Transportation businesses are the lifeline of so many other businesses and industries, moving goods and people to the places they need to be, on time and in good order. It is also an industry with constant demand for funds on hand. Transportation businesses need cash to pay bills, purchase fuel, pay for preventative maintenance, train staff, pay salaries, repair equipment and even to pay for space for parking vehicles. Add to this the regular need to replace and add vehicles and equipment, and there is a constant need for cash flow.
At the same time, transportation businesses also need to add and replace trucks, trailers and other equipment on a regular basis. Equipment Lease/Finance is the most common way transport businesses do this.
Transportation Business Financing
There are many different financial products that transport business use. The most common are:
- Working capital loans
- Equipment lease and finance
- Real estate loans
- Unsecured loans
- Invoice factoring
These financial products are applicable to all the companies involved in transportation including one truck owner operators, multi-vehicle fleets, taxi cab companies, home movers, and local delivery companies.
Priority Lending helps transport businesses run their business according to their rules. We help ambitious businesses match with lenders who can accept the risks that allow startups to succeed and existing businesses to flourish. Priority Lending works in partnership with the best lenders for the transport industry and is dedicated towards bringing the most profitable deals to the borrowers.
At Priority Lending, we do all the hard work of finding good lenders and submitting the paperwork. We just ask for basic financial information necessary to complete an application package. After that, the staff of Priority Lending will manage your file to get you the best deal from the lender.