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05-23-2023, 09:44 PM #1
- Join Date
- Nov 2022
- Posts
- 11
Equipment Financing - Merchant adding 5th truck to fleet
Client owns established trucking company looking to add a 5th truck to his fleet.
Credit 650
Rev $50k/mo
Purchase price $40k and has $10k to put down
I know trucking is a wasteland right now but does anyone have any recommendations?
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05-23-2023, 10:19 PM #2
I've had Tony do 100% financing for 585 Fico....
Here are some references to lenders:
Tony Borchello
First Financial
(888) 211-2197
mobile: (949) 800-5767
tonyb@firstfinancialweb.com
Evan Sowa
Senior Account & Finance Manager
Everlasting Capital Corporations
603-351-4725 | 401-771-4883
evan@everlastingcapital.com
Jeff Brannon
Slim Capital
jeff@slimcapital.com
Office: 949-535-2353
Cell: 949-981-0431
Joe Burleson
Equify Financial LLC- Southeast
777 Main St. Suite 3900, Ft Worth, Tx 76102
|C214-673-8575
joe.burleson@equifyllc.com
Loans up to 7 years and rates 8% and up.
Programs for Fico 680 and up
620 to 680
Below 620
Amount of money requested...
Day cab, sleeper or what
Long haul, short haul or what?
How many truck current own
Type of products hauled
DOT number
Fico
Loan App
4 months business bank statements
Most recent business tax return
Do they require apportioned plate?
Are they Owner Operator or they have drivers?
If have drivers how many driver currently work with them?
If Owner Operator How many years of CDL/ Industry hauling experience?
Is PG a Homeowner or they are renting?
Have they financed or leased a truck before?
How is their current payment history?
If required can we get loan reference from the other lender(s)?
Invoice on truck he wants to buySteve Benjamin
Professional Business Loans
1012 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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05-24-2023, 03:44 PM #3
- Join Date
- Nov 2019
- Posts
- 657
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05-25-2023, 07:37 AM #4
- Join Date
- Oct 2022
- Posts
- 266
Ship it over here. I can help you out. How old is the equipment and what is the mileage?
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05-25-2023, 09:38 AM #5
If the client needs 30k, and assuming the client can get equipment financing for it, why would you put this client in an MCA for an equipment purchase?
Of course, if the client isn't approvable for the equipment route, you go to the next product.
But that is the issue of our industry.
Not being able to access, or not knowing how to provide equipment financing, and putting clients who are very approvable in the equipment space in an MCA.
Bad business.
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