Trucking companies in need of capital are considered a high risk to receive commercial truck financing and are often frowned upon by banks. Credit unions as well have difficulty providing financing for this industry. In addition, trucking business owners with bad credit or poor credit have no shot at receiving any sort of commercial funding from standard lending institutions – that is where Small Business Funding can help. We can get you a loan.
Small Business Funding will find commercial truck financing with its national alternative lender sources. We will help the trucking company owner receive a loan for the cash infusion they need to buy additional trucks, expand a warehouse, add additional routes, just about anything. This will in turn help increase revenues leading to growth. Maintenance is a big cost and often requires commercial financing. The high risk associated with funding this type of business is tied to the fact that often there is no brick or mortar establishment and the “office” is on wheels. Small Business Funding has lenders that look past this and perform their underwriting accordingly to take this into consideration for providing loans.
To apply for commercial truck financing for your company all you need to do is fill out our fast online business loan application. In addition, you will be asked for six months of your most recent bank statements. No collateral is required and you can receive a loan approval within 24 hours. A lot of times lenders ask for merchant statements from credit card processing but if you do not process credit cards no worries. So if you need help with cash flow now why not out about trucking company financing and whether you can be approved.
You can also utilize your truck titles as collateral to secure asset based financing. Usually this type of loan will give you a better rate and term as there is collateral that the lender has to hedge their loan. Any and all types of loans are provided by our lending partners regardless of credit. Please take the time to see how much commercial truck financing you can receive.