Transportation is the backbone of many businesses, but transportation equipment can also be a big budget investment for many. Transportation financing is an excellent financing option for small and mid-sized commercial and transport companies so that you can keep your working capital for emergencies and unforeseen expenses.
Expand your business by increasing the fleet, offer faster and better services and be ahead of the curve by upgrading. Transportation finance provides capital to purchase vehicles for your business and the vehicles themselves act as collateral for your loan.
Why transportation financing?
- Buying and maintaining transport equipment is expensive.
- Transportation financing offers an opportunity to bring in vehicles without major expenditure and build your credit
- It is an optimum solution to free up your working capital for most small and mid-size businesses.
- Transportation financing allows companies to plan their way ahead and expand by upgrading.
Who qualifies?
- You are in business for 12-18 months
- Credit history of the customer
- Annual revenue of $ 96000 or more (of the business)
- Nature of transportation equipment required
- Length of the loan or lease term
- In some cases, your tax and profit and loss statements help you take that big leap
To know more fill this Transportation financing Form or get in touch with us on (877) 659-3421 to talk to our experienced financial consultants for further clarification.
Quick and Easy
Transportation Financing in 3 steps.
STEP 1 – Fill up a simple transportation Financing application. For financing on $5,000 to $500,000 and above which we may require your financial data as well as a business plan.
STEP 2 – We check, verify and process your application and notify you within 24 to 48 hours of you submitting the application and documents.
STEP 3 – You receive your loan, lease or line of credit amount within 48-72 hours.
Benefits of Transportation Finance
- Serve a larger customer base in a better way with your high quality, state-of-the-art vehicles
- Evaluate your company needs and keep it more economical by repairing vehicles instead of purchasing new ones.
- Keep your cash flow as working capital for more paramount issues
Know more about types of transportation financing
Choose from the following three options when you consider purchasing vehicles for your business
- Transportation Loans
The term may vary between 1 – 6 years and once paid up, you own the vehicle and are free to sell it. - Transportation Lines of Credit
This is an excellent option for companies who need to purchase fleet of vehicles or have a continues need of funding for vehicles. A credit line helps you to borrow at anytime against it and you pay up for what you have borrowed. - Transportation Leases
Leasing the vehicle has its advantage as you spend less up front and do not have a loan to pay up. You are not left with a highly depreciated asset and valued at a fraction of what you have paid.
