[Acufund]

I have a trucking company that needs to consolidate 3 advances. Currently paying out $1595 / day between max advance, quarterspot and quickfix with a total balance around 180k. Merchant also has bluevine in there. Merchant is averaging 140k / month and has been open for 2 years, zero negative days and fico is at 670.

Dealstruck declined due to industry and funding circle declined because the business opened in 2014 so it does not have 2 full years in business. Tax returns and profits were not great in 2015, 2016 is when the revenues really started picking up. And no he does not have real estate to put up.

Direct lenders only, please PM if you can help.

[CrouchingIsoHiddenFunder]

Honestly, with a fico over 650, buying him out via a proper term loan is probably your best bet. You'll need full financials to pull that off though. I've had a lot of trouble making consolidations happen for amounts over 100k, while a lot of lenders and brokers will say they can get it done, I usually wind up getting yet another MCA quote out of them for the trouble.
...there is also the trucking company thing, a lot of lenders do not like trucking and transport to begin with.

[dpFund]

I do a lot of consolidations and service a lot of trucking companies (funded $1.1M in trucking company consolidation in June) but have been staying away from this thread to see if someone else wanted to jump on it.

So if Dave Margolies can't help you, feel free to reach out. My payment would be under $15k monthly for $180k, compared with $33k+ they are paying now on a monthly basis.

I won't bull**** you, there is some hesitancy for a small trucking company with limited time in business. My minimum is typically two years in business as well. But if a company is strong, we have been known to bend a bit.

Payments are monthly (not daily). Minimum funding is $100k, max is $2MM. Clients can pay me off anytime after six months with no fees, penalties or interest. Just pay remaining principal and they are out.

Feel free to reach out if you would like to discuss.

Best,

Dan Page
dan@fundingstrategypartners.com
Direct: (303) 938-8280

[mcaguru]

Cresthill probably has the largest portfolio of independent trucking companies (I believe its the largest because of an alliance we created a while back)...

So if anyone has trucking files, Keep us in mind we know how to make Hard offers within 3 hours and fund with fewest stips....

[Acufund]

Appreciate the replies. Unfortunately the revenue didn't really pick up until this year so I don't think that he is profitable enough for your program Dan. although that would be a good fix.

Thank you Marcus but a 4th position isn't what I would be looking for. Merchant is paying out enough as is, the last advance that was taken out with quickfix was due to a lying broker that used the "just take out this advance and after 30 days of clean payment history we will wrap everything up in 1 payment for you."

[bdshaw]

Acufund, do you know how much of a line they have with Blue Vibe?
An asset based loan may be the solution and for situations like this we are direct lenders.
Bob Shaw

[Acufund]

Hi Bob,

Merchant has $18,754 as of 06/23/2016 and is paying $991.04 weekly.