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01-26-2018, 06:08 PM #1
Taxi Company Needs Funding to Put Cars Back on the Road
There's a lot going on here:
- Company Averages $50K/month
- Closed BoA account back in Oct to open new account with other bank.
- CPA advised they open yet another account, which they did just about 2 weeks ago.
- Problem is, they opened the account prior to getting any funding.
- One company had them approved for $11K, but once they found out the account was closed, they declined, as per policy of not funding any account closed within 30 days.
- This is an unusual funding situation for most lenders, so I need someone to think outside the box.
- Merchant is stuck because unless he gets plates back on the cars, he can't put his drivers to work, so he barely makes any revenue.
- Willing to put up vehicle titles as collateral as long as the funding amount is reasonable.
- Only needs about $10K to make it happen.
If you have a system that allows for funding using a vehicle as collateral, or you have some unique funding system that could accommodate the merchant, let me know ASAP.
Many would say this file is ridiculous to work on, but technically, I've seen quite a few of you boast that you fund startups. Technically, this is far ahead of a startup; guy's in a jam that can easily be solved w/ some collateral & about $8-10K.
Send me a PM if you have an answer.
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