ForumsFinancing Tips

Up to All Forums

This Question is Possibly Answered

1 "correct" answer available (5 pts) 3 "helpful" answers available (4 pts)
Post a new topic
4 Replies Last post: Jun 4, 2009 11:21 PM by ISAWASH

Can I get a loan using assets as collateral? who give these?

May 30, 2009 6:11 PM

Click to view rolonap's profile Authority rolonap 12 posts since
Jan 29, 2009
I have been turned down for conventional loans on my less-than-1-year-old bussines. How can I get a loan using the machines I purchased for my bussines as collateral? These are $20k machines (3) completely paid off. Who give these kind of loans?
Tags: Report as inappropriate
Click to view BizSolutions's profile Mogul BizSolutions 63 posts since
Jan 11, 2009
1. Re: Can I get a loan using assets as collateral? who give these? Jun 2, 2009 5:28 AM
Hi,

Please email me as I may have some solutions for you. Monique@accuratefinancial.info
Report as inappropriate
Click to view phanio's profile Mogul phanio 604 posts since
Apr 7, 2009
2. Re: Can I get a loan using assets as collateral? who give these? Jun 2, 2009 5:55 AM
There are several ways - all that lead to equipment lenders and leasors. Think about this. You can either use that collateral to secure funding or sale that equipment to and equipment lender then lease it back (just a paper transaction - you don't have to take the equipment to the lender).

Most non-bank equipment lenders put much less emphasis on credit than banks do. Plus, since equipment lending is their primary business - you will get a better deal through them.

We list several resources on our website that can help - just look for the equipment tab on the top of the home page.

Businesss Money Today
www.BusinessMoneyToday.com
Report as inappropriate
Click to view linn.35's profile Professional linn.35 5 posts since
Apr 17, 2009
3. Re: Can I get a loan using assets as collateral? who give these? Jun 4, 2009 6:43 PM

Rolonap, we have a number of lenders that specialize in equipment financing.

Let me know if I can help,

Jonathan @ www.initialunderwriting.org
Report as inappropriate
Click to view ISAWASH's profile Professional ISAWASH 3 posts since
Jun 4, 2009
4. Re: Can I get a loan using assets as collateral? who give these? Jun 5, 2009 12:49 AM
we are in a similar situation, we have a property that is paid in full and would like to obtain a loan to build a car wash on.
the property value is around $450.000. I would appreciate any advice you guys might have (SBA??)
Report as inappropriate

More Like This

Most Recent Forum Posts

Growing website in need of advertisers. $10 adspace
10 minutes ago

starting a wedding biz
1 hour ago

Medical loans & equipment leaseback
2 hours ago

Marketing Plan
5 hours ago

Legend

  • Open Question
  • Answered Question
  • New content since your last visit
  • Updated content since your last visit
  • Content you have read