TRUST CAPITAL Blog

Having problems with financing your tow trucks or towing vehicles?

It is a known fact that new business owners have a harder time securing financing, than those who have been around for a while. As the first year of any business is always the riskiest, startups can expect to experience several rejections before being approved. As a start up, you have to make sure you are prepared to stay alive with money saved up or customers lined up for projected revenues. Otherwise what do you got? 

This is even more difficult for those who are looking to start their own towing business.

Purchasing new tow trucks is an extremely costly endeavor, with maintenance costs mounting higher each year. Lots of wear on tear on these trucks with salt and miles. 

This leads to the question: Can your working capital still support your starting a tow truck business with these expenses? You've got to support yourself, possibly family, employees, rent

If you’re having financial problems in your startup towing business, then you’re in the right place. In this article, we will talk about starting a towing business with the help of tow truck financing.

When you’re looking for tow truck financing, it can be difficult for some businesses to get the funding they need to purchase or lease a tow truck. If you’re a newer business, you may have noticed it’s even more challenging to successfully apply for and receive outside financing for a new tow truck.

Thankfully, it’s not impossible to get funding in most situations, as long as you know where to look and what you can do.