Secure the Financing You Need to Grow Your Trucking Company
The demand for business in the transportation industry, such as trucking companies, has been steadily increasing in recent years. Manufacturers and distributors are now relying on trucking companies to deliver their products more than ever before. Don’t yet own a trucking company? Here are 10 tips on starting a trucking company as well as a helpful guide on how to start a trucking company.
While this increase in demand ultimately means great things for those in the trucking industry, it can be difficult to meet the client’s evolving needs without expanding the company. And expanding means hiring more employees, purchasing more equipment, and investing in training, amongst other trucking business expenses. These costs can add up quickly and are impossible to cover if your trucking company doesn’t have the necessary funds on hand.
But when you secure financing with Your FundingTree, you’ll be able to invest your funds into expansions and improvements that allow you to keep up with the constant increase in demand throughout the transportation industry. Not only can these funds help you sustain your company through trying financial times, but you’ll also be able to put yourself ahead of the competition by taking advantage of our semi-truck financing solutions.
Make the Most of Your Time
If you know you need to secure funding for your trucking company, your first move is most likely going to the bank to discuss your options. But going to banks to apply for funding is a stressful and time-consuming process that ultimately drains your resources. And when you own a trucking company, you know how valuable your time is, and how important it is to spend every minute of it wisely.
While you may have thought about consulting a direct lender to learn about commercial truck loans, they can have higher interest rates, less attractive terms, and overall lower quality of customer service than the banks that offer similar financing options. Plus, when you start adding more lenders into the mix, you’re only making the funding process longer and more convoluted for yourself. And you know you don’t have the time or energy to waste on that.
When you use Your FundingTree to secure funding for your trucking company, you’ll be saving time and energy by letting us do all the hard work for you. All you need to do is complete the simple no-obligation application.
One Simple Application – Get All the Answers to Your Commercial Truck Financing Needs
Applying for trucking business loans through banks or direct lenders means you’ll need to fill out a slew of multiple applications – one for each individual lender. Filling out the same information over and over again when you don’t even know if you’ll get what you need in the end is a time-consuming and tedious process.
But you can avoid the hassle by applying for a trucking business loan with Your FundingTree. When you apply with us, there’s one simple application that only takes a couple of minutes to complete. Here, you’ll be able to provide all the information lenders need to know to put together a customized offer for your trucking company. On the application, you’ll let potential lenders know that you are in the transportation industry, as well as provide a little more information about your trucking company We take care of the rest.
The Best Funding Solution for Trucking Companies
At Your FundingTree, we give you access to our vetted network of the best lenders who work with businesses in the transportation industry, giving you access to industry professionals who understand your trucking company’s unique challenges. From the daily routines to upgrading semi-trucks and expanding your fleet, these lenders know exactly what your trucking company needs to evolve and thrive in a demanding market.
Our expert team of financial advisors will thoroughly review your application so they’re able to match you with the best semi-truck financing options that are available in order to meet and exceed your trucking company’s needs. Soon after your application has been submitted, you may receive as many as five separate offers from lenders who work with trucking companies.
You’ll then be able to work alongside your financial advisor as you review each individual offer. They’ll be able to answer any questions and break down the terms of each one, so you can select the best funding option for you, and your trucking business.
Once you make a selection and your trucking company has been approved for funding, you may be able to begin working with your new lender as soon as the next business day.
Ready to apply for semi-truck financing? Complete our no-obligation application now!
Our Services are Always Free for Trucking Companies
We never charge for our services at Your FundingTree and exploring our business funding options is always free. We don’t collect any form of payment information at any stage of the application process, so you’ll never need to stress about hidden fees or surprise charges.
All you need to do is complete the free 90-second application to begin the process. And soon, you’ll have a selection of funding proposals waiting for you to review from lenders who specialize in financing trucking companies.
Your Credit Score Won’t Be Impacted
The application to fund your trucking business through Your FundingTree does not collect personal information such as your date of birth or social security number. And that means we don’t have the ability to run a personal credit check.
You can apply knowing your credit score won’t be impacted by new hard inquiries on your personal credit report.
No Need to Create an Account for Commercial Truck Financing
Sometimes it seems like every website you visit wants you to create an account. But the truth is, most people don’t want more emails cluttering their inbox or any extra passwords to keep track of. And that’s why we never require business funding applicants to create a new account with Your FundingTree. All you need to do is take a couple of minutes to complete the application and wait for your offers to arrive – it’s really that simple!
Semi-Truck Financing for Trucking Companies
At Your FundingTree, we know how the needs of different trucking companies can vary. And that’s why we’re able to help you secure various types of funding to match the needs of your unique situation. The types of semi-truck financing that are available for your trucking company include:
- Accounts Receivable Financing: As an owner of a trucking business, you rely on your clients to pay their invoices on time so you can have a consistent and reliable cash flow. And when clients fail to pay those invoices, your financial situation can suffer. Accounts receivable financing can help to ease the stress by giving you the opportunity to sell any unpaid invoices at a discount to receive cash quickly.
- Asset-Based Lending: Typically structured as a revolving line of credit, asset-based lending will allow your trucking company to borrow against its own financial assets.
- Bridge Loans: If your transportation company is in need of quick cash, a bridge loan can be a short-term solution for sustainability until you’re able to acquire a more permanent semi-truck financing solution.
- Business Line of Credit: As a revolving line of credit, your trucking company can use a business line of credit to fund any general needs for working capital. This can include a wide array of expenses, such as the cost of owning and maintaining a fleet of semi-trucks, inventory, and administrative costs.
- Debtor-in-Possession (DIP) Financing: If your trucking company has filed for Chapter 11 bankruptcy, debtor-in-possession financing can allow you to remain in control of your assets while the restructuring process is in place.
- Equipment Financing: As a transportation company, you rely on your equipment to get the work done. You’ll need to maintain and update your fleet on a regular basis, and those costs can put a strain on your finances. But an equipment financing loan can help ease the burden by allowing you to purchase just about any type of business-related equipment your trucking company might need.
- Invoice Factoring: When unpaid invoices begin to pile up, it can put a serious strain on your trucking company’s financial health. Invoice factoring uses unpaid invoices as collateral to give you the cash you need to sustain the growth of your business.
- Payroll Funding: As the backbone of your business, your employees are essential to your transportation company’s overall success. And in order to keep employees happy and reliable, you’ll need to see that they’re regularly paid on time. Payroll funding can help you get the cash you need to pay your employees if your trucking company is potentially facing a tight financial situation.
- Purchase Order Financing: As your trucking company begins to take on work for larger and more demanding clients, you may find that you don’t have the money you need to invest in the resources required to get the job done. With purchase order financing, a type of commercial financing, lenders use your client’s purchase orders as collateral. This means that the financing decision is based on the client’s financial situation as well as your own which can make this type of funding for trucking companies an ideal solution for young and expanding businesses.
- SBA Loans: Several different loan programs are available to new and growing businesses by the U.S. Small Business Administration. This type of funding may be ideal for your trucking company if you’re in the early stages of business and in need of financing to sustain you through your growth.
- Term Loans: If you’re interested in receiving a one-time lump sum to help fund your trucking company and repaying the amount over time in installment payments, a term loan may be what your business needs.
If your company requires trucking business loans for growth or for sustainability, Your FundingTree can help you find the ideal match. You’ll be able to work alongside an experienced financial advisor who will match your application with lenders who work with transportation companies and will help you decide on the best funding solution. We have more loans available in addition to the ones listed here!
Contact us today at 888-782-0348 to learn more about what Your FundingTree can do for your trucking company!
Our 2-Minute Loan Application for Trucking Companies
You only need 90-seconds to complete our no-obligation business funding application to see the options available for your trucking company.
You can begin building a sustainable and successful business today by acquiring the commercial truck financing you need. All you need to do is provide some basic information about your trucking company, the type of loan you’d like, and your desired amount. From there, we take on the rest of the legwork for you!
Don’t waste your valuable time by talking with countless lenders and completing numerous applications when you can get the answers you need in under two minutes. We’ve made the application process as easy and quick as it can possibly get, so you can put your effort into running your trucking business. After applying, we’ll show you several quotes from the best lenders who finance trucking and can give you expert advice to help you pick the best option.
Ready to elevate your company with trucking business loans? Apply now!
The Semi-Truck Financing Process is Simple
Step 1: Complete Your Application
Our business funding application is free of charge and comes with no obligations. The application will only take you a couple of minutes to complete, and you’ll be able to provide all the crucial details about your trucking company that will allow us to find the best lenders for you.
Step 2: We Review Your Application and Identify Lenders Who Fund Trucking Companies
Once we receive your application, a Your FundingTree expert financial advisor will get to work reviewing your information and identifying potential lenders. We’ll make sure the best possible matches are made by choosing lenders who specifically work with businesses in the transportation industry and who can offer exactly what your trucking company needs.
Step 3: Review Your Quotes to Fund Your Trucking Company
After we’ve matched you with the best possible options, you’ll receive up to five offers from lenders who work with trucking companies. You’ll then be able to review the offers, rates, and terms to see which lender is the best match for your business. A financial advisor will also be available to help you understand all the details.
Step 4: Decide Which Commercial Truck Financing Loan Proposal is Best
Once you’ve had a chance to review each offer, you’ll be able to make an educated decision on which lender best meets the needs of your trucking company. After you’ve accepted the offer and have been approved, you could start funding with them as quickly as the next business day.
Your FundingTree is Where Trucking Companies Find Funding
Banks and direct lenders work through Your FundingTree to compete for the business of funding trucking companies across the country. This means customers get access to the best rates, terms, and customer service for our semi-truck financing solutions.
We’ve made news on all the top networks like ABC, CBS, NBC, and FOX for our commitment to helping businesses grow and evolve. And our A+ rating with the Better Business Bureau just goes to show how much trucking company owners love what we’ve been able to do for them and their business.
What Do Our Semi-Truck Financing Services Cost?
The big rig lending services we provide are always free. Your FundingTree will never charge you to process an application. However, the rates and terms trucking financing companies offer you will depend on the information you provide to them on your application and their own business practices.
Your FundingTree takes pride in connecting you with professional and respected lenders who are easily able to offer trucking companies attractive semi-truck financing offers. Fill out the 90-second application or call us today to learn more about how we can help!