Financing for new entities is tough to find. Banks usually can’t help. And when you’re starting up, keeping cash rather than spending it on equipment is vital.
We like startups, and have a program just for them. We’re able to look at future potential as much as past history. We’ve financed millions of dollars worth of trucks for new businesses just in the last 90 days, and we’re always looking for more.
Here are some examples -
- A new VC funded startup, with zero days in operation. No personal guarantees available. We funded $3M in trucks to get them moving.
- An oil industry business with only 11 months in operation. Diffuse ownership, and no personal guarantees available. We approved $1M in new trucks.
- A small service business that had closed operations in the oil bust and restarted under a new name and corporate structure. We financed $200K in trucks to put them back in business.
The power of leasing -
Business has been leasing vehicles for more than seventy years. Nearly every large fleet in the country leases at least some of their vehicles, and they do it because it makes sense financially. Only leasing provides competitive financing and fleet management help in a single package. Look at why our customers lease -
- vehicle-intensive businesses should consider financing their vehicles someplace other than a bank for most financial flexibility, and to keep their bank lines open for funding operations.
- Ease of accounting. Vehicle lease payments are a regular, fixed monthly amount.
- No floating or adjustable interest rates. The payment is the payment, throughout the entire lease term.
- Leases help to stay within a company’s capital expenditures limits. Many banks limit a given customer’s capital expenditures as a part of the credit line structure. Leases generally don’t trigger a cap-ex event.
- Many corporations will allow leases of an asset that they will not approve a purchase on. Corporate purchasing departments use leasing as a tool to manage spending within corporate guidelines.