Results 1 to 9 of 9
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06-18-2016, 11:14 AM #1
Trucking Company Specialties
Who are top 5 MCA companies that specialize in trucking company for 15-18 months terms.
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06-19-2016, 11:35 AM #2
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Trucking Company Specialties
Trucking fits very well with a hybrid of both account receivable and unsecured lending.
I would be glad to explain if you have a few moments.
Bob Shaw
Advance Credit Funding Corporation
rshaw@advancecredit.com
7e4-929-3800
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06-19-2016, 06:48 PM #3
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
Trucking Company Specialties
Those types of terms are extremely difficult for trucking in short term unsecured lending / cash advance unless they have 20+ trucks or are a logistics company. For many A paper companies, trucking is a restricted industry. For us, trucking is semi-restricted (and we won't go anywhere close to that term unless they are a logistics company) and we require a minimum of 4 trucks.
Funding strategy partners (Dan Page) seems comfortable with trucking but deal must be over 100k and the company profitable -- if approved, his terms (if I remember properly) are 18 months with monthly payments.
Maybe try loan me as they seem willing to find anything, though not sure I'd call them an A player.
But I'd focus on asset-based lenders or equipment leasing for those types of terms. Factoring may also work depending on business modelLast edited by Cfairbank; 06-19-2016 at 06:52 PM.
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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06-19-2016, 09:18 PM #4
I work with tons of trucking guys logistics can be risky but if the merchant knows what they are doing it can be a good turn around im going to pm you send some trucking deals i have no problem helping the client for you lets get something going
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06-20-2016, 12:07 AM #5
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
Agreed, and our logistics point isn't a blanket statement -- we will evaluate the business model on a case by case basis. Trucking is the "semi-restricted" industry that we have the highest number of declines, no doubt about it. We are not actively seeking trucking deals unless they have something more to their business model than just a couple of trucks -- and the services side, especially if it is highly sophisticated, is where we get interested.
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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06-20-2016, 09:19 AM #6
Credibly will work with Trucking/Logistics companies. This is a restricted industry for us so terms usually do not usually exceed 10-12 months.
Jeannette Nearing | Business Development Officer| AmeriFactors
| M (770) 362-2307
jnearing@amerifactors.com |
http://www.amerifactors.com
https://www.linkedin.com/in/jeannettenearing
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06-20-2016, 01:11 PM #7
- Join Date
- May 2016
- Posts
- 148
Quarterspot and CAN will go 15-18 months on a clean trucking file with good credit.
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06-20-2016, 02:40 PM #8
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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06-20-2016, 04:17 PM #9
- Join Date
- Jun 2015
- Posts
- 3,326
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