Ambulance Service

Business Stage
Established Business
Industry
Service
Time In Business
14 Years
Employees
55 Full Time
Equipment Type
Titled Vehicle
Ticket Size
$30K - $50K
Equipment Details
2 Used Ambulances
Equipment Purpose
Current fleet is 25 ambulances, these two ambulances will be added to the existing feel as back up’s in the event that one or two of the existing ambulances breaks down.
Weaknesses (Cons)
  • Used equipment
  • Guarantor only had 5% available on his revolving credit limit
  • Guarantor takes all his income as distributions, not W-2 income
Strengths (Pros)
  • Owner had a strong net worth
  • Company had little debt and had other vehicles available which were owned free and clear
  • We took two ambulances as additional collateral (2007 and 2004)
Creative Solution
The age of the equipment and the low percentage available on the owner’s credit made this a decline with other lenders. During the interview it was discovered that the owner had another company that was profitable and several ambulances that he owned free and clear that he was willing to pledge as additional collateral.
Team Sales Rep
Martin Lacayo