Introduction The dream of owning and operating a successful trucking business often begins with a critical decision: securing the right financing. When a new owner-operator or fleet manager begins the search for a truck loan, the first number they typically focus on is the interest rate. It’s a natural inclination; we’re conditioned to seek the…
Introduction When it comes to purchasing trucks for your business in Australia, choosing the right truck finance solution is just as important as selecting the right vehicle. Whether you’re an owner-operator, a growing logistics company, or starting out with an ABN, the process of securing truck loans can be complex, time-consuming, and expensive if you…
Over the last 5 years, an increasing number of customers are applying for finance via online sources. There has been a definite shift from the traditional method of walking into the local bank to discuss funding options as has previously been done for many years. In times past, customers had access to only major lending…
Events of March to April 2020 Recent measures put in place by the Federal Government have not been seen in Australian Society since the Great Depression. Social distancing and the total shutdown of bars, clubs, cafes and restaurants (to name a few) will invariably impose a huge economic cost on many small to medium businesses.…
People should carefully consider the pros and cons of either working for a boss or to start their own business. This article will run through what should be considered before making a decision either way and what steps need to be taken before starting a new business. Pros of Working for a Boss Stable income…
The below work source letter or work intent letter is an example only and does not represent any actual company in Australia. However, finance companies might request a work source letter in the following situations; New start business When an additional truck is being purchased and serviceability is tight based on historical financial statements Please…
In short, the answer to this question is yes you can – BUT it all depends on which financial institution you apply with. Generally, the big four banks would not give a truck loan to anyone that does not own a house, unless the customer is contributing a large upfront deposit (30% or more) or…
A Truck Finance Broker obtains finance on behalf of their customers, so they can make purchases of trucks or heavy equipment. A Truck Finance Broker will gather information from the client and then ascertain which financial institution is most likely to approve the funds required. Once the loan is approved and the transaction is settled,…
One of the key areas required to succeed in a transport business, is proper management of the working capital position. If working capital is not managed successfully, a business will not be able to meet ongoing obligations such as wages, fuel accounts, mechanical accounts, taxation and other business-related expenses. What is Working Capital? Working capital…
In recent times, there has been various leading economists and other social commentators around the world, talking about the affect Artificial Intelligence (AI) will have on our labour markets and many different sectors of the economy. This AI technology is said to not only significantly impact on Australia, but for all Eastern and Western Countries…