100% of my start-up costs will need to be with borrowed money...

theres a lot of factors here trucking is a very high risk venture for a bank they usually want atleast 2 years of owning a sucessfull buisness before they will even consider u

another thing is how much expierence do u have in the trucking department

live floor what are u hauling and where to if the landfill get ready for a huge tire budget

what is ur maintence budget remember u want atleast $10,000 in the maintence fund to start

 

I had $4000 cash. I kept it as operating revenue. This paid for my licensing etc and also the plane ticket to fly to Washington to pick up the truck/trailer.

I got an SBA Microloan for my equipment down payment and leased a tractor trailer from Westbay leasing.
http://www.westbayleasing.com/

I have done alright. In Feb 2013, I approached Jessie at westbay about trading the dry van on a reefer. He simply told me to pick out a trailer and get him the details. When I finally found the trailer, it took all of about 2 days to complete the paperwork.

 

If it pays that much money, there has to be a reason no one else is doing it, or someone who knows about it has not offered to start up someone.

 

You need credit to start such a business. You don't necessarily need a lot of cash though. If the work is truly local you only need intrastate authority if PA requires it. Some states don't. Your insurance will not be all that high if you have decent trucking experience. If the commodities you will haul are on the exempt list you don't need any type of authority. If you have good credit and some assets you can lease the truck and trailer to get started. You can set the payments up to be automatically taken out from a credit card. You better make sure that your shipper pays though. If you have a couple of credit cards with fairly high limits you would be able to get this off the ground as long as the shipper will pay quickly enough to stay ahead of the bills. If the pay is as good as you say, within a few months you should be paid up and working off cash flow. Then a few months later you would have the money and history to buy a truck and trailer. It is some what safer to start a new contract like this without buying everything up front. If the contract doesn't work out you don't have equipment to try to sell.

Business is a risk, but for those numbers per day I would be willing to stick my neck out a little. I would suggest a lot of due diligence on the shipper. You can get their information and contact a couple of factoring companies. If the factor won't pay on the shipper they may not be credit worthy enough to take the risk.

 

The real question is why doesn't the OP have any money to contribute????

 

i would say your have a hard time finding financing for 100% of start up cost. even with good credit. when i bought my truck i was orrigionaly looking at another truck that would have required a loan i had a hard time getting anyone to even consider it. even though the dollar amount i was looking to pay was less than what i had taken a loan out previously for on a pickup and paid off said pickup around a year before i tried taking out a loan on a truck. i had money for a substantial down payment ect. ended up buying a cash money truck instead after haggling with a few banks to try to get a loan.

if you have some assets you may have better luck taking a loan out against them and using the funds to start up. I have a freind that used a home equity loan to start up a trucking company. but i would say to try to take out a small bissness loan for 100% of start up costs you will have a very hard time, just from my experience.

 

Your making a Bad Decision, Better get more info first. Know before you jump. You better know, few make it out here. The ones that do, live a plush life, others eat Ramen Noodles. I eat steak. Blog all you want. If that don't stop you, Welcome, We feed America, we provide everything else. We do it well.

 

Lets say you can find someone to loan you money to buy a truck. You still need fuel, maintenance etc. When you buy an old truck, you will breakdown. I had to put 3g into my truck before it was good enough to reliably hit the road. What will you do if you blow a tire. What if the freight dries up and this 1800 a day deal goes south? Depending on how far your running you could burn 500 just in fuel every day.

If you reallyhave a deal that is this good, sell the deal to somone else for a finders fee or commission. Starting a trucking business without proper start up funds is just asking for failure when one varible changes.

 

Local walking floor work near Bushkill PA is very likely to be hauling trash. That market segment is saturated and extremely cutthroat, or was the last time I looked. Load heavy, run hard, murder on tires especially in summer, and the DOT boys love you. Also you're very likely paid by the ton.

Rough work, but there are niches there, like everywhere else.