How to get Commercial Truck Financing

Utility Truck Financing: How it works and finding the right lenders

Small business owners are no stranger to overcoming challenges. They’re a scrappy bunch with big dreams and aren’t afraid to take action towards their goals.

However, when those pesky roadblocks eventually appear Kapital Venture is here to help. We represent small business owners like you, get the financing you need.

Often, our clients come to us looking for an alternative financing option for their utility truck or fleet of trucks. After being turned down at a dealership, many folks don’t know where to begin to look for the funds they need. That’s where we step in to help

Check out these related articles

Service trucks are often one of the most important and costly assets a small business may require. If you are not paying for your utility truck or fleet of trucks upfront, then you’re going to have to weigh your financing options. It’s important to understand all the factors that go into the financing process to be able to secure the best options for your business and put your best foot forward on an application. 

How hard is it to finance a utility or service truck?

One question we receive often is how hard is it to finance a utility truck? The answer comes down to how prepared you are as the business owner going into the financing process.

A strong applicant will have been in business for at least 2 years, have a credit score around 700, will have saved 0-10% for a down payment, and be a homeowner.

If you don’t fit these criteria, it’s still possible to find financing for your truck you just might need a few more deliverables. If we encounter a lower credit score, and if you have not been in business for more than 2 years you may need to utilize a co-signer. Preferably someone who part of your business or an immediate family member who has better credit and income.

The down payment may be higher (up to 20 +% depending on your credit). If your business entity is a limited liability company or a corporation, that will help your application to appear stronger and less risky to lenders.  Keep in mind that the more prepared you are upfront for the application process, the more streamlined and easier it will be. 

How much does a utility truck cost?

  • In preparation for financing your service truck, you may be wondering how much this is going to cost While each case is going to vary based on the cost of your utility truck, your credit history, the age and financial state of the business, and the state of the vehicle, the interest rates will vary.

At Kapital Venture, we make the process for financing your utility truck or fleet of trucks as streamlined and simple as possible. We are partnered with many lenders and can get you approved to finance a purchase or lease a truck within 48 hours. 

Have more questions about our process and how to get financing for your utility truck?

See our most commonly asked questions here.

CALL TODAY 737-717-3100