In its latest ATA Freight Transportation Forecast: 2020 to 2031, the American Trucking Association reported that despite a decline in 2020, the long-term trend still looks positive for both trucking and overall freight shipments. It predicted that trucking volumes were expected to rebound in 2021 and grow 3.2% every year on average through 2026. That’s great news for owners of trucking companies such as yourself. You can now look for ways to invest by going for trucking business funding and expand your business in order to reap its benefits.
Get The Right Source of Finance
Those that are in commercial trucking business know the value of cash. In fact, it’s even more true for small independent trucking businesses. Getting trucking business funding need not be a lengthy or tricky business. While procuring finance isn’t a big issue for large companies due to their established reputation and good credit ratings, it is often not the case for independent trucking businesses. Thankfully, there is a solution for small and medium sized enterprises in the way of merchant cash advances. Especially so when your funding company has established partnerships with a diverse group of financing providers as they will be able to provide you with the financial solution that will work best for your business.
How Does It Work
A merchant cash advance is a lump sum payment made to a business entity, anywhere from 5k to 500k and its repayment is based on an agreed percentage of future credit card or debit card sales. They work really well for enterprises that often need them for daily expenses, salaries, bulk purchase of inventory, upgrade of technology and general expansion. Applying for trucking business financing such as merchant cash advance is not a tedious process. The application form itself isn’t lengthy and can be easily completed and submitted online. Documentation is fairly simple and approvals are quick with flexible repayment terms. What’s more! It does not require for you to put down a collateral. Therefore, go ahead and get the funding that you were looking for to take your business to new heights.