im looking for information on how to get a loan for starting up my trucking business. i have loads to haul already, i will be doing flatbed in the southeast. i don't have any money and all my experience is local so there is no company that will let me lease on with no otr experience. im planning on buying a benson trailer from tmc for 12,000 and a 07 or older truck for around 30,000. i know i may sound crazy for wanting to do this with no money but there is people that do it some how and i know if i could loan enough for 3 months i could make it.
funds for startup
Discussion in 'Ask An Owner Operator' started by jmorris3288, Mar 5, 2016.
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Terry270, HalpinUout, Diesel Dave and 1 other person Thank this. -
I'll preface this by saying it sounds like a terrible idea, no experience and no money generally isn't how you start a business.
With that write a very thorough business plan including hard numbers on income and expenses and set up a meeting with a local business banker and run through your plan, explain exactly how much you need, why you need it and when it will be paid back. If you're a good enough salesman you just might walk away with a business line of credit. It's an incredibly long shot though, due to the failure rate in trucking not many banks will give you a chance without a history or collateral.
Only other option is same deal with a private hard money lender (a rich dude that invests in startups) but it's not much better odds and the loan terms will certainly be worse.dca Thanks this. -
Why don't you just sub out/broker the loads. You claim you have loads, broker them out, just don't stiff anyone. They will come pay you surprised visit that won't be pleasant.
dca Thanks this. -
and hopefully no one stiffs him on those sub out/broker loads.
what could ensure such a policy?
it's business. -
Not to mention from my experience the $30000 truck is gonna turn into a $45000 truck before your first year
DUNE-T Thanks this. -
could always try crowd funding
https://www.consumeraffairs.com/business/crowdfunding-sites/
https://www.crowdfunding.com
http://www.forbes.com/sites/chanceb...wdfunding-sites-for-fundraising/#637cc48e1cfb
I know they're here yet I've haven't given any of them a go. thought about it thoMudguppy Thanks this. -
Try GoFundMe. I've seen some of the sorriest losers on the planet get people to give them money on there.....
HalpinUout Thanks this. -
Nobody is going to do that, outside of rich parents or relatives. You just need to save the money yourself.
mitmaks Thanks this. -
Diesel Dave and HalpinUout Thank this.
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