[CFSCCorp]

Scenario:

Industry:Transportation
Income: 90k+ / month -- Avg Daily Balance about 4k (2015 Tax Return 1.2M)
Income Source: Government Contracts
TIB: 50+ years
Real Estate: None
Equipment: 26 buses, free and clear - worth about 5k each average
Credit: unclear (500 +/-?)
Loan Amount Req'd: 30k-40k
Loan Purpose: Purchase another bus
NSFs: Feb=1/March=6/April=4.
Current Positions: 26k ($1,000 / week) - Avg daily balance about 4k


Will take a 2nd for 30k or will take a first (paying off the first plus 20k-30k). Some negative activity on statements (NSFs--see above). May take Invoice Factoring but leaning toward MCA at the moment. Any MCA lenders out there will take a look with these NSFs but decent financials? or equipment finance on buses?

[golf2014]

That credit will be an issue on sales leaseback. Think your looking at less then that for 2nd..based on credit mostly.

[Jagopat]

Hi CFSC,

This looks like the perfect file for CFG Merchant Solutions. We specialize in 2nd, 3rd and further positions. 6 Negative days per month is our max, so this one fits right into our queue. Credit is also not a concern.
Send the file over, or give me a call to discuss.

Thank You,

Andrew Jagopat
CFG Merchant Solutions
AJagopat@CFGMS.com
(646)880-3824

[Anthony@torro]

We can get this done on a second position based off what you wrote. Please feel free to give me a call if you need any assistance here.

[Hedley Lamarr]

Scenario:

Industry:Transportation
Income: 90k+ / month -- Avg Daily Balance about 4k (2015 Tax Return 1.2M)
Income Source: Government Contracts
TIB: 50+ years
Real Estate: None
Equipment: 26 buses, free and clear - worth about 5k each average
Credit: unclear (500 +/-?)
Loan Amount Req'd: 30k-40k
Loan Purpose: Purchase another bus
NSFs: Feb=1/March=6/April=4.
Current Positions: 26k ($1,000 / week) - Avg daily balance about 4k


Will take a 2nd for 30k or will take a first (paying off the first plus 20k-30k). Some negative activity on statements (NSFs--see above). May take Invoice Factoring but leaning toward MCA at the moment. Any MCA lenders out there will take a look with these NSFs but decent financials? or equipment finance on buses?

We might be able to offer a receivables funding program and include some equipment, but would need to learn more. Kevin.Henry@SeacoastBF.com

[BB_Cooper]

Assuming you have this file funded at this point- seems like a no brain'r. Is the problem is it's a school bus operation and payback month revenue goes way down over the summer break?

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

[bdshaw]

CFSC, very good presentation of the facts.
I don't think you will get a lease unless your client will either post a security deposit of 50% or grants the lender a lien on other equipment equal to 50%.
A financial instrument using the accounts receivables would also solve their cash need.
I would be glad to discuss the options with you.
Bob Shaw
Iron Horse Credit
Rshaw@ironhorsecredit.com
734-929-3800