By: First Union | Date:
Finding the Right Loans for Your Trucking and Transportation Business
See Your Loan Options
While the trucking and transportation industry may be going full speed ahead, it seems that currently there is a shortage of truckers in this country. As of 2017, it was estimated that over the course of the next five years, roughly 90k truckers per year would be needed in excess of what we already have. Meaning, there is also a shortage of tractor trailers available to haul much-needed goods and make those critical deliveries. If you are interested in pursuing a hauling/trucking business or are currently looking to expand your operations, there could not be a better time to do so.
One thing is for sure, if you do get into trucking and transportation or consequently are wanting to grow your enterprise, you’re going to require cash to do it. This is where First Union comes in. Did you know that we have a number of flexible small business loan and lines of credit programs that are tailored specifically to your transportation business? We understand that a truck driver’s financial needs are going to be vastly different from say a beauty salon owner’s. This is why each client has a dedicated advisor on hand, with whom they will work through the entire application and underwriting process. And the great thing about our funding plans is that the process doesn’t take months or even weeks—you could have the cash in just a few days!
If you qualify, you can access up to one million dollars if needed. What might you use this money for? How about:
- Updating equipment, repairs, or purchasing spare parts
- Dealing with taxes, licensing and insurance fees
- Expanding your operations
- Marketing efforts for your company, such as a new website
We also offer loan programs for purchasing new tractor trailers. Unlike traditional lenders, we look beyond the credit score as we want to help you get your foot in the door of this thriving industry that needs people now. With flexible payback plans, you simply can’t go wrong trusting First Union with your trucking and transportation financing needs.
It is always a good idea to have a budgeting plan just in case unfortunate events do come up. First Union Lending offers many business loan products that you can utilize. Find out what you qualify for!