Need quick access to funds

CAG Truck Capital used to do this. Don’t know if they are still around, my personal history with them is too complex to explain here, but I don’t hate them

 

You have to think of it as if you were loaning someone money. Would you just give it to them? Nope, and if you would you would be crazy. They have to verify your income, expenses, credit and everything else before they take you into consideration. It's just the way of doing business. Nobody will loan you money without verifying it can and will be paid back.

If they put a lien on your truck, it will be recorded. If you try to go for even more money, they will most likely deny you. Your rig will be used as collateral in case you can't pay.

On another note, have you tried a local credit union? See if they'll help you.

Good luck to you.

 

I don’t believe they could legally do that, but it depends on the laws of the state the lender is located in.

 

Maybe I'm missing something here....how can one borrow their way out of the hole?? Seems like a short term solution to a long term problem.
Not a personal attack...guess I was raised differently

 

Maybe had a string of bad luck and not op fault?
Hell I just had a real bad last 3 months. Tow truck ruined my transmission. Was down for 55 days than the replacement transmission failed after a week and down again for 10 days.

I am gonna be fine but if this happened to someone starting out it would most likely end them.

 

Unless you are a mega company, all of your business debt is personal debt. You have to personally sign for any loans or CC. It’s not like you can just close the business and walk away from any business debts you have.