[WeFundIt]

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.

[bdshaw]

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.

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

[dpFund]

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

[Skytop]

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.

Florida?

[WeFundIt]

Yes, Florida.

[Skytop]

I thought so - I know the deal well.

[Kevin Henry-Seacoast]

I thought so - I know the deal well.

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.

[Skytop]

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 thanks for reaching out - I think WeFundIt is the one you are trying to reach, I didn't make this thread I just noted that I'm very familiar with the merchant, his business etc.

[Kevin Henry-Seacoast]

Kevin thanks for reaching out - I think WeFundIt is the one you are trying to reach, I didn't make this thread I just noted that I'm very familiar with the merchant, his business etc.

Ha! Sorry about that!!! WeFundIt....Please give me a ring if you think it makes sense.

[WeFundIt]

I thought so - I know the deal well.

Thanks for the response, but I doubt that you do. For starters, this client is almost virgin, they haven't been shopped. Furthermore, there's what, a good couple hundreds of trucking companies in FL, any one of which could fit the very meager profile that I offered?

[WeFundIt]

Sure thing, Kevin. I'll buzz you in the morning.

[snajieb]

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

[RichardGerard]

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

[WCSmith]

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 Smith