being wrong.

**Michael I** · 01-05-2016, 01:30 PM

Originally Posted by bdshaw

F, of course you are correct but this deal will not fly. If it does I'll give the broker a few hundred dollars for the lender's name and will admit to being wrong.

bob please don't use the F word on this forum

**Funder Mark** · 01-05-2016, 01:33 PM

Originally Posted by Michael I

bob please don't use the F word on this forum

Pretty sure by F he meant FUNd, not Funny

**bdshaw** · 01-05-2016, 01:55 PM

Originally Posted by Funder Mark

Pretty sure by F he meant FUNd, not Funny

Thank you Mark

**bdshaw** · 01-05-2016, 02:08 PM

Originally Posted by bdshaw

Nick- would you lend any of your own money against two 15 year old trucks? If you would please let us all know. If not, why believe someone else would and waste your time?
Bob

BTW, my question to Nick is a valid one. The people here only have two things to sell. time and knowledge.
These two trucks have been on the road for three years and typically on road vehicles run several hundred thousand miles per year. We don't know where they spend their earlier life but we can assume that their are substantially more than 600,000 miles on each truck.
A cursory glance on Google will tell you that this model 15 year old truck is difficult to find a value for meaning it's worth very little.
Nick, as I said earlier, I'll be glad to pay you a few hundred dollars for the name of the lender you find to get this deal done.
I just think your time is better spent.
Bob

Thread Tools

Display