Starting up a company in which the start-up capital is very expensive might be a difficult task as well as a big risk. For instance, you want to start a company that manufactures drinks, both canned and bottled. This would definitely involve distribution as well because that’s where your profits come from. You would need a factory, manufacturing equipment, packaging equipment, conveyance vessels as well as distributing vessels such as large trucks and trailers. That’s not all you need, you would need workers that would be paid monthly as well as the materials for production of the drinks such as the can or bottle as well as the content itself. All these expenses can be made easier simply with equipment financing such as truck and trailer financing. At least, you would have in mind that part of the expenses has been catered for and all that is remaining is to focus your efforts on bringing in more money.
Equipment financing involves seeking funds from private lenders such as banks, insurance establishments or equipment financing companies. Yes! There are equipment financing companies, they specialize solely in offering financing options to those in need. Equipment financing comes in different forms, one of it is Truck and trailer financing.
What do we mean by Truck and Trailer Financing?
This involves seeking for a means (funds) of getting your truck and trailer. This could come in different forms such as getting loans from private entities or equipment lease. Getting a lease involves renting of truck and trailers from companies which offer this kind of service. It usually requires a kind of payment monthly or yearly depending on the agreement.
Truck and Trailer Lease
This is a good and effective means of getting your truck and trailer for your business. It is always in form of renting with a down payment or monthly installation. In this kind of finance option, the business owner would not retain ownership of the truck and trailer. It is well-suited for businesses who do not need the equipment all-year round.
Requirements for Eligibility
Most private lending businesses have a list of requirements their clients must meet before granting their wish.
Asset Acquired– The assets the client own can also be checked, in case there is a default in repayment, the asset can be used to cover for it.
Future yield- Some private lenders would check the investment you want to use their money for whether it is a good investment that would yield a great profit. If it doesn’t, then it might not be approved.
Faithfulness and Trustworthiness- This is just check how committed and faithful you’re in fulfilling the repayments of loans by checking the previous loans you acquired.
Choose the Best
The team at MHF knows how important your time is and that you would rather be getting on with your business than organizing finance for your next truck. That’s why at MHF we do all the running around to ensure you receive the most competitive and suitable finance package around.
Our application process is simple, fast and efficient. We are used to working with clients in the transport industry and know its details inside and out.
Call the team at MHF on 1300 884 145 for quick & easy truck and trailer finance. Let us do the running around while you keep working.