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2 Replies Latest reply: Jan 18, 2009 12:09 PM by bmt2008 RSS

Commercial Truck Loans

blacklion Newbie
Currently Being Moderated
I need business loan to buy used commercial tuck but I have very bad credit and also my company does not have credit?
How and where to find loan for my trucking company?
  • Re: Commercial Truck Loans
    LUCKIEST Master
    Currently Being Moderated
    Commercial Truck Loans, Welcome

    The company was established in 2006. Do you have an Accountant??
    Tax returns and Current Financials for 2008 that I can see??

    Have you developed a Cash Flow Report or a Business Plan??

    How much are you looking for?? and for How long??

    LUCKIEST
  • Re: Commercial Truck Loans
    bmt2008 Novice
    Currently Being Moderated
    Can you tell us a little more about your business? Without good credit, might be hard in this market - but you may have other factors that could help you.

    There are trucking finance companies that can provide equipment loans and leases (including trucks and other vehicles). There are also non-bank finance companies that can provide gas cards for your drivers - essentially an advance until you get paid from your customers. There are also factors that will advance on your invoices - giving you the funds now to purchase trucks - these are then paid back when your customers pay you - might even get an advance on future invoices that you will generate with the new truck(s). The reason I mention these is that these loan products are not really based on your credit - but the credit of your customers.

    That is about all that I can say now until we get more information about you and your company.

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