Trucking and logistics companies that have access to trucking business loans tend to have more financial flexibility. That means less idle time for growth-focused small trucking businesses, and more resources to invest back into the company. Additionally, remaining competitive in the long-haul trucking or shipping industry requires continual investments in your company.
The American economy succeeds thanks in large part to the trucking businesses that keep supplies constantly flowing. According to the American Trucking Association, more than 70 percent of all freight moved within the U.S. each year is ground shipped. The trucking and transportation industry employs millions of Americans and trucking business loans help fuel the hiring of drivers and operational roles the industry requires.
Our nation doesn’t move unless trucks are on the road. Since the trucking industry serves as a vital part of our economy, it faces high demand and stiff competition. Trucks require periodic maintenance, part replacements, equipment repairs, and payments for certifications. Additional costs include employee wages, fuel expenses, and licensing fees. The large costs associated with purchasing the vehicles and equipment needed can leave you drowning in debt.
Trucking business loans can provide you with funds to cover necessary business expenses. With a targeted short-term loan from a trusted lender, like QuickBridge, it’s possible to finance equipment purchases and other capital expenses to fuel growth. Additionally, working capital loans for truckers can supplement cash flow during lean times and provide coverage in a financial emergency. No matter how they are used, trucking business loans need to be delivered quickly and with pinpoint precision – not unlike the shipments made by drivers every day.
There are many different sources for business financing, but not many meet the needs of the trucking industry. Traditional lenders tend to shy away from the industry and exclude newly established companies or applicants with bad credit. Those who are approved may not receive funds for several weeks, and could then be stuck paying off that loan for years.
When shopping for a trucking business loan, look for lenders that go above and beyond. Make sure you understand the application requirements and have the proper documentation on-hand. Consider working with a lender that offers a simple application process and fast decision times. Furthermore, understand how smarter financing fits into your business plan and future ambitions. Trucking business loans need to be timely and manageable, in contrast to the long-term debt that often comes with loans from traditional sources.
QuickBridge provides affordable and flexible financial solutions perfect for trucking companies. Trucking business loans from QuickBridge can be used to finance key growth objectives like:
• Upgrading equipment
• Hiring additional truck drivers
• Paying for truck repairs
• Covering unexpected costs
As an added benefit, short-term financing can help you realize additional savings. For example, you can use the extra cash flow to pay invoices early for a discount. Or take advantage of credit from vendors while keeping cash on hand through your trucking business loan. You can gain a distinct advantage over your competition by maintaining your trucks, purchasing freight tools and increasing your payroll by hiring more drivers. The flexibility of short-term lending makes these and other tasks possible.
QuickBridge’s streamlined application process won’t require you to offer up collateral or submit a stack of documents to qualify. Our approval process is quick, customer service is exceptional, and we’ll work with you despite having a bad credit score. If approved, you could see the funds in your account within 24 hours1.
With a trucking business loan from QuickBridge, truckers can have the funding and the confidence they need to grow their business. Reach out to QuickBridge today and secure the capital you need for the long haul.