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Financing your truck and trailer with an SBA loan is really something you should consider. Most people get the financing from the government backed loan program. However, your financial background should have no obstacles like bankruptcy or a very low credit rating.
The time is right – government fundings (SBA loans) are available at very low rates.
Why should you apply for a Government Funded Loan (SBA loan) instead of a Conventional Loan? The interest rate for a government funded loan is the current prime rate plus 1.75 to 6.5 points depending on your credit history and can be granted up to 15 years.
The interest rate for a conventional loan is up to 6-8% higher and the term is averaging only up to 5 years. Even if your credit history is not perfect, you have a much better chance to get approved for an SBA loan than for a conventional loan. But remember, you need a professional business plan to achieve your goals. Your chances for approval will also increase if you belong to a minority group such as African American, Native American, Hispanic American and Asian American, or if you are a woman-owned business.
Note: You will not only receive instructions what to do and more importantly what not to do, you will also receive an actual trucking business plan which you can update with your personal information.
Only available at TruckingSuccess.com. Trucking industry experts developed our business plan & instruction manual using actual data for the financial projection. We also provide information on grants & SBA loans and how to apply. You can easily finish your plan by using the actual business plan we included in our issue.
Upon request we also prepare individualized business plans for a reasonable fee. Call us at 602-864-8056