Nevada Trucking Fleet Keeps On Trucking
Merchant Cash Advance Nevada Trucking Fleet Keeps On Trucking
Author: Gerelyn Terzo
Date posted: 07.11.24

Bill owns a trucking company in Nevada, and he’s looking for funds to keep the business afloat. The company generates about $240,000 in sales per month, but Bill has struggled to assign routes to keep his fleet on the road due to a driver shortage. Bill is one of many small business owners in the trucking industry facing a funding shortage. He’s been in business for five years, and he’s looking to access $200,000 in capital before things go from bad to worse.

Managing Cash Flow in Trucking Business

Trucking is a business that requires a lot of upfront capital. Worse, cash flow is not predictable. It’s up to Bill to lay out the money for expenses, including fuel, repairs, and the trucks. He needed cash, and he needed it yesterday. The urgency was to take advantage of opportunities to grow the business, attract more drivers, and bring in more accounts.

 

The flexibility of a cash advance made this product an attractive option. Bill’s need for funding was threefold:

  • He aimed to expand his fleet with eco-friendly hybrid trucks, despite their higher cost compared to traditional fuel-powered vehicles.The goal was to lessen the company’s carbon footprint and appeal to a broader swath of customers.
  • He wanted to attract top drivers by offering higher compensation, making his trucking company stand out from the competition.
  • Once he had the truckers, Bill wanted to expand the business by purchasing more routes in different regions of the country.
Nevada Trucking Fleet Keeps On Trucking

Trucking is deemed a high-risk sector by lenders, particularly during economic uncertainty like there has been lately. However, for Bill, it’s a deal-breaker if he had to put up his trucks to secure funding. Instead, he was looking for a funding source where collateral doesn’t matter, and the unsecured nature of MCA advances checks that box.

Seamless Funding Solution for Trucking Business

Bill sought a hassle-free funding option without extensive documentation. Fortunately, the merchant cash advance’s requirement of just three to six months of bank statements fit perfectly. Moreover, he discovered a funding company specializing in high-risk industries like trucking, servicing Nevada as well.

 

After filling out the online application, he was approved and connected with a funding specialist. Consequently, about 24 hours later, Bill received funding of $200,000 in his business checking account via ACH.

 

Moreover, Bill secured the necessary funding for his trucking company to sustain its crucial role in the economy during this critical time. Additionally, their trucking business plays a vital role in delivering packages that keep the world moving.

Nevada Trucking Fleet Keeps On Trucking
About The Author | Gerelyn Terzo

Gerelyn is a financial journalist who has reported for some of the top trade publications on investment banking, fintech and cryptocurrency. Gerelyn graduated from Campbell University with a B.A. in Mass Communications and currently resides in New Jersey.

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