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12 Replies Last post: Nov 24, 2008 7:32 PM by dpsecurities

Nov 24, 2008 5:40 AM

loloqt 4 posts since
Nov 24, 2008

I own and operate a vehicle repossession and towing company. We currently primarily do repossessions. With the current economy, our services are in a higher demand. In order to keep up with demand and expand we need to increase our current insurance for larger contracts, get at least one more truck running, and hire employees. Unfortunately we can't use personal credit since it isn't good enough to obtain a line of credit so we are running out of ways to finance our growth. What should we do????

Tags: line_of_credit, personal_credit, alternate_financing_options, financing, growth, investor, investment_loan Report as inappropriate

LUCKIEST 7,935 posts since
Aug 6, 2007

1. Re: Need $50k for capital and expansion of repossession company Nov 24, 2008 7:45 AM

Need $50k for capital and expansion, Welcome

Tell me a little more. How long have you been in Business?? Do you presently have employees NOW??
Do you have an Accountant??

If this was my company and I wanted to expand, I would do the following.
Develop both a Business and a Marketing Plan. It is one of the first things a lender will want to see.
Contact SCORE. SCORE is FREE both in person and online.

Good luck, LUCKIEST

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motherfunder 8 posts since
Nov 24, 2008

2. Re: Need $50k for capital and expansion of repossession company Nov 24, 2008 12:26 PM

Email me at mgage@motherfund.com and I can see if we can get you the 50k. I am sure we provide capital for small to mid size companies.

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Tony2009 13 posts since
Nov 17, 2008

3. Re: Need $50k for capital and expansion of repossession company Nov 24, 2008 12:41 PM

It really depends. If your willing to put up the equipment with in your business up for collateral. Then there may be numerous options available. But if that does not "float your boat", then the choices may begin to shrivel. However, if you are accepting credit cards from your customers. Then funding may still be available for you. Even with a poor credit score. Contact Mr. Tony Keith at 877-700-7947 Ext 1232.
Best of Luck!

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loloqt 4 posts since
Nov 24, 2008

4. Re: Need $50k for capital and expansion of repossession company Nov 24, 2008 3:52 PM

in response to: LUCKIEST

My company has been in business for almost a year and a half so far. We do have an accountant. Beyond myself and my business partner actively working, we have one employee. I have been working on a business plan but unfortunately haven't felt the need to push and complete it since no one will even look at our company due to our personal credit.

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loloqt 4 posts since
Nov 24, 2008

5. Re: Need $50k for capital and expansion of repossession company Nov 24, 2008 6:47 PM

in response to: Tony2009

We work directly with banks and finance companies, so we do not process credit cards. We have a tow truck that can be used as collateral but it is not worth $50k. Are you still able to help?

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fundingsource 9 posts since
Oct 29, 2008

6. Re: Need $50k for capital and expansion of repossession company Nov 24, 2008 6:44 PM

email me bharris@thefundingsource.org

we have several programs that fit your criteria lets see which one you will fit into.

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tqcouch 42 posts since
Nov 3, 2008

7. Re: Need $50k for capital and expansion of repossession company Nov 24, 2008 6:18 PM

in response to: loloqt

loloqt,

Well, what is your personal credit as of today?

Our company funds credit as low as 600, for equipment needed to help grow your buisness as well as capital to expand.

Im here all night.

My name is Tq

Email: TCouch@growbizpro.com

Thanks.

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dpsecurities 8 posts since
Nov 12, 2008

8. Re: Need $50k for capital and expansion of repossession company Nov 24, 2008 6:24 PM

Where are you located lets talk. We may be able to help one another.

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tqcouch 42 posts since
Nov 3, 2008

9. Re: Need $50k for capital and expansion of repossession company Nov 24, 2008 6:36 PM

in response to: dpsecurities

dpsecurities,

I'm located in Atlanta,Georgia

Give me an email: TCouch@growbizpro.com

Thanks Tq

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loloqt 4 posts since
Nov 24, 2008

10. Re: Need $50k for capital and expansion of repossession company Nov 24, 2008 7:10 PM

in response to: dpsecurities

We are located in Seattle, WA.

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dpsecurities 8 posts since
Nov 12, 2008

11. Re: Need $50k for capital and expansion of repossession company Nov 24, 2008 7:28 PM

in response to: loloqt

Well I am in Georgia. And I know a little about the towing service. Oh I have a tow truck.

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dpsecurities 8 posts since
Nov 12, 2008

12. Re: Need $50k for capital and expansion of repossession company Nov 24, 2008 7:32 PM

in response to: tqcouch

Email me at dpsecurities@gmail.com message for tq

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ForumsFinancing Tips

This Question is Possibly Answered

Need $50k for capital and expansion of repossession company

Nov 24, 2008 5:40 AM

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