Business Loans And Knowing The Right Mechanic

Business Loans And Knowing The Right Mechanic

Huntington Beach, CA: My trip to the mechanic made me think about why it is important to have a business loan broker in your corner.

My car recently started misfiring and I took it to the local, large regional mechanic shop (name held anonymous out of professional courtesy) to have them take a look at it. This particular mechanic occupies a lot of space in a high rent district, offers coffee and cookies in the waiting area and an overall professional and sterile atmosphere. The mechanic bays where the specialists operate and solve problems for sick cars looks like it was created by Boeing itself.

After the expert diagnosis was delivered (my car needed new spark plugs and two ignition coils replaced) they provided the cost estimate. I thought to myself, “this is going to be steep” and I wasn’t disappointed. Total cost $682.17. Seeing that I need my car and can’t go more than a few hours without it, I reluctantly agreed. Their courtesy shuttle drove me home and would later pick me up.

When I returned to the shop, the mechanic came out and said, “your car is all done, but you really should replace the other ignition coils and your timing belt is showing cracks and can break at any second.” He went on to say, “the timing belt is a big expense costing roughly $1,200 and then of course the cost of the other coils would bring use to around $1,800 with labor.” I said I would bring it back as I needed to pick up my kids from school.

As I was driving to my kids’ school, my head still in a fog having gone through the surreal experience of knowing that you are not getting the whole story, but not having the knowledge to know for sure, I remembered my trusted Volvo mechanic. I went to this fancy mechanic because they can service the car the same day and I was in a urgent need to have my car back. Now that I had the time, I called my Volvo specialist and booked an appointment.

He replaced the timing belt and also took care of some other minor repairs that weren’t urgent but nice to have done (one of running lights was out, there was a slow leak in my right front tire, and an issue with the passenger side door handle). The short story was that all these repairs had a total cost of $365.00! This was the timing belt that was going to cost me $1,200 according to the fancy mechanic. By the way, the other engine coils didn’t need to be replaced and if they happen to misfire, you can take the car in at your leisure within 100-200 miles of running the car like that. Quite a different story than the high priced mechanic gave me.

Where am I going with this? I saved a few bucks and that is a great win for me personally, but what does it have to do with securing capital and business loans? A lot actually. You see, the high priced guys would never tell me about their competitor working out of a little industrial box charging 1/3 the cost. They would never tell me that replacing the other ignition coils wasn’t necessary (on the contrary, they urged me to). I saved a lot of money by remembering who else was out there, offering similar service and quality work for less.

Business owners in the market for equipment loans, purchase order financing, SBA loans or any other type of loan often enter the process blind. This exposes them to being taken advantage of and subject to convincing, yet biased, opinions of how to handle their funding needs. Direct lenders are experts at explaining the benefits of their financing, but would never tell you where to go to get a competitive quote.

As unbiased business loan consultants, we provide our clients with the confidence to explore their funding needs knowing that we, with our industry experience, knowledge and contacts, are working on their behalf. Do you know if you are about to pay three times more than you should? Is the loan structure being offered by your lender truly the best for your business?

Save yourself the time, energy and frustration of exploring your business loan options and leave it to us. We work with business owners and funding sources on a daily basis and have our fingers on the pulse of the debt markets. Give us a call and let us discuss your capital needs 714-719-8966

To your success,

Patrick Zazueta | Founder
Huntington Coast Capital, Inc.

Huntington Coast Capital Is Off To Its Best Start Ever In 2016!

Huntington Coast Capital Is Off To Its Best Start Ever In 2016!

2016 has started out in a full sprint for Huntington Coast Capital. Through the first four weeks of the year, we have secured $11,300,175 dollars in working capital business loans for our clients. This volume represents the fastest start of any year since our first full year in operation in 2011!

The loan mix was varied and breaks down as follows:

* $5,500,000 business loan for a distributor of private label pastas, spices, and mixes secured by the company’s accounts receivable and inventory.

* $3,200,000 construction loan for a ground up development project in San Diego, CA.

* $100,000 SBA loan for a product development firm.

* $500,000 business loan for a auto transportation company.

* $2,000,0000 business loan for an importer of suits and formal wear for men.

Huntington Coast Capital is pleased to have secured funding for these clients! In each case, the client was in need of a creative business loan to grow their business. The business loan options we brought to the table allowed them to realize the full potential of their company.

If your company could benefit from having a choice of business loan options to choose from, we would like to speak with you! We enjoy playing a small role in insuring that our clients succeed.

To your success!

Patrick Zazueta | Founder
Huntington Coast Capital, Inc.
714-719-8966

HCC Secures $750,000 Factoring Facility For A Coffee Importer

HCC Secures $750,000 Factoring Facility For A Coffee Importer

Huntington Coast Capital secured a $750,000 factoring facility for a coffee bean importer! The company was outgrowing its current lenders capacity quickly and needed a solution to meet the growth needs going forward.

The coffee, mainly beans imported from El Salvador, was experiencing huge demand from their existing and new customers. They needed a capital partner that could provide Letters of Credit and assist in speeding up their working capital cycle once the goods had been shipped to their customers.

Huntington Coast Capital moved quickly to find them the right solution to guarantee they had the funds they needed to take the business to the next level. We saved our client time, money and frustration during the process of finding a new lender.

Could your business benefit from additional capital? Call us! 844-239-2632. Unbiased Consultation. Proven Results.

HCC Now Active in Government Backed Business and Industry Loans

HCC Now Active in Government Backed Business and Industry Loans

Huntington Coast Capital is now offering Business and Industry Loans (B&I Loans) for rural communities.

The purpose of the B&I Guaranteed Loan Program is to improve, develop, or finance business and industry, create employment and improve the economic and environmental climate in rural communities.

Citizenship Requirement Individual borrowers must be citizens of the United States (U.S) or have been legally admitted for permanent residence. Corporations or other nonpublic body organization must be at least 51 percent owned by persons who are either citizens of the U. S. or reside in the U.S. and have been legally admitted for permanent residence.

An area must be rural to be eligible for the B&I Guaranteed Loan Program. A rural area is defined as any area other than a city or town that has a population greater than 50,000 and the urbanized area contiguous and adjacent to such a city or town. You can verify an address for rural area eligibility at http://www.rurdev.usda.gov/rbs/ and going to ERS-Rural Area Determination hyper-link.

Feasibility Studies are required for start-ups or if the project will significantly affect the borrower’s operation. Feasibility studies must be completed by a qualified independent consultant.

Collateral must have documented value sufficient to protect the interest of the Lender and the Agency. The collateral discounted value will normally be at least equal to the loan amount. Lenders will discount collateral consistent with sound loan-to-value policy.

For complete information on the program click this government website link: http://www.rd.usda.gov/.

For information on lenders participating in the program, visit us here.