Category Archives for Commercial Truck Financing

Commercial truck financing is a loan for acquiring a commercial truck. The lender takes the truck as collateral to reduce the risk. Borrowers can seek financing for a single truck or a fleet of trucks depending on their needs.

Working of Commercial Truck Financing:

In commercial truck loans, the lender holds the title of the truck unless a borrower pays off the debt. Traditional bank and lending companies offer this finance with interest. Typically, commercial truck loans have a term of 5 years that covers the useful life of the vehicle. Interest rates can vary as per the credit rating of the borrower. The loan can be taken to buy a new truck, lease a truck, or upgrade an existing truck.

How to Qualify for Commercial Truck Loans?

The process of commercial truck financing is different from business loans. Being a specialized industry, commercial truck title loans need collateral security. It minimizes the risk of the lender. Even if the borrower does not have perfect credit scores, they can apply for this loan. There may be variations in the terms and rates depending on their credit standing. The qualifications for commercial truck financing are:

• The revenues and sales figures
• The age of the truck must be more than 7 years.
• Calculate the total value of the vehicle.
• The business must be more than 2 years old.
• Business credit score must be good.
• Personal credit score of owner/operator also matters.
• Proof of insurance is a must.

Online Lenders Vs Traditional Banks

The terms and rates of traditional banks are suitable for borrowers. But, they have a cumbersome application process and poor approval rates. Online lenders, on the other hand, have high approval rates and a simple application process for truck financing at no down payment.

Hence, borrowers must look for a lender with considerable experience and an ability to allow bad credit truck financing. Also, check the credibility of lender and industry knowledge. Also, it’s important to review the loan agreement before accepting.

Commercial Truck Financing depends on business financials. The borrowers must be mindful of the cash flow in their company to stay fit for this loan.

Commercial truck loans
Commercial semi truck loan
Commercial truck refinance
Commercial vehicle finance
Commercial truck title loans

Commercial Equipment Leasing vs Equipment Loans

Commercial Equipment Leasing

The Pros & Cons of Equipment Leases and Loans More than likely, you’ve done some research as to what’s the best way to get money for your equipment. You’re probably deciding between commercial equipment leasing or equipment loans. No matter the choice, First Capital is here to help you decide between the two. First, let’s discuss the differences and benefits these two have to offer. Commercial Equipment Leasing Pros Immediate Access to Needed Equipment Smaller Deposit than a Loan Keep Read More


Make the Holidays Great Again with Commercial Title Loans

Commercial Title Loans Holiday Cash

Spend Your Holiday Stress Free The holidays are the time of the year when people spend a lot of money. Whether it’s for holiday food, travel, or even gifts, it’s likely that you’ll spend more than what you want to. Some of us may even need to spend more than we have in the bank. If you’re an owner/operator and need money to help cover your holiday expenses, First Capital has you covered. With our commercial title loans for trucks and trailers, Read More


Forklift & Telehandler Financing Options

Finance A Forklift

If you’re in the need of forklift financing, whether your purchase is a mast forklift, telehandler / telescopic forklift, we offer a variety of financing and leasing programs for both new and used forklifts. We have both traditional and non-traditional forklift financing programs for those who have good and bad credit. Our financing programs will work with new or used forklifts, with the minimum purchase price starting at $5,000 and the maximum going to $250,000. Depending on what type of Read More


Using Collateral to Buy More Equipment Infographic

Equipment Infographic

Some business owners aren’t aware they can use their existing equipment as collateral to expand their business and buy more equipment. You may have some blemishes on your credit, but through First Capital, you can still obtain financing. What most business owners don’t realize is there is financing available to them even if they have some issues on their credit. Specifically for this program, the business owner would need to own collateral and in this case that would be other Read More


How Commercial Equipment Leasing Can Jump-Start Your Business

Commercial Equipment Leasing

Commercial equipment leasing can open new doors for your business. As we wrote in a recent post about ‘How Heavy Equipment Financing Can Help You Stay Competitive’, it can help grow your business, diversify your operations, accelerate your timeline, or upgrade your equipment. Just like heavy equipment financing, commercial equipment leasing is available to a wide range of industries. These include a great variety of small businesses, franchises businesses, enterprise corporations, non-profit organizations, and even independent contractors. What Kind of Equipment is Read More


How to Know if Semi-Truck Financing Programs are Right for You

How to Get Approved for Bad Credit Truck Loans | First Capital

Semi-Truck Financing Programs and You Semi-truck financing programs are a quick and easy way to get a hold of a new or slightly used truck for your business. It eliminates the need to either buy the truck outright, and doesn’t require giving up any equity. All the same, you may be wondering if this kind of borrowing program is right for you. Here are the big questions you should be asking yourself when considering whether a semi-truck financing program is the way Read More


Commercial Truck Financing Qualifications

Commercial Truck Financing

The Pre-Qualifying Questions of Commercial Truck Financing Do you need a truck, but are having trouble finding out what the commercial truck financing qualifications are? Let’s cover some major key points every owner/operator or small business owner wants to know before financing a commercial vehicle. Do You Need Good Credit for Commercial Truck Financing? If you end up calling our office chances are you might get me on the phone, and I would say that is the most common question we get from our clients. The Read More


What to Look for in Commercial Truck Financing Companies

commercial truck financing

Commercial Truck Financing Companies and You A quick search of the web will find you more than a few commercial truck financing companies. Researching all of them, weighing the positives and negatives, will take some time. If you’re an owner-operator or small business owner, however, this is time you probably don’t have. To make your job a little easier, we’ve put together a shortlist of the top things to look for when searching for the best commercial truck financing companies. Read More


Benefits of Semi Truck Financing Instead of Buying

Semi Truck Financing

Is Semi Truck Financing Right for Me? Trying to decide between semi truck financing and buying a semi truck, is kind of like deciding whether to buy new or used. If you’re a trucker or in the trucking business, you already know that your truck is your number one asset. Needs less to say, you need to get the best deal for your money. Answering this question is actually less about personal preference, and more about choosing the best finance option for you and Read More


A Truck Financing Company For Everyone

Truck Financing Company

Truck Financing Company One of the most important aspect of business success is an attitude of trying again. This applies to any type of business.  Many trucking businesses and other types of businesses go under because once you hit a bump in the road, the owners do not want to try again. The truth is most successful businesses did not do well at first, or they hit bumps along the road that could have meant the end of the line Read More