[LoanShark714]

Apparently,

The only ones we are working with now require truckers and transportation businesses to have atleast a fleet of 3 trucks in order to obtain a working capital loan?


I knew that they need atleast 4 transactions + depositing into their bank account but never heard of lenders requiring a fleet of 3 for financing - especially for a wc loan.

Who would be the best at funding truckers and transportation from A-D Credit?


Thank you so much in advance.

[abfunders]

How about a LOC based on their A/R? A bit different than a factor, but easier to deal with. Do they have $1mm in revenue?

[LoanShark714]

Could you please send me some info on A/R. I never got into A/R but would like to know how it works and might consider this line for our team down the line.

Thank you

[BB_Cooper]

Cooper does not require any minimum fleet size for truckers. Most of our trucking deals have fewer than 6 tractors.

We focus on the C/D higher risk files-

Robert S Bloink
EVP of ISO Partnerships
Direct: 248-341-9477
Email: bb@cooperasset.com
Web: www.cooperasset.com
logo-01smaller.jpg

[abfunders]

Factoring = Purchase of A/R at fraction of value. Change the billing address to the factoring company. All transactions are manual. Starting rates are generally at 1.5%/mo.
LOC secured by A/R = Lockbox (new bank account) in the company's name at the current bank, to monitor flow. They'll forward invoices at 1.2-1.5%/month.

This company is also fintech, so the entire bank account is automated and monitored real-time with an app and can be tied into Quickbooks.

Is there a better option?

[Join Credibly]

Credibly does not require a minimum fleet size either. Give me a call @ 248-633-1238

[mcaguru]

By far Mantis is a leader in funding trucking / transportation companies with very few stips (perhaps this should worry me).
(same with contractors we LOVE funding them!!).

[LoanMe]

Apparently,

The only ones we are working with now require truckers and transportation businesses to have atleast a fleet of 3 trucks in order to obtain a working capital loan?


I knew that they need atleast 4 transactions + depositing into their bank account but never heard of lenders requiring a fleet of 3 for financing - especially for a wc loan.

Who would be the best at funding truckers and transportation from A-D Credit?


Thank you so much in advance.

LoanMe works with all "For-Profit" Industries. Minimum number of deposits per month is (1). Minimum TIB 2 months for Fixed Payback Loans/ and 3 months for Simple interest term loans.

[CHAMP3]

trucking and transportation can be tough.. I can get it done though.. 6-12 month terms and decent factors.

Chris
916.400.9001 Ext.103
888.535.8499 (Fax)
www.premierbusinesslending.com

[Enablement Data]

The best way to find the most promising trucking deals is to be a part of their vendor groups. From there, you'll be able to pick and choose the right types of deals to fund and go after.

[mishatbb]

TBB values trucking/transportation, as long as they're asset based (no brokers, 3pl, etc.).