This Question is Possibly Answered

1 "correct" answer available (5 pts) 3 "helpful" answers available (4 pts)
1 2 Previous Next
Post a new topic
22 Replies Last post: Oct 20, 2008 2:44 PM by financial180

In need of a business loan

Dec 26, 2007 6:16 PM

Click to view bhooterville's profile Professional bhooterville 7 posts since
Dec 26, 2007
I own a small trucking company that has been in business for 2.5 years. It's been rough trying to get with the right brokers or the right company to lease the trucks too. Finally things were starting on the right track. My husband is one of the three team drivers and he is out of work due to a foot injury. One of our trucks went down (blown turbo) in the state of CT. The driver kept driving and caused extensive damage to the truck's engine. We only have one truck running at the moment and money is slim to none due to the winter season with trucking. Because of late payments and other financial set backs it's been hard to obtain a loan for more equipment. We have a family friend that is willing to co-sign a loan for me. Can anyone give me the name of a bank or person to contact. Someone that may have already gone through the same or simular situation? We now have our own authority and the money is there to be made, we just need more equipment because trucks and trailers are needed. We currently have 3 trucks and one trailer. An equipment loan will employ more people and help generate revenue for the business.
Report as inappropriate
Click to view LUCKIEST's profile SCORE LUCKIEST 7,930 posts since
Aug 6, 2007
1. Re: In need of a business loan Dec 26, 2007 6:45 PM
Bhooter, Good luck, To start with, where are you located?? City and State??
Help us to help you. You want a bank or person to contact. What bank do you use or your family friend's bank??
Do you have an Accountant?? If yes can he help find a bank for you??
Another thought. SCORE. Contact your local SCORE office. Banks will want to see a Business Plan.
SCORE knows local bankers and can help you prepare the Bus Plan.
LUCKIEST
Click to view CorpCons08's profile Mogul CorpCons08 1,128 posts since
Nov 14, 2007
2. Re: In need of a business loan Dec 27, 2007 12:24 AM
bhooter,

Is it +impossible+? no.
Working with equipment purchases gives us substantial collateral to work with.
I would be happy to speak to you in further detail.
My firm is a business consulting group, and one of our avenues of expertise is working with SME (Small to Medium Sized Enterprises) and Corporations to obtain financing.
You can reach me at d.skolnick@skolnick-associates.com if you would like to speak further.

Best wishes for a safe and happy new year.

CC08
Click to view Small Biz Wiz's profile Professional Small Biz Wiz 11 posts since
Dec 6, 2007
3. Re: In need of a business loan Dec 27, 2007 9:31 AM
There is some information on obtaining a business loan (and many other issues) available at www.mymoney.gov/smbus/shtml. This is a "free" source of information provided by your friendly federal government.
Click to view DomainDiva's profile Mogul DomainDiva 1,731 posts since
Oct 10, 2007
4. Re: In need of a business loan Dec 27, 2007 11:10 AM
Not trying to be a spoil sport here...but what about the 2 trucks that are down? Are arrangements beign made to repair them? Have you contacted a shop and asked about repair credit?

Transportation fleets....trucks or aircraft have to be maintained and people trained in how to use the equipment. Aircraft engines get burned up by pilots mismanaging them in flight so I can feel your pain about the driver who just kept on driving....

Before I went looking for more money I would be making some operational changes as well and then decide HOW I wanted to proceed.
Click to view loan guy's profile Mogul loan guy 114 posts since
Dec 20, 2007
5. Re: In need of a business loan Dec 28, 2007 12:15 AM

bhootervilee,


I have work with trucking companies in the past. You have a few options I would like to discuss with you regarding equipment loan and unsecured line of credit. email me at cory@walkerlender.com

--phoenixfinancialpartners.com

Click to view bhooterville's profile Professional bhooterville 7 posts since
Dec 26, 2007
6. Re: In need of a business loan Dec 29, 2007 11:56 AM
in response to: CorpCons08
Please send name and contact number. I really want to here about you and your Company.
Click to view bhooterville's profile Professional bhooterville 7 posts since
Dec 26, 2007
7. Re: In need of a business loan Dec 29, 2007 11:57 AM
in response to: Small Biz Wiz
Thanks, I'll check it out.
Click to view CorpCons08's profile Mogul CorpCons08 1,128 posts since
Nov 14, 2007
8. Re: In need of a business loan Dec 29, 2007 11:59 AM
in response to: bhooterville
I sent you an email, did you receive it?
If not, I can resend it again.

CC08
Click to view bhooterville's profile Professional bhooterville 7 posts since
Dec 26, 2007
9. Re: In need of a business loan Dec 29, 2007 12:02 PM
in response to: CorpCons08
It was only a page with your email information. Could you please send re-send it.
Click to view CorpCons08's profile Mogul CorpCons08 1,128 posts since
Nov 14, 2007
10. Re: In need of a business loan Dec 29, 2007 12:03 PM
in response to: bhooterville
I will resend it right now.

CC08
Click to view bhooterville's profile Professional bhooterville 7 posts since
Dec 26, 2007
11. Re: In need of a business loan Dec 29, 2007 12:16 PM
in response to: CorpCons08
Got it. I just sent you an email.
Click to view Dereshki's profile Mogul Dereshki 44 posts since
Nov 29, 2007
12. Re: In need of a business loan Dec 29, 2007 2:44 PM
If your co-signer have a SSN, and good credit profile, it's easy like HELLO. You can try to do that with BofA. It's a good bank for smallbusiness. However i think he could have better produce, if they policies are rewieved.
Click to view CorpCons08's profile Mogul CorpCons08 1,128 posts since
Nov 14, 2007
13. Re: In need of a business loan Dec 29, 2007 3:05 PM
in response to: bhooterville
bhooter,

It was a pleasure speaking to you today.
I think we are on the right track and are going to be able to help you.

Look forward to speaking to you soon.

CC08
Click to view bhooterville's profile Professional bhooterville 7 posts since
Dec 26, 2007
14. Re: In need of a business loan Jan 1, 2008 3:26 PM
in response to: CorpCons08
Please check your email for the cost of the project.
1 2 Previous Next

Most Recent Forum Posts

Legend

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