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30
Dec

8 Ways to Use a Working Capital Loan for Your Trucking Busin...

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8 Ways to Use a Working Capital Loan for Your Trucking Business

There are many people who turn to working capital loans in order to fund their businesses. It is likely that many of your competitors have also taken out such loans in order to expand their companies. A short-term business loan can help solve cash flow problems that have stalled your growth. Although many other loan types involve complicated application processes, working capital loans are often approved quickly. Here, we will discuss some of the ways that you can use a working capital loan in order to fuel your trucking business. Bridge Payment Delays Some of your business partners may be…

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20
Apr

Loan vs. Lease for an Excavator: Which Is Better?

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Loan vs. Lease for an Excavator

Have you ever considered the advantages of having an excavator for your company? There are a number of projects that are easier to do with an excavator, including: Hauling Digging trenches, foundations, and more Demolition Forestry work River dredging Snow removal You can also opt to buy different attachments for your excavator, which are best used on specific projects. This includes grapples, augers, and hydraulic-powered tools like breakers to deal with materials such as concrete or rock. You can also find dozer blades that attach and detach to your excavator. Depending on the kind of work that you do, expanding…

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2
Mar

Advantages and Disadvantages of a Heavy Equipment Loan

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Heavy equipment loans

The construction business is big in North America, with an estimated value of 1.3 trillion dollars in the United States alone. As such, many people who are thinking of starting a construction company will need to procure heavy equipment in order to run their business. However, heavy equipment tends to be quite expensive, so many entrepreneurs will turn to heavy equipment financing in Canada in order to obtain their heavy equipment vehicles. Here, we will break down the advantages and disadvantages of heavy equipment financing in Canada. Obtain the Necessary Funds The first pro is that you will get the…

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4
Jun

Should You Finance Your Bulldozer?

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Should You Finance Your Bulldozer?

Bulldozers are expensive pieces of equipment that are virtually a must at a construction or demolition site. As such, loans and financing for bulldozers must be approached a little differently when compared to other heavy equipment vehicles on the market. It should also be noted that if you are buying new equipment from a dealer, are not part of a startup company, and have a credit score that exceeds 700, then the chances that you will be able to obtain a lower rate from your dealer is quite good. However, in many cases, you will end up working with an…

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5
Jun

7 Questions to Ask Before Taking a Heavy Equipment Loan

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In order to receive a loan for the purchase of a heavy equipment, you need to ask yourself some few questions. After answering the questions, you can choose the right lender and know precisely the right amount you require. Many of the loan borrowers do not have sufficient measures for applying for a loan. Therefore, it poses some doubt to the lender concerning the credibility of the client. When applying for a loan, ask yourself the following questions: What is the Interest Rates? When applying for a car loan, shop around for interest rates. Different lenders will have different car loan interests. Choose the lender who provides an interest rates affordable depending on your budget. How Much Can You Contribute Before Taking a Loan? The trend is that you should contribute more than 20 percent for the total amount of the truck. However, some banks even offer to provide the…

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