Commercial
Truck Loans
Whenever most of us think of borrowing money for a vehicle,
we immediately picture paying for something that depreciates immediately. The
need to get around overrides that urge to avoid making such an investment.
However, commercial truck loans are an entirely different story.
The commercial vehicle loan is designed as a type of
business loan that serves to help you finance your company endeavors. The
trucking industry is very lucrative and these vehicles serve a profoundly
important purpose that keeps the economy moving, quite literally.
Appeal of
the Trucking Industry
The trucking industry is very appealing because it is a
fundamental building block in countless businesses. Consider how many
professionals and corporations depend on truckers to get their products and
information where they need to go.
This industry touches a plethora of other industries in one
way or another from grocery stores to retail establishments to hospitals. A
large part of the trucking industry’s success is in the hands of commercial
truck loans.
The trucking trade is large enough that it can attract
capital from investors, banks and leasing agencies. These resources are eager
to help this lucrative trade by putting up the money necessary to help you in
your endeavor. Many of these organizations see this as a sound investment.
Starting a
Trucking Business
You are willing to get your business on the road. You know
that this is a promising field and that there are commercial truck loans
available at your fingertips if you are well prepared. Part of the preparation
process lies in creating a business plan for your endeavor.
The business plan may seem pretty obvious. Buy a truck.
Transport goods. Repeat. However, you have to take a lot of other things into
consideration as well. What products will you be shipping and for whom? Do you
already have a plethora of clients waiting in the wings or are you going to
have to do some footwork to get things started?
How many trucks will you need? Will the commercial truck
loans be funding a single vehicle or will there be an entire fleet of trucks in
your company? The difference can be several thousand dollars for the lender. A
clear business plan will outline your intentions.
Types of
Commercial Truck Loans
Just like any tool for financing, the commercial truck loans
come in a number of different forms. Leasing tops the list as the most
convenient form of financing for this kind of endeavor. Many choose this route
in the very beginning of their trucking careers.
Startup commercial truck loans are typically adopted by
small organizations just getting ready to begin their new endeavors. Used
trucks can also be financed for a fraction of the cost. However, it is
necessary to consider maintenance with these vehicles in many cases. Then, there is a great option to consider the "iSmallBiz Trucking Cash Advance. "
The "iSmallBiz Trucking Cash Advance", is a cash advance in which the business owner gets a up front capital on their future gross sales. This type of advance is paid off by the borrowing company paying a fixed micro payment until the agreed upon amount has been paid back to the advance company.
The "iSmallBiz Trucking Cash Advance", is a cash advance in which the business owner gets a up front capital on their future gross sales. This type of advance is paid off by the borrowing company paying a fixed micro payment until the agreed upon amount has been paid back to the advance company.
For example – Jose Trucking gets an advance of $10,000, and
they agree to pay back $12,500. The advance company then takes a fixed
percentage (typically 2-3%) of the average daily balance until the business has
paid back the agreed upon $12,500. The cash advance is not driven by credit or
collateral. The advances are based upon the trucking company monthly gross
revenue (bank statements). This makes the Trucking Cash Advance product
one of the most cash flow friendly products available today!
Charles Colbert is a Managing Director of iSmallBiz and Ismallbusinesscredit.com, a Financial Technology Platform that allows small business owners to obtain the best possible financing at the lowest possible cost.
Leveraging his experience & education, Charles currently partners with growth stage companies who are in need of creative financing solutions to help them grow. In his efforts to help the small business community, Charles has also created video courses, webinars and articles to help educate entrepreneurs & CEO’s, and guide them to success. He can be reached by telephone at 973-619-2320 by email: charles@ismallbusinesscredit.com.
Website: www.ismallbusinesscredit.com
Leveraging his experience & education, Charles currently partners with growth stage companies who are in need of creative financing solutions to help them grow. In his efforts to help the small business community, Charles has also created video courses, webinars and articles to help educate entrepreneurs & CEO’s, and guide them to success. He can be reached by telephone at 973-619-2320 by email: charles@ismallbusinesscredit.com.
Website: www.ismallbusinesscredit.com
LinkedIn: www.linkedin.com/in/ismallbiz
Facebook Fan Page: www.facebook.com/pages/Ismallbusinesscredit
Twitter: @ChazzScot
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