Trucking and Transport Companies Can Use SBA 504 Loans to Expand Their Businesses
Once upon a time, America ran on railroads. While they do still play a vital role in the transportation industry, trucking companies are now the backbone of the nation. For those looking to get into the trucking and transportation sector, there has never been a better time. With $195 billion in revenue for 2018 in the long-haul segment alone, there is immense demand for trucking services throughout the United States.
Common SBA 504 Loan Uses for Trucking and Transport Firms
Entrepreneurs looking to get involved in the trucking and transport industry can benefit from SBA 504 loans. These are designed for the purposes of buying real estate, as well as building or buying buildings, and even purchasing necessary equipment. This allows business owners to purchase real estate and improve it to become warehouses, or to purchase existing warehouses and improve them. Equipment such as conveyors, racking and shelving, trucks, tankers, trailers and the like can also cost tens or even hundreds of thousands of dollars, all of which can generally be funded with an SBA 504 loan.
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