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Truck Loans & Lease Indianapolis, Indiana

It is quite common for trucking companies to face financial challenges when growing too quickly or conducting turnaround plants. When the company begins to run low on funds and cannot pay their operating expenses, it makes managing the company quite difficult, and may affect their ability to keep operating, at worst.

Cash flow is important, and to ensure that Indianapolis fleet owners and owner-operators don’t succumb to fast growth, we provide them with loan and lease services to get the trucks they need to haul more cargo at the most affordable rates.

Among the options available for truck financing are freight factoring, for smaller companies, and asset-based lending (ABL) for medium-size and large companies. With ABS, the company is expected to leverage their existing assets – equipment and accounts receivable – in exchange for immediate funds. It’s a great option that allows you to get funding once invoices and freight bills are created, while shippers pay on net-30 to net-60 day terms.

Factoring operates on a similar principle where you get money from drafted invoices. However, ABL requires that the business have a minimum monthly revenue of one million dollars, while factoring accepts less monthly revenue.

A third option

At Truck Loans Center, we provide our Indianapolis customers with loan and lease options so they can grow their transport business fast without having to put up significant expenses or seek financing to buy the truck or equipment.

Not all businesses agree that owning transport vehicles is a good idea. To begin with, there are so many different kinds of cargo that choosing to buy a particular kind of truck or trailer limits you to ferrying only the loads that are compatible with that vehicle.

Secondly, exposure to adverse weather, being constantly loaded, poor road conditions, long travel distances and other factors cause these vehicles to wear down very fast. So, you lose the value of your vehicle fast with depreciation, and you cannot recover that money.

To seek financing on a transport vehicle as an asset, you must also have good credit and reasonable financial statements.

Our loans and lease services, on the other hand, are less prohibitive to businesses of all sizes. You can rent any kind or size of transport vehicle for the short-term or long-term depending on your needs. The vehicles are very well maintained, with the option to get a replacement vehicle should the need arise. Our option certainly has many benefits for trucking businesses in Indianapolis.

Why Should I Go through Truck Loan Center?

We care for our Indianapolis customers, but this is just the beginning. Our services are characterized by:

  • Competitive rates based on your credit
  • A simple and fast application process that takes just a few minutes
  • Fast closing
  • Honesty and transparency throughout the process

Loaning or Leasing Transport Trucks in Indianapolis

At the Truck Loan Center, you can loan or lease any type of vehicle depending in your unique needs, for a flexible duration of time. To determine what financing option is best for your case, contact our skilled and friendly customer service team today to discuss your needs.

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