How To Get Money For Your Business Or A Business Loan

2015RangeRoverBlkHey Cool Car Fans,

As The Cool Car Guy, I am an automotive consultant for motor vehicles (like some of the sweet vehicle photos I included in this article), as well as auto loans. I also have the ability to broker business loans that I’ll be discussing in more detail below.  A number of my clients own businesses often times they will own a vehicle free and clear or they may have equity in a vehicle that they may want to use as collateral for a loan.  I’ve helped people get money out of their vehicles for a number of uses.

Some vehicles are easier to get loans against than others depending on the year, make and model of the car or truck.  Traditional lenders like to use the NADA or Kelly Blue Book value to place a loan against a vehicle as collateral, so that they have a third-party telling them what the vehicle is worth. 1967Corvette It can be more difficult with classic or custom cars because there are fewer lenders that loan money on these vehicles.  Most of the people who have me track them down these type of vehicles, like a 1967 Corvette pictured to the right, have arranged financing most of the time or are paying cash.

I’ve also had a number of people who will contact me each year, usually from a referral from their mortgage lender to refinance a vehicle that they have a high payment or higher interest rate on, so that they can reduce their debt to income ratio.  I can even turn their used vehicle finance into a lower lease payment, depending on the miles on the vehicle, year, make and model, which can help them get into a home or obtain financing for their business, when their debt to income ratio is too high to qualify for the financing they are looking to secure.

1959CorvetteWhich is why I decided to write an article about this topic here at, for clients who may be looking for business financing or for people surfing the web that are looking for creative financing options for their existing business.

Maybe someone owns a business and they have a chance to get an extremely rare, fully restored 1959 Corvette with 400HP and an LS2 Corvette Engine like the one pictured above.   I recently saw this one running through the dealer auction and a business owner may want a short term loan for $140,000, because they are pretty sure that the vehicle is going to be worth even more than that 5 years from now or they just gotta have it.

1959Corvette3Most of the time business loans can be difficult to get, even if you’ve been in business for a number of years.  I’ve teamed up with a company called David Allen Capital to be able to offer small businesses with the capital they need to grow their businesses.  By offering this service, I can build a relationship with a business owner and assist them with all of their automotive needs, whether it is fleet vehicles or their own personal vehicles.

How Do DAC Loans Work?

Unlike traditional banks, DAC judges the health of the business based on the cash flow – not just credit scores. They have an in-depth understanding of small business, that can enable a business owner to get a loan that they need to buy inventory, purchase new equipment or launch a marketing campaign.  In fact, these are true business loans – not merchant cash advances.  And they are loans that range from $10,000 – $500,000 and these are short term loans of 4 to 24 months in length.

1959Corvette2These are daily fixed micro-payments, so no worry about large monthly payments and an approval decision is typically in ONE BUSINESS DAY, with FUNDING in as FAST AS 3 BUSINESS DAYS.  Again, this is something that is not for everyone reading this article, but I wanted to write an article about it because I’m a broker for this company as well.

What Are The Minimum Requirements For Approval?

A business needs to be doing at least $100K or more in annual revenues, so they only loan to existing businesses producing cash flow today and have been in business at least  4 months and doing at least $10k per month in sales (showing as deposits in business bank accounts).

The amount they can get approved for is generally equivalent to monthly sales revenue.  And the amount they will have to pay pack is generally 1.2-1.3x what they borrow.  Example, $100k will usually have $120-130k payback over term of loan.  Loans are 4-24 month terms and generally average between 6-15 months.

What a business owner does with the money is up to them!  For example, if they are doing $200k per month as a grocery store, then they can borrow about $200k and use it to buy a house, buy a classic car from The Cool Car Guy, buy another store, remodel, invest in something else, pay taxes, etc. etc.

The most common uses are to purchase inventory or equipment, expand or remodel, purchase another business, launch a marketing campaign or hire additional staff.

DAC lenders have loaned over $10 billion to thousands of small businesses.  If you would like more information or to get started you can visit and simply enter in my name, John Boyd and my Broker ID: 100504507, so that they know that you came from my website and I sent you there.  You can get more information at that site and I would recommend checking it out if you’re looking for short term funding for your business.

If you’re a regular at this site or you’re just visiting and you know a business owner who may be in need of capital for their business send them to this article and have them check it out.  It’s simple and fast to qualify and see if their business is a fit for one of the lenders, who are looking to loan money to small businesses.

John Boyd

Auto Consultant – John Boyd: The Cool Car Guy

John is an auto consultant with his license at a car dealership in Denver, Colorado. He can help you save time and money on any make or model, new or used, lease or purchase – nationwide! Call or email John about your next vehicle! or Twitter @coolcarguy

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