need licensing coverage for min 2 years for financing- best method to find? thx - Paint Talk - Professional Painting Contractors Forum
CLICK HERE AND JOIN OUR COMMUNITY TODAY, IT'S FREE!
Go Back   Paint Talk - Professional Painting Contractors Forum > Painting Forum > New Member Introductions

Reply
 
Thread Tools Display Modes
Old 05-09-2017, 01:41 PM   #1
Junior Member
 
Join Date: May 2017
Posts: 2
Rewards Points: 4
Thanks: 0
Thanked 0 Times in 0 Posts
View Orlando1's Photo Album My Photos
Default need licensing coverage for min 2 years for financing- best method to find? thx

I am opening a Florida office for a California building contractor, and would be extremely appreciative and grateful for any guidance or advice from anyone on this forum. Our financing partners, Wells Fargo and GE Cap, require the license, (Florida does not recognize a Ca License, no reciprocity I discovered quickly), to be 2 years old. I went through licensing process to establish and qualify us in Florida, and run the company's production- but it appears we, and I, may need a qualifier for a period of 2 years before our lending partners (or at least 2 of them), to work with our account. If anyone here knows the best approach to finding, evaluating, pricing, a qualifier, please let me know. Additionally, if anyone on site has any input or guidance, or knows someone who might be suitable, or have any advice, I would be extremely grateful. Thank you!

Thomas
Orlando1 is offline   Reply With Quote

Warning: The topics covered on this site include activities in which there exists the potential for serious injury or death. PaintTalk.com DOES NOT guarantee the accuracy or completeness of any information contained on this site. Always use proper safety precaution and reference reliable outside sources before attempting any construction or remodeling task!

Sponsored Links
Advertisement
 
Old 05-09-2017, 05:13 PM   #2
A Brush Above
 
Paradigmzz's Avatar
 
Join Date: May 2010
Location: College Station, TX
Posts: 4,669
Rewards Points: 2,614
Thanks: 4,681
Thanked 3,578 Times in 1,863 Posts
View Paradigmzz's Photo Album My Photos
Default

What field are you in?

Financing for what?

If you already have lending institutions shouldnt it be based on the parent company or are you a franchise?


Simple answer on here is it doesnt take much to be a painter but if you are trying to run subs then the cashflow is what your looking for?

Im assuming your not a painter and if you are is your model larger scale contracts? Vendors such as paint and material suppliers can give you net 30 or set by job longer-


Are you trying to rent/buy/build? What do you need financing for?


Need more info to even attempt a qualified answer.
__________________
Quote:
Still waiting to see if this "internet thing" is going to take off......
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Quote:
I wouldn't worry about it.This internet thing aint gonna last
Paradigmzz is offline   Reply With Quote
Old 05-09-2017, 06:27 PM   #3
Senior Member
 
Stretch67's Avatar
 
Join Date: Oct 2013
Location: MN
Posts: 1,133
Rewards Points: 668
Thanks: 582
Thanked 863 Times in 418 Posts
View Stretch67's Photo Album My Photos
Default

Sounds like a residential GC? You need some capital to put in a development in Florida. Or even just to finance some spec houses till they're sold?

Your about knee deep into the project when the bank informed you that you need two years existing Florida GC license for them to finance a project in Florida.

So you looking to partner up with someone. They provide the license, you provide the financing and business systems. Basically renting a GC license.

Right?

Sent from my SM-G930T using Tapatalk
__________________
I got a post hole digger too! What's that got to do with the weather?
Stretch67 is offline   Reply With Quote
Sponsored Links
Advertisement
 
Old 05-09-2017, 09:39 PM   #4
Senior Member
 
lilpaintchic's Avatar
 
Join Date: Jul 2014
Location: Blue Marble, Earth
Posts: 4,010
Rewards Points: 5,006
Thanks: 3,702
Thanked 1,897 Times in 1,217 Posts
View lilpaintchic's Photo Album My Photos
Default

Tree-fiddy.

Sent from my SM-G930V using Tapatalk
lilpaintchic is offline   Reply With Quote
Reply

Tags
licensing, qualifier, qualifying

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT -4. The time now is 01:15 PM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
Content Relevant URLs by vBSEO 3.6.1
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.
User Alert System provided by Advanced User Tagging (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.
Our Pro Sites Network
ContractorTalk.com | DrywallTalk.com | ElectricianTalk.com | HVACSite.com | PlumbingZone.com | RoofingTalk.com