Commercial Trucking

truck

 

The US trucking industry generated more than $700 billion in 2017, a remarkable number that demonstrates how vital this industry is for the wellness of the American economy. It is estimated that more than 7.4 million people are employed in the trucking and transportation industry. The trucking industry accounts for the majority of freight in the country, passing other methods by air, land and sea. Although industry growth is predicted to rise around 3.4% from 2018 to 2023, those who are in the industry or are just starting out have to face the obstacle of financing their own vehicles and equipment. Some of the business costs include:

 

  • Purchasing vehicles
  • Regular maintenance
  • Parts replacements
  • Repairs
  • Payroll for drivers
  • Certification and licenses
  • Gas expenses
  • Insurance

 

 A single commercial truck can cost upwards of $100,000 per vehicle; add to this the costs of repairs, part replacements, and regular maintenance, and one can see how many owners struggle with financing their commercial trucking business. 

Opportunity Business Loans can help you find the best deal when it comes to financing your commercial trucking business. Secure your loan without the hassle of visiting multiple banks and lenders. With just one quick application, you can get connected to a large network of lenders who can provide you with the funding you need to successfully grow and operate your commercial trucking company. 

 

 

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