Business Credit

Discussion in 'Car Hauler and Auto Carrier Trucking Forum' started by Kozakvod, Sep 20, 2017.

  1. Kozakvod

    Kozakvod Medium Load Member

    384
    602
    Jan 24, 2013
    0
    So I'm in the middle of trying to obtain financing for a new (slightly used) rig. Currently, Continental Bank in Salt Lake City is reviewing my loan request. While not a 100% convinced that we will get a "no go" out of them, they do rely pretty heavily on existing/previous business credit. And when you've paid cash for virtually everything since day one Im not so sure how it's going to turn out.

    Our personal credit and scores are excellent and we have cash for our down payment, but I would sure like to hear from others who have waded these waters before me.

    Are there other options available and what or who might they be, in the event of a turn down?
     
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. Kozakvod

    Kozakvod Medium Load Member

    384
    602
    Jan 24, 2013
    0
    Update...loan approved!

    Now, just find the right equipment.
     
  4. mastllc

    mastllc Medium Load Member

    378
    149
    Aug 28, 2008
    somewhere in ga
    0
    It might be worth a shot to look at your local bank that you bank with. Although i don't have a car hauler I did but a tractor and a trailer with them and they beat any commercial lender I could find. I bought the trailer from a commercial lender, and they couldn't or wouldn't beat the interest rate from the bank. Just a thought
     
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.