How To Prepare
- Dress Appropriately
- Have A Business Plan
- This Must Include Financial Statements
- Balance Sheet
- Income Statement
- Statement of Cash Flows
- Pro Forma P&L Covering At Least 3 Years
- Put Yourself In The Banker’s Shoes
- Money Talks, Show Verifiable Numbers
- Prove You Will Make a Return on Their Investment
Your Local Bank
From the very start of your trucking company, you should foster a relationship with your banker. Talk to them about your plans for growth, find out what their requirements are to qualify. They have access to your accounts and will know if you are a stable business. This relationship is your best option for securing a line of credit from a bank.
Credit Union
Search for your local credit union here:
Government Resources
The SBA offers numerous loan programs to assist small businesses. It is important to note, however, that the SBA is primarily a guarantor of loans made by private and other institutions and does not offer loans to small businesses.