[NickHubbard]

I have some clients that are looking for funding for the purchase of 76 rail cars, for $1.9M. They have a new system that converts open top hopper rail cars (unused coal carrying cars) into a closed hopper system. They are easily converted by adding a roof and changing the discharge pans.

They have a takeout letter from Pacific West Equipment, a bank that will take out the cars as soon as they are converted. The total turnaround time on the conversion is about 120 days. They are inspected and fully certified for use. The title to the cars can stay with the entity funding the purchase until the cars are transferred to the end user.

They also have a Purchase Order from another company who wants to buy the rail cars for $3.4M

Main Applicant credit score in the 700's and gross income just over $100k a yr and the co applicant credit isn't good and income is over $100k a yr.

There basically looking for a bridge loan for 3 months and they have contracts in place from buyers. Is there anybody that can get this funded? They need a LOI by friday.