Iron capital ?

Discussion in 'Trucker Taxes and Truck Financing' started by Sleeper413, Nov 29, 2017.

  1. Sleeper413

    Sleeper413 Bobtail Member

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    has anyone used iron capital out of New Jersey to finance their truck or start up?
     
  2. Silver Bear

    Silver Bear Bobtail Member

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    Iron Capital is a scam. Tried to hit them up for financing. I was pretty sure I wasn't going to deal with them but did it anyways, since they only do a soft pull and don't put an inquiry on your credit. They approved me for $40K, even though initially promised a $100K and wanted 15% "finder's fee", so I'd be getting a payout of $34K while paying 12% interest on a $40K loan. My credit score is 824, so obviously I laughed at the guy on the phone. Check out crowdfunding sites like Lending Club and Prosper, they are legit.
     
  3. biggi1996

    biggi1996 Light Load Member

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    Silver Bear was the $40k loan cash?
     
  4. Silver Bear

    Silver Bear Bobtail Member

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    Yes, with net payout of 34k.
     
  5. Sleeper413

    Sleeper413 Bobtail Member

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    White mountains
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    Yep scam for sure I tried and same deal they wanted me to pay them $9000 for a $30000 loan thanks for the input guys
     
  6. biggi1996

    biggi1996 Light Load Member

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    Sleeper413 Did they find you the capital and the $9000 was their percentage out of the money?
     
  7. p608

    p608 Heavy Load Member

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    Just for grins I just checked them out, my fico score is in the 800 range ( I don't pay too much attention to it) but their rates suck, if you have the score you say you do go to a bank and get a real loan.
     
  8. Silver Bear

    Silver Bear Bobtail Member

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    I was giving advice to the original poster who asked specifically about Iron Capital. I have no problems with cash flow or financing :)
     
  9. p608

    p608 Heavy Load Member

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    So you asked them for a loan with no intention of taking it?
     
  10. Silver Bear

    Silver Bear Bobtail Member

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    It was a while ago, found a much better source.
     
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