In Need Of Quick Trucking Business Funding? Apply For A Merchant Cash Advance!

If you own or operate a trucking business, you know that the industry is a capital intensive one and you can have a hard time trying to access trucking business funding immediately. Merchant cash advances have emerged as a popular alternative to traditional funding solutions. Read on to learn if a cash advance is the right fit for your trucking company funding needs.

Quick Approval And Funding

There are many situations where trucking companies require fast working capital. However, banks and other traditional lenders consider trucking businesses to be high risk and are reluctant to provide trucking company funding – or they have lengthy, complex processes that fail to meet the immediate requirements of customers. On the other hand, companies that offer cash advances have a fast and hassle-free approval process – once you qualify and agree to the terms of the contract, the advanced amount can be in your account within hours or days instead of weeks.

Approval Based On Incoming Revenue

A cash advance is an attractive trucking company funding solution because cash advances are approved based on the business’s ability to earn and not credit score. Approval rates for cash advances are high and businesses simply need to furnish basic information about their business and revenues for the past few months to apply for a cash advance. A cash advance is a suitable trucking business funding solution for companies that have existed for six months or more and are witnessing healthy revenues. The ability to earn is important because a cash advance is repaid from a portion of future receivables that is to be remitted over time.

Trucking Company Funding
Trucking Company Funding

No Collateral And Flexible Repayments

Banks and other traditional money lenders may require collateral to provide a cash advance. This can put small trucking business owners who do not have significant personal assets in a difficult position. On the other hand, providers of cash advance do not require any collateral – so business owners who do not have personal assets to put up as collateral can also apply for a cash advance that too without any worry of losing their personal assets in case of failure to pay. Another great thing about a cash advance is that business owners have flexibility in repayment – they can pay less when business is slow and remit more when business is booming.

No Restrictions On Use Of Advanced Amount

Cash advance trucking funding for business owners can be used to cover daily expenses such as tolls and fuel costs. It can also be used to cover payroll in the lean season or hire additional drivers in peak season. Besides, a business that wants to grow will want to expand the fleet and ensure regular maintenance of its vehicles. The beauty of a cash advance is that there is no restriction on usage and business owners can use the advanced amount for any business-related purpose. Moreover, cash advance companies welcome funding requests of all sizes – from a few hundred dollars to thousands of dollars.

If you’re ready to give merchant cash advances a shot – just visit the website of a reputed cash advance provider and fill in a simple online application form!

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