International Leasing & Asset Finance Network
Inventory Line Request
It seems that several large players are exiting the business of financing inventory for Dealers. Below is an example of a request that I am working on . Any interested parties please call me or email.
Ray Bradley
AMOUNT: $1,200,000.00 – Inventory Line of Credit (Replacing Textron)
INTEREST RATE: Libor or Prime Based Floating Product
TERM: Annual Renewal
BUY BACK JayCo Incorporated currently provides a repurchase agreement for a total of 365 days per unit. There is a curtailment schedule that begins after 120 days @ 2% per month.
LESSEE: RV Dealership in Tennessee, USA
GUARANTOR: Owner (100%)
(As of 12/2/08) Owner reports total assets of $2.7MM, including $95M of cash and marketable securities and $2.6MM of Real Estate. His Net Worth is $620M with total debt ($2.0mm) consisting primarily of mortgage notes.
SECURITY/COLLATERAL: Specified Camper/Trailer inventory purchased from manufacturer as well as $200,000 of line used to purchase recent model units at auction for use as rental units with the ultimate payout being from sales of the units in Lessee’s normal course of business.
USE OF PROCEEDS: Inventory Line.
YEARS IN BUSINESS: The Company was founded in 1998 with operations consisting of the retail sales of new and used trailers to the public.
CREDIT: Owner reports a Beacon Score of 725.
APPRAISAL: All Equipment would be subject to review and appraisal by Lessor.
EXIT STRATEGY: Repayment will be from the unit sales and the profitable operation of the business.
INCOME: The business generated net income of $63K on revenues of $7.3 M for the 12 months ended December 31, 2007. For the 10 months ending October 30, 2008 the Company reported net income of $133K on total revenues of $7.1M , compared to the same period in 2007 when the Company reported net income of $153k on sales of $6.2M.
ADDITIONAL COMMENT: Company pays Line Bank as agreed.
Ray Bradley
AMOUNT: $1,200,000.00 – Inventory Line of Credit (Replacing Textron)
INTEREST RATE: Libor or Prime Based Floating Product
TERM: Annual Renewal
BUY BACK JayCo Incorporated currently provides a repurchase agreement for a total of 365 days per unit. There is a curtailment schedule that begins after 120 days @ 2% per month.
LESSEE: RV Dealership in Tennessee, USA
GUARANTOR: Owner (100%)
(As of 12/2/08) Owner reports total assets of $2.7MM, including $95M of cash and marketable securities and $2.6MM of Real Estate. His Net Worth is $620M with total debt ($2.0mm) consisting primarily of mortgage notes.
SECURITY/COLLATERAL: Specified Camper/Trailer inventory purchased from manufacturer as well as $200,000 of line used to purchase recent model units at auction for use as rental units with the ultimate payout being from sales of the units in Lessee’s normal course of business.
USE OF PROCEEDS: Inventory Line.
YEARS IN BUSINESS: The Company was founded in 1998 with operations consisting of the retail sales of new and used trailers to the public.
CREDIT: Owner reports a Beacon Score of 725.
APPRAISAL: All Equipment would be subject to review and appraisal by Lessor.
EXIT STRATEGY: Repayment will be from the unit sales and the profitable operation of the business.
INCOME: The business generated net income of $63K on revenues of $7.3 M for the 12 months ended December 31, 2007. For the 10 months ending October 30, 2008 the Company reported net income of $133K on total revenues of $7.1M , compared to the same period in 2007 when the Company reported net income of $153k on sales of $6.2M.
ADDITIONAL COMMENT: Company pays Line Bank as agreed.
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