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How to Solve Your Problems with Commercial Truck Financing

Posted by Alan Brown on Oct 5, 2017 5:25:04 PM

commercial truck financing

 

Are you looking into commercial truck financing but unsure if it is the right fit for you? Here are a couple success stories that confirm commercial truck financing can change your company.

 

A successful towing company recently experienced an increase in new business. With their newfound reputation, they were closing many large contracts. However, the company did not have an adequate amount of trucks to fill the increase in requests.

 

Eventually, the business owner came across commercial truck financing as an option to aid in expansion. They learned that they could receive the funds they needed in order to add to their fleet of tow-trucks without having to reach into their own pocket. Thanks to commercial truck financing, they were able to meet demand and continue expanding.

 

Another success story involves a trucking company. They use large trucks to move multiple vehicles from one place to another.

They have a steady influx of business and out of nowhere, the company trucks began to break down. The owner knew right away this was because the trucks were at least 10 years old.

 

Which is Better for Your Business: Buying or Leasing? Let Us Show You!

 

Having multiple trucks out of commission hindered business and they began to lose money. The company soon decided it was time to invest in new trucking equipment. The were quickly approved and able to begin replacing the old vehicles right away. As a result, they were able to serve customers more consistently. While revenue increased, costs decreased because they were no longer paying for monthly repairs.

 

You've decided on Commercial Truck Financing.

Now what?

Once the decision is made to purchase a new vehicle, you must approach a lender to discuss financing options.

 

Which Factors Contribute to Success?

Time in business

The longer your company has been in business, the more data there is to show finance history. (Alternative financing methods are available for new businesses, as well.)

 

Credit rating

The better your credit score, the easier it will be for you to obtain a loan. But there are still financing options for bad credit.

 

Revenue

It is very important for lenders to see that you generate revenue on a regular basis.

 

Relying on a Lender to Help Grow Your Business

CMS Funding works with businesses of all shapes are sizes. If you have bad credit or haven’t been in business for too long, don’t give up. Give us a call so we can analyze your business and help you meet your financial goals.

Topics: Commercial Truck Financing, Business Loans, Equipment Financing, Equipment Leasing

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