For example, as the economy improves, more and more products are going to ship.  If you do not have your fleet ready, you are not going to be able to take on the new work available.  Having access to transport funding is crucial.  Trucking funding can be accomplished in more ways than you probably are aware of, and that is where O’Neill comes in.

They can help you work directly with financial institutions and do hybrid deals that can include  receivables financing or could  include asset based lending.

The one thing you do not want to do is wait until the last minute, because planning ahead and having a clear growth strategy mapped out for your trucking company is critical for success and for being able to take your time and get the best financing deals available.

Fleet funding issues are best discussed with someone that works in the area and can make sure that everything is considered and reviewed so that you get the best funding deal you can for your fleet of busses or your fleet of trucks.

Transportation financing can include things like basic a transportation loan or SBA Financing or purchase order financing.  There are advantages and disadvantages to the various options, and you may or may not have a choice when it comes to some of the financing options.

That is why working with someone like O’Neill Financial Partners can help.  They will review your situation and talk with partner banks to see what will be available to you and what is the best deal.

And you only pay something if you get financing, so it is risk free to give them a call and discuss your truck financing needs.

Fleet funding issues are best discussed with someone that works in the area and can make sure that everything is considered and reviewed so that you get the best funding deal you can for your fleet of busses or your fleet of trucks.

Transportation financing can include things like basic a transportation loan or SBA Financing or purchase order financing.  There are advantages and disadvantages to the various options, and you may or may not have a choice when it comes to some of the financing options.

That is why working with someone like O’Neill Financial Partners can help.  They will review your situation and talk with partner banks to see what will be available to you and what is the best deal.

And you only pay something if you get financing, so it is risk free to give them a call and discuss your truck financing needs.

O’Neil Financial Partners is there to help you grow your organization. 

To do this you are going to have to have your fleet up to date and well maintained.  You are going to have to have your equipment working and have enough of it.  And you are going to have to be able to grow fast to meet the increasing demand.

Financing is the most important element of this.  The fact is, money is what makes your growth possible and there are many ways to get the funding you need to grow.

SBA Financing is one option and we have helped many people through this process.  Another option is equipment financing where you use asset based lending to get the equipment you need.

We can look at your individual situation and analyze what the best financial tools are for you.  O’Neill Financial specializes in transportation company growth and we can take a quick look at some key indicators and let you know what your best options are for funding your growth.

In the transportation industry more than most other industries, not only are nearly all major assets of the company in harm’s way, but nearly all are actively involved in producing revenue on a continual basis. It is critically important to maintain these assets and keep them producing.

Traditional financing and factoring each suffer from diminishing availability. Credit lines need to be established, but are for some finite amount. Additional credit is dependent on the service of the current debt and the the financial health of the company. An increase in debt can reflect poorly on that financial health.

To take advantage of factoring, a company must sell their accounts receivables at a discount for immediate cash to finance operations. Firstly, a company must have large accounts receivables to take advantage of factoring. Most factoring companies have large minimum transaction amounts. Factoring also cannibalizes the company’s cash flow by committing future receipts to the factoring process. While it may be necessary for some companies, you should explore all options before deciding.

Asset based lending on the other hand depends mostly on the assets of the company. In an asset intensive industry like transportation, asset based lending can be used quite effectively. The semi tractors and trailers are assets that can be in service for many years beyond their initial financing terms. This type of financing is often available to companies where the normal routes to raising funds are not available.

Everything from trucks and drivers to insurance options and an office will need to be funded. Growing a trucking company takes time and will take some fleet financing. This is why it is important to take one’s time and work with a reliable financing group.

It is important for any potential trucking company to have access to capital and be responsible. Growing too fast could really bring a host of expenses that one is not prepared for. Instead, owners should be intentional about finding fleet financing and growing slowly yet surely.

The economy is picking up steam, but it is not always a quick process. This is why is it important for people to read the financial news, keep their eyes on the economy, and really research fleet financing options and choosing the right time to grow or start a trucking business. With the right funds and a steady head, one can really make this company last for quite some time.

Look no further. Fleet financing is not easy to obtain, but with some hard work and direction coupled with your determination, you can finance your very own fleet. Working together with the finance company to design financing that fits your needs is the most important part when it comes to fleet financing.

Once you have the financing for your fleet in the books, it is time to get receivables financing. It is understood that financing is usually needed for the receivables that will be ran by your trucking business. Do not overlook this very important step, as receivables financing is the key to keeping your trucking business running and away from bankruptcy.

Whether you have a small fleet of just a few trucks or a large fleet of 500 trucks, financing can be found with favorable rates and one hundred percent financing if you qualify. Do not let your dreams go unrealized and get started on your path to fleet ownership today by getting your financing in order. Get started today in order to get the best rates on financing and getting one more step closer to your goal of owning your own fleet.

With the positive signs in economic growth and consumer confidence, you can be sure that there is going to be an increased need for shipping and transportation as well.

Savvy trucking companies are going to have the financing and fleets in place to handle the increase in need.

But extremely savvy owners are not going to go straight to factoring to grow their fleet of trucks.  The savvy owners are going to take the time needed to look around and find someone that they can work with that can put together direct, hybrid financing deals that will help them grow and help them keep the costs of expansion under check.

Fleet funding is possible in many ways.  Asset based factoring is only one.  There are other hybrid forms of financing that can help a company grow and take advantage of the coming increase in needs.

Financing invoices can produce account receivable funding as well, which might include purchase order financing to secure a  transportation loan.

Mike O’Neill is an expert in the different options that can help transportation companies secure funding and keep the cost of capital lower.  He is happy to talk with you and see if his network can help you grow your transportation company.  Why not give him a call?

If your answer is yes, and it should be yes if you plan to cash in on the recovery that is starting to happen, then you need a reasonable source of financing to expand your fleet.  Fleet funding can be done in a variety of ways, including  account receivable financing or asset based factoring.

O’Neill Financial Partners actually has a hybrid financial product that usually saves trucking companies on fleet funding because of working directly with the financing companies instead of working through middle men.

While you may not think you need it today, keep in mind that if you start trying to expand your transportation company or grow your truck fleet after the boom starts, it could be too late or at least your are going to miss out on the initial burst of new business because you are not ready to take on the work.

O’Neill Financial Partners wants to work hand in hand with you to ensure you do not miss these opportunities.  We can work with you to ensure you have the access to working capital and financing so that you are prepared for future opportunities, without getting yourself in over your head too early.

Give us a call and lets talk about how we can help your transportation company grow.

So if you need to get more working capital to grow your trucking company, then you are going to need to consider different types of financing.  While trucking factoring is a common way to grow your business, transportation factoring can also be an expensive source of capital.

Something that is often overlooked is hybrid financing.  This combines asset based financing along with working with lenders to secure financing you need to grow your business.

What can you use the financing for?  Bus financing, Truck financing or Trucking funding that can help you grow faster.

The big key is to make sure you are prepared for increased work.  If you do not have the trucks in place, you are not going to be able to get new clients, and that will leave your business stagnant.