A self-employed individual with a bad credit score will have a number of details to consider before applying for a semi-truck loan. Before you apply for semi truck financing with bad credit score, or even a good one, you will have to acquire reports from various third parties like your bank, creditors, your accountant, as well as provide relevant information such as how long you’ve been self-employed and your relevant experience in running a truck business or driving for a carrier. These details will help us get a clearer picture of your semi-truck financing options. What you need to do first is consider the best financing options for your business situation, especially with tax deductions on the purchase costs, as well as running costs and loan repayments. You can ask one of our truck and trailer leasing experts for information about each of these if it’s helpful.
How Can You Improve Your Position?
In order to make this process as smooth as possible, you should provide us with as much relevant and accurate information as you can. Based on the provided information, we will offer you the best semi-truck deal as well as the best interest rates and agreement terms we have available for your situation. The monthly payments and the amount you will be allowed to borrow largely depend on your current situation, your credit history and your industry experience. This means that you will be required to provide proof that you can meet the monthly payments. You will also have to disclose your recent financial statements, possibly profit and loss statements and any projections on the impact of the funding. When you can provide as many details on these points prior to our discussion regarding the truck loan, your chances of getting the best possible deal will vastly improve.
Why Do We Ask For This Information?
Understand that we ask for all this information in order to understand the potential of your business and be able to offer the best possible funding deal that will benefit both sides. These checks are a routine, and if you can’t provide some of the asked pieces of information do not hesitate to still contact us. These points only help us establish your profile so that we can offer you a deal which will not result in an unpleasant position for either side. Therefore, do not try and omit any relevant details as our investigation will likely uncover them. If you come to us completely clean, your chances of getting the best semi-truck funding deal tailor-made to fit your situation will vastly improve and you will give off an impression of a serious owner-operator.
Experience is Your Most Valuable Asset!
Any experience you may have in the trucking industry or in being an owner-operator will go a long way with getting the best deal. If you are an experienced owner and your company has potential to grow, this will only count towards you getting the best deal. An experienced owner who has explored all their options and turned to financing is something we respect, as every seasoned entrepreneur knows that you have to spend money in order to make more money.
The Premier Semi Truck Financing for Bad Credit Business Owners
Go Capital provides semi-truck funding nationwide, across all 50 states. Our staff has the experience and knowledge in both financial and trucking business fields. We take pride in being a long-term financial partner for many clients. We will work to match your potential and strive to deliver the best deal fit for your business. Contact us through our website form or at (855) 396-3600 for any questions or to schedule a call from a financial specialist.