How To Apply for Funding for a Trucking Business

You know you’ve got to keep your business moving. But without funding, you can struggle to meet your business plan: keeping trucks on the road, hiring and retaining staff, and growing your business.

And if you don’t have enough working capital on hand to deal with unexpected issues – like a vehicle that needs repairs, or a sudden increased demand for your services – your business can end up stalled on the side of the road.

So, think about funding when you’re reviewing your quarterly earnings, or planning for the future. Your options include applying for a traditional bank loan and accessing funding from an alternative lender.

How can I use funding to build my trucking business?

The terms of the funding you secure from a bank may limit what you can do with the funds you borrow. With an alternative funder, you get more options. You could use the funds to:

• Leverage new opportunities

• Cover business expenses

• Lease or purchase vehicles

• Purchase or upgrade tools and machinery

• Repair or replace vehicles and other essentials

• Expand staff

• Extend services you offer

• Add a new location, or increase current office space

• Invest in technology

• Market your business

Applying for a bank loan for your trucking company