The US trucking industry has coped well with the disruptions created by the COVID-19. But having sailed through it, the truckers now need to look ahead and figure out the ways to secure their business profitability and growth in the long run. The new normal has new challenges, and the trucking company owners will have to pivot their businesses to turn these into opportunities.
Unlike other COVID-hit industries, transportation businesses kept rolling right through the pandemic and escaped the wide scale disruption and closures seen by many others. However, they still need quick financial aid to tighten their operations and to handle the long-term economic fallout due to the pandemic.
This is where we come in to the picture. Money Matters Now is committed to helping America’s truckers steer their way to stability and profits. We have a whole range of flexible trucking financing services that will give commercial trucking fleet owners the funds to buy, maintain, and manage the truck fleet necessary for success. Here are the most popular options that the truckers can opt for:
• Merchant Cash Advances
If you need help covering cash flow gaps to meet your operational expenses, then a Merchant Cash Advance is the easiest and quickest way to get ahead of administrative and operational costs, such as payroll, insurance, training of drivers, repairs, maintenance, and more.
At Money Matters Now, we have super-quick approvals for MCAs ranging between $2000 – $20,000.
• Invoice Or Freight Factoring
You know that stressful period when you are waiting for your clients to clear your dues while watching your bills pile up – that’s what invoice factoring takes care of. Truckers can sell their pending invoices to us for an advance against the value of invoice receivables. This enables you to get paid faster on completed jobs.
Truckers dealing with institutional customers who generally hold invoices for a month or more will find that freight/invoice factoring options could be enormously beneficial.
• Equipment Leasing Or Financing
Equipment financing covers the cost of purchasing or leasing any type of equipment in a trucking business – from a new printer for the office to buying a new truck to installing state-of-the-art on-road technology solutions. This is an excellent way for small trucking business owners to expand their fleets and capacity.
• Business Line Of Credit
This is another useful type of funding for bridging seasonal gaps and investing in small ways to improve your business. As a revolving credit line, a Business LoC gives you continuous access to money as and when you need it without burdening you with any unnecessary interest payments. It is typically used as working capital to cover a variety of different expenses.
At Money Matter Now, we don’t just judge a business or person by their FICO scores; instead, we determine the creditworthiness of our clients by looking at the robustness and longevity of their business. Our approval process is designed to support all types of trucking business owners, even the ones with less than average credit scores. So call us to learn more and explore a world of opportunities with us!