Tag Archives for qualifying for loan

The Ultimate Guide to Trailer Financing

Trucking can be a profitable business to get into — but getting started in this industry? That takes resources. Financing and funding to kickstart or expand your trailer business ought to play a central role in your strategy. Prior to making a decision, know that buying tractor-trailers are expensive. Manning, equipping, and maintaining an entire fleet of them can be difficult, especially when you’re just starting out. Fortunately, there are designated truck, trailer, and equipment financing options that can help. Read More


Understanding Factor Rate and How it Determines Your Business Loan Repayment Plan

Factor rate Loan

Unlike personal loans and mortgages, equipment financing/leasing doesn’t account for an interest rate or APR.  Instead, the amount of interest you’ll end up paying is calculated using a method called factor rate. A factor rate — is essentially “interest”, but calculated at the outset of the loan and spread across your payments throughout the borrowing period. This type of financing is beneficial for your businesses in two ways:  First, because it allows you to pay a consistent, predictable payment for Read More