Resources

POSTED: November 16, 2020 // BY: Stew Gillmor

We know COVID-19 has had a major impact on our economy but like most things there’s also been some positives, in particular in transportation finance. Certain industries like e-commerce, home improvement, and construction has actually enabled trucking to do fairly well. Experts expect the holiday season e-commerce to be at record highs this holiday season. We have partnered with many local haul and regional type haul customers in the last half of year, taking advantage of our range of transportation programs offerings.

REGIONAL HAUL/VOCATIONAL CUSTOMERS:

• Look for a minimum 650 credit score and 3 years or more time in business
• Require 3 months bank statements on all deals and currently a COVID statement
• 0% – 20% down payments
• Terms up to 60 months

OTR CUSTOMERS:

• Look for a minimum 650 credit score and 3 years or more time in business
• Require 3 months bank statements, 2 years tax returns and currently a COVID statement
• 10% – 20% down payments
• Terms up to 60 months

STARTUP CUSTOMERS:

• Look for a minimum 700+ credit score
• Require 3 months bank statements, 2 years tax returns, business plan and currently a COVID statement
• 10% – 20% down payments
• Terms up to 60 months

SECOND CHANCE CUSTOMERS (VOCATIONAL AND OTR):

• Require 3 months bank statements, 2 years tax return and currently a COVID statement
• Require 25% down payment; this can be between cash and any commercial collateral that is owned free and clear
• Rates between 25% – 27%

Transportation Finance Solutions

Are you an owner-operator, multi-tractor company, or heavy haul provider? We have worked with drivers throughout the Midwest looking to get out of the “company driver” gig as well as the 100+ tractor fleets. We work with individuals and companies to provide the best transportation finance solutions for tractor/trailer combinations across all areas of transportation. If you are interested in learning more about KLC’s transportation programs offerings and financing options, contact Stew Gillmor for more information at stewart@klcfinancial.com