Loan Prep & Packaging
Included with: All CORE Membership levels
Service type: On Demand
Borrow and Build
Getting a loan can be a game changer for your business, but the process can feel overwhelming. That’s where our on-demand Loan Prep service comes in. We help you get all your ducks in a row so you can apply for a loan with confidence. From gathering essential documents to strategizing your loan application, we’ve got you covered. No financial jargon, just step-by-step guidance to help you secure the funding you need to grow your business.
How Loan Prep & Packaging Works in the CORE
Not sure if buying that new equipment is a good idea? Run it by us and you can be sure we will give you give you honest and unbiased feedback. Sometimes, all you need is a second opinion to make crucial business decisions. Use us as a sounding board to bounce off ideas or strategies. We provide an outsider’s perspective, grounded in industry expertise, to help you make well-informed decisions..
Long-term success requires a well-thought-out strategy. We’ll assist you in formulating a strategic plan that aligns with your business goals. This plan will serve as a roadmap for growth, helping you to allocate resources efficiently and make smarter business choices.
Business owners get used to doing everything alone. But having someone is there who’s got your back can alleviate a lot of the stress that accompanies running a trucking business. A strong team can help of trucking operation perform better (especially owner operators). Our collaborative approach ensures that we’re all on the same page, driving your business forward. Our team is your team. We are in this together!
Lending/Funding Consultation
Your journey to secure a loan starts with an in-depth lending consultation. Here, we evaluate your specific needs and guide you through the lending landscape, helping you understand the types of loans that would be most suitable for your trucking business. Important Note: We strongly advise all our clients not to engage with any loan brokers. Many previous clients have fallen into problematic financial situations due to unscrupulous loan brokers, leading to high payments and fees that cripple their cash flow. The beauty of being a member of the CORE Club is you can always be confident that we have your best interest in mind for every single financial transaction.
Document Collection
One of the most cumbersome aspects of securing a loan is gathering all the required documentation. We streamline this process for you, providing a checklist of needed documents and assisting you in gathering and organizing them effectively. This sets the stage for a successful loan application. In fact, most of the time we already have these documents on file for our CORE Club members.
Financial Review
Before proceeding to the loan application, a comprehensive financial review is performed to assess the health of your trucking business and make sure you are hitting all the marks. This involves examining your P&L statements, balance sheets, and cash flow. This review is crucial for identifying your loan eligibility and for tailoring a loan strategy that aligns with your business needs.
Loan Strategy
Based on your financial review, we formulate a loan strategy tailored to your business. This will involve selecting the best loan type, amount, and terms that are both achievable and sustainable for your business. We ensure that the strategy fits within your financial landscape to avoid any future complications. To note- a lot of the CORE Club services work together, and loan strategy in particular is dependent on a few others to strengthen your application (ex. credit).
Accessing Our Lender Network
We connect you with our extensive network of trusted lenders who are experienced in your specific industry. This increases your chances of securing a loan with terms that are favorable to you. Note: We strongly recommend staying within our lender network to avoid the pitfalls that come from dealing with inexperienced or predatory loan brokers.
CORE Consulting has an extensive network of lenders covering every conceivable business loan/funding type. This includes lenders focused in: SBA, Term Loans, Lines of Credit, Equipment Finance, Short Term Funding, and even Personal Loans. In many cases our relationships go back decades with some partners. And as a preferred partner, our applications are given consideration because we are underwriters ourselves.
Application Assistance/Submission
Once the strategy is set and the documents are in place, we assist you in filling out and submitting your loan application. Our expertise ensures that the application is accurate, complete, and presents your business in the best light, increasing the likelihood of approval. This process is most important for SBA and bank term loans, where applications have to be absolutely flawless before they sent in.
Follow Up/Closing
The loan process doesn’t end with the submission of your application. We diligently follow up with lenders, keeping you updated every step of the way, and assist in closing the loan, making sure you understand all terms and conditions before finalizing. In the even that an application is unsuccessful, we will already have discussed with you a back up plan (what we refer to as “Round 1, Round 2”, etc)
Frequently Asked Questions
Do I need to be a CORE member to apply for a loan?
No. Loan prep is something we do an a daily basis, for many truckers. CORE membership does however, come with advantages when applying for lending. This is because we will be a) intimately involved with your business, and b) often game planning loan submissions weeks or even in months in advance. This can result in loan apps for CORE members being stronger when they go off to lenders.
Can I get more than one loan?
You can get as many loans as your heart desires. However, CORE Club members also receive consultation from us, so we will make recommendations for how many makes sense.
Can I join CORE Club and cancel after I get my loan?
Sure. CORE Club membership can be cancelled (and also reactivated) at any time. All of your information will remain with us, and should you rejoin in the future we won’t need to begin the onboarding process from scratch.
Is my loan application sent all over the place?
No. This practice (called “shotgunning”) is a hallmark of inexperienced loan brokers, and is ill advised. It’s also bad for your credit as it results in numerous inquiries. While we may apply with more than one lender at a time, or at different times (colloquially referred to as “rounds” ), we are always still targeting specific lenders who we feel confident are a good match.
Are there any fees to apply?
No. While we do sometimes charge loan packaging/consulting fees for loan applications, as a benefit to CORE Club members, these fees are waived.
How long is the decision period?
For most types of funding, usually a few days. For larger bank term loans & lines of credit, it may take longer. For SBA loans, the decision period can be a month or more. It all depends on the size and complexity of the lending you are seeking.
Lender- Ready
CORE’s Loan Prep and Packaging service provides a meticulous, step-by-step approach to make sure your business stands out. By organizing and highlighting key financial strengths, we create a package that instills confidence in lenders, with comprehensive support for you from application to approval.
Dedicated Loan Partners
With access to an extensive network of reputable lenders, CORE helps you find the right funding options tailored to your needs. Our consultants connect you with reliable partners, ensuring your financing aligns with your business goals and sets a solid foundation for growth.
Explore All CORE Benefits
Discover the full range of support available through your CORE membership. All work together to provide comprehensive solutions for your business needs.
Let's work together.
Reach out to us for personalized consulting solutions tailored to the needs of your business.
— Phone
1.631.210.3627
— Address
1111 Broadhollow Road
Farmingdale, NY 11735 - USA