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Achieve Your Transportation Business Goals

by Punjabi Trucking

Currently, there are 3.5 million truck drivers in the United States. And there are 5.2 million additional workers in the trucking industry who never step into a cab. That means there are 8.7 million people who work each day to keep this industry humming. While that may sound like a big number, it’s inadequate. According to research, about 900,000 more drivers are needed to meet the rising demand.
Of course, there are few words more beautiful to a business owner than “rising demand.” It just takes money to scale your operation accordingly. And while buying one or more trucks may be a business requirement, it’s not as simple as stopping by your local bank to get an auto loan.
Finances can be trickier for those in the trucking industry. First, as you well know, trucks are expensive. New cabs range from $130,000 to $180,000, with the trailer adding another $30,000 to $80,000. On top of the costs, trucking companies are often considered by lenders to be a risky investment.
So as you look at financing for the New Year, it’d be wise to research your options. Whether you’re looking to buy a truck, lease a truck, or repair/upgrade your current truck, it’s important to know that you have options.
As the owner of a transportation business, you deal with a wide variety of costs and challenges, such as handling vehicle repair and maintenance, getting new vehicles and training for new and incoming staff. There’s a lot to coordinate and cover, especially when your customers have important deadlines to hit. This can easily lead to cash flow gaps. Premier Business Lending also has the products to help with those cash flow challenges while offering short term business loans and lines of credit.
When routine business expenses exceed your cash flow, or you see new opportunities to expand that require capital to implement (such as purchasing new vehicles or expanding into new routes), there’s an easy way to get the financing needed to take your business to the next level. Simply take a deep breath and get it done with funding from Premier Business Lending.

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