Business loan for start up O/O?

SBA loan looks really good on your Business credit. Try them the interest rates are good.

 

be a driver, learn the system by being a driver, save your money and do it right.

Having to finance a complete system with no experience is a failure.

 

I agree with @Ridgeline
This is a recipe for disaster and I personally am one of the members here who most always gives posters the green light and don’t listen to all the other BS sorta thing but going into debt before you go into debt???

Not a good plan.
Actually not a plan at all

 

This may benefit the repossession man putting all you eggs in one basket.

What happens when you have an unexpected interrupted cash flow and I owe, I owe, but out the door I can't go...

 

I have never heard of anyone doing it like that. And frankly I don't think a bank would loan that amount of money even with excellent credit. Trucking has a very high failure rate.

 

When I bought my first truck I went to my bank. I had enough in the bank to write a check for the amount of the truck, and that was the ONLY reason they gave me the loan. And I have an 850 credit score.

 

If you are a true business type individual.

Old school, #### the torpedoes, I will not fail, you may have a chance.

If not, you have zero chance.

The learning curve is tough, and extremely unforgiving.

You really want to have no, or as little debt as possible.

One of the main reasons for this is that if you are constantly in need of money, you are going to take any load for any rate, which is just a slow death rather than a quick one.

Do you have any truck ( tractor ) savvy???

If not, you are going to have to be extremely blessed to start out.

 

850 PERSONAL credit score is not related to a BUSINESS credit score. They're separate.

I didn't see where in the OP they said they had no experience. Certainly they seem to have no investment of their own, but it's not necessarily one of the many "I thought buying a trucking company was a good investment" clowns.