Little-Known SBA Loans Can Fuel Trucking Companies’ Growth

Unlike a conventional bank loan, SBA loans allow borrowers to pay back the money over a longer period of time, which makes monthly loan payments lower. That conserves cash.

“Trucking is a very capital-intensive business,” said Maggie Ference, senior vice president of business banking at Huntington National Bank, a top SBA Lender. Paying off a loan with smaller payments over a longer period of time “allows for more organic cash flow back into the pocket of the business,” she said.

Although the loans are not as well-known among trucking companies as they are among some other businesses, motor carriers have taken advantage of them.

To read more about how SBA loans can help your trucking business, click here for the full article on Trucks.com.

Image from: Trucks.com & West Coast Warehousing & Trucking

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