Adding Another Truck

What happens when your Customer has more loads, and wants you to add another truck?  To grow the Company, you will need access to capital or business financing. It takes money to grow. The challenge is finding and obtaining financing. Most banks are unwilling to provide business loans to small transportation companies. Some Carriers have already maxed-out their credit with loans on current equipment.

What do you do?  Usually, Carriers go to a Used Truck Equipment Dealer and find a truck that will work for the job at hand.  Then, you will have to complete the Credit Application that the Dealer gives you, so you can obtain financing through the Dealer’s Lender.  You will try to negotiate a very low down payment and try to finance as much as you can, if possible, because cash is tight, Then, EVERYTHING COMES TO A CRASHING HALT! The Dealer informs you that you don’t have sufficient credit to qualify for a loan.  However, being a wise Dealer, he does provide several alternatives that might work.  He will suggest that you find somebody to Co-sign on the loan, or that perhaps you put an additional 10% or 20% down.  Typically, it is hard to find anybody to be a co-signer in the current economic climate. And where in the world can you find more cash to put down?  Money already is too tight!  Unless you have family members or friends who will loan you the money, increasing your down payment isn’t going to happen. Money to grow the Company will have to come from your current cash flow.

Now adding that new truck really becomes a problem! It’s a fact that most Carriers have immediate expenses and delayed revenues. This means you need to pay for fuel, tires and repairs now, while your customers pay the freight invoices 30 to 60 days after service. This time gap, between expenses and receiving income, forces Carriers into a position where it is really difficult to grow!

HERE IS A REAL WORLD SOLUTION: Consider factoring your freight bills (invoices) through AmeriTrust Capital Corp. Freight factoring is the best way to instantly improve the cash flow for your trucking company. Factors tend to be more willing to finance smaller companies and startups than banks, and we require less paperwork. How does this help you?  It accelerates your Cash Flow by about one month.  In other words, if you are doing $16,000/month in Revenue, by using AmeriTrust to accelerate your Accounts Receivables by 30 days, you will have about $16,000 in Cash! NOW YOU HAVE OPTIONS!!!

With better cash flow, you can now increase the down payment on your rig. More money down means you can qualify for financing through the Dealer’s Lender.  Or you can go to your bank, who should charge a lower interest rate because you now are a lower risk for them. More money down and a low interest rate will lower your payment for the new rig.  Regardless where you get financing, the bottom line is that you can now get that second truck. You can continue to meet the needs of your Customer and make more money!

AmeriTrust does factoring to help Small Carriers and Owner-Operators. Factoring is the only source of funding that directly builds as your company does.  The more you grow, the more you can factorThe more you factor, the more money you will have to grow.

This is what AmeriTrust Capital Corp. brings to you:  (1) An easy path for the growth of your company,  (2) a whole list of services that make your life easier, and  (3) a better way to manage your Cash Flow.

Call Juan Cardenas at 1-800-732-2921, Ext #216 for additional information about how to get started. Let AmeriTrust earn your business. It’s easy to sign up, and we can quickly put your deal together!

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