A Florida-based father and son transportation company providing short haul for local grocery stores since 2000. The company has three 1099 employees and part-time bookkeeper with Gross revenues of $374K with modest profitability and low debt.
Customer recently purchased two power units and now needed two reefer trailers to put the units to work and pick up more revenue. Gross revenue for the company is low and a little shy of our minimum preference in addition to showing some slow pays, and poor personal credit with limited depth.
The nature of their service (short-haul produce), length of time with their customer base and father-son dynamic helped us get comfortable with this approval for 2 ’07 reefer trailers. The customer signed up for a $38,276.00/36 month deal including a 20% Security Deposit. The story…the people…made the difference.