Trucking companies are the backbone of our economy, generating $700 billion annually and delivering goods and materials so all other businesses can keep moving forward. Yet despite proven reliability and hard work for decades, fleets and independent owner-operators alike still face challenges when trying to get the funding they need to run and grow their operations. Fortunately, there are financing options available for trucking companies in need of both equipment and working capital.
Equipment Financing for Trucking Companies
Trucking companies are in constant need of new and replacement equipment to keep things rolling. Traditional lending institutions are not always unfamiliar with the needs of trucking companies, and equipment does not always fall neatly into a “one size fits all” loan program. This is why Derix Capital Finance offers equipment financing designed specifically for the trucking industry. We have programs for equipment financing and leasing options for small trucking companies, large fleets, and everything in between.
Working Capital for Trucking Companies
Trucking companies have receivables with staggered payment schedules ranging from 30 to 90 days. The payment schedules can place a severe strain on cash flow when trucking companies are dependent on revenue for payroll, fuel, maintenance, overhead costs, and more. To speed up cash flow and build capital reserves, trucking companies can use freight factoring. Derix Capital Finance offers fast turnaround on unpaid receivables so trucking companies can get quick access to working capital. Additionally, we offer revolving asset-based lines of credit for fleet customers structured around the value of equipment and receivables. Fleets of all sizes have options for reliable and renewable sources of working capital on-hand at all times.
Roots in the Trucking Industry
Derix Capital Finance has deep roots in the trucking industry. Our founder started his career building one of the largest heavy haul fleets on the Gulf Coast before making the transition to providing finance solutions for the trucking industry. We understand the needs of trucking companies and fleets of all sizes, and work with owners to create solutions to help them reach their goals. Derix Capital Finance is a member of the Specialized Carriers and Rigging Association.
Whether you need new equipment, working capital, or if you want to boost your cash flow, contact the experts at Derix Capital Finance today.