Are you the owner of a commercial trucking company in need of quick business funding? As you may already know, cash is premium in the trucking industry but banks and other traditional money lenders are not the best sources for funding, especially in an emergency situation. Read on to know why hundreds of business owners have found merchant cash advances helpful for commercial trucking company funding.
Quick Funding To Finance Business Activities
There are many situations where you may require quick and easy commercial truck business financing. For example, you may want to add more trucks to your fleet, scale up your warehouse, add additional routes, commission routine maintenance/repair activities, maintain a staff of competent and professional drivers, or pay for emergency repairs and spares. Many of these activities help business owners improve services and grow. However, accessing quick and easy funding is easier said than done – especially for smaller trucking businesses – even if your company is generating strong business revenues.
Simple Processes for Application and Fund Dispersal
Commercial trucking companies greatly contribute to the US economy. However, banks and other traditional money lenders consider them to be high risk. Moreover, procedural delays are a hindrance to obtaining quick and easy commercial truck business financing when business owners need funding the most. A merchant cash advance is an excellent alternative funding solution for established trucking business owners who need cash quickly and easily. The application process for merchant cash advance takes just a few minutes and as long as you can show healthy business revenues, you have a high chance of getting approval for funding. The funding amount is typically wired to your business bank account within four to seventy two hours and you are free to use the amount for any upfront business expense.
Often Come With Flexible Repayment Terms
A trucking business cash advance is unique in many ways. For one, approval is based on historical business revenue and not credit score. Also, you don’t have to put up anything as collateral which a bank will most certainly ask you for. Merchant cash advance is more like an advance on future receivables and comes with a flexible repayment structure. You may be able to pay back the amount more quickly or slowly depending on receivables. If you have more revenue coming in, you can remit the advance more quickly and if you’re having a slow season, you can pay back the money slowly.
Available To Businesses of All Sizes
Trucking business cash advance is a great financing solution for small owner-operators and independent contractors who do not have the resources of large commercial trucking companies. Larger companies may be able to put up the collateral that banks and other traditional money lenders require or they may be able to absorb downtime due to their large fleet. Merchant cash advance allows small owner-operators and independent contractors to stay competitive in the industry and make plans for growth. However, this does not mean that large trucking companies cannot access merchant cash advance. The best merchant cash advance companies offer financing to businesses of all sizes.
For best outcomes, turn to an experienced provider offering quick and easy trucking company funding!