Results 1 to 14 of 14
-
02-15-2017, 10:53 PM #1
- Join Date
- Mar 2016
- Posts
- 47
Trucking Co. needs $350 - 500k LOC - Over $4mil/yr. Clean banks.
I've got a trucking co. that is looking for a line of credit of between $350 - 500k. They currently have a sizable A/R funding, but now want the flexibility of a LOC. No MCA. Banks are very clean, with no NSFs or negative days, and healthy deposits averaging around $295k/mo. for the past 4 months. ~700 FICO. My main guys don't do LOC for trucking, so here I am. Direct lenders please.
-
02-16-2017, 09:35 AM #2
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
We fundit, the A/R financing most likely is a revolving line of credit secured by an all asset lien that will nor subordinate to a additional lender. The reason it's called a line is because the amount that may be borrowed increases and decreases as the amount of collateral (A/R) varies. Is this the structure you are looking for?
A few questions please:
how large is their A/R line of credit and is it from their bank?
Do they have any other assets they can secure a new line with?
Bob
rshaw@ironhorsecredit.com
734-929-3800
-
02-16-2017, 09:58 AM #3
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
I am a direct funder and fund a lot of trucking companies.
We do not provide a formal LOC, but a lot of clients treat us like one, taking funding, paying it down/off for discounts, then funding again as they grow.
I'd need to see net monthly income in the $40k-$60k range to pre-qualify for$350k - $500k, which is within the norm for trucking industry margins.
Feel free to reach out if you would like to discuss.
Best,
Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com
-
02-16-2017, 11:52 AM #4
-
02-16-2017, 12:15 PM #5
- Join Date
- Mar 2016
- Posts
- 47
Yes, Florida.
-
02-16-2017, 03:08 PM #6
- Join Date
- Mar 2015
- Posts
- 62
I thought so - I know the deal well.
-
02-16-2017, 03:15 PM #7
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,501
Skytop,
We are based in Florida. I don't typically chase trucking deals because everyone and their dog's uncle does them. Since they are a Florida Company, I would be happy to take a look. We offer factoring and asset based lines of credit. We are owned by a bank here in Florida so the client might have the ability to move around the credit suite at our Company. If they don't qualify for a bank LOC, I know for sure they will love our non-bank products. Kevin.Henry@SeacoastBF.com 561-623-1872 We are Seacoast Business Funding, a division of Seacoast National Bank. Seacoast is one of the largest publicly traded Florida based banks.Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
-
02-16-2017, 04:05 PM #8
- Join Date
- Mar 2015
- Posts
- 62
-
02-16-2017, 04:06 PM #9
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,501
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
-
02-16-2017, 07:51 PM #10
- Join Date
- Mar 2016
- Posts
- 47
-
02-16-2017, 07:53 PM #11
- Join Date
- Mar 2016
- Posts
- 47
Sure thing, Kevin. I'll buzz you in the morning.
-
02-17-2017, 03:18 PM #12
- Join Date
- Apr 2016
- Posts
- 103
We Fund It,
We can entertain structuring a LOC for this borrower with real estate (commercial / residential). We also have the ability to structure a 4-year term loan. Let me know if you would like to have a conversation.
Sean
LiftForward
917.477.6534
sean@liftforward.com
-
02-20-2017, 08:26 AM #13
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
WeFundit,
In the event Kevin's group can't wrap around this one, reach out to me.. We can likely secure the LOC you request swiftly..
RG
-
03-22-2017, 06:55 PM #14
- Join Date
- Mar 2017
- Posts
- 8
Did you get this deal done? I am with Alliance Funding Group. We are an industry leader in equipment financing and working capital. I can quote as low or lower than traditional banks. I would appreciate the opportunity to prove that to you. We have a simple credit app and can get you a quote the same day. Please contact me.
http://alliancefunds.com/
wsmith@alliancefunds.com
Thanks,
Will SmithDid you get this deal done? I am with Alliance Funding Group. We are an industry leader in equipment financing and working capital. I can quote as low or lower than traditional banks. I would appreciate the opportunity to prove that to you. We have a simple credit app and can get you a quote the same day. Please contact me.
http://alliancefunds.com/
wsmith@alliancefunds.com
Thanks,
Will Smith
Similar Threads
-
Equipment Purchase - Trucking 500k Needed
By Skytop in forum Deal BinReplies: 7Last Post: 02-19-2017, 01:48 PM -
Trucking - $100k/mo. - No Traditional Banks - Uses Comchecks/EFS
By holdinghand in forum Deal BinReplies: 3Last Post: 12-12-2016, 01:35 PM -
Low monthly revs, but clean banks, need $10 - 20k
By WeFundIt in forum Deal BinReplies: 5Last Post: 07-12-2016, 09:54 AM -
UK DEAL - 40k monthly - only 4 months in business - CLEAN banks, very organized
By PJLamar38 in forum Deal BinReplies: 0Last Post: 01-15-2016, 01:03 PM -
Why do banks outsource deals to other banks?
By Quickfunder in forum Merchant Cash AdvanceReplies: 1Last Post: 04-03-2013, 11:16 AM