Many businesses across the United States experience fluctuations in sales throughout the year. These companies are known to have seasonal business, a status that is determined by the type of product or service offered and the time of year in which that product or service is sought after by the general public.
If you’re running a seasonal business, cash flow lessens certain times of the year, but your business expenses do not. You need overhead to stock your inventory, hire seasonal personnel, and most importantly, keep the lights on. In addition, vendors require payment at the end of the season, when your working capital is significantly less.
The question is – how can your seasonal businesses remain profitable? The answer – seasonal business financing. These short-term business loans provide a number of benefits to seasonal businesses, including:
Whether you own a nursery or run a snow plowing operation, Liberty Financial can help you obtain the financial support your seasonal business needs. Contact us today for more information.
A trucking business has the potential to generate a lot of money, but getting started can be costly. From leasing trucks and/or trailers to the additional expenses of:
There are a few ways to access the trucks and other machinery you’ll need to get started. Here are some of the best financing tips to get your trucking business up and running:
As a business owner, you shouldn’t have to jump through hoops to start your trucking business. Liberty Financial can provide you with a solution that works for you! We’ll help you obtain the tractor-trailer financing you need. Our process is quick and easy, and we can create a repayment plan that is tailored to your business model. Contact us today for more information on our commercial truck financing.
If you run a commercial operation that requires heavy lifting, a commercial vehicle can help. You might think that purchasing a commercial vehicle is handled in the same way as purchasing a personal vehicle, but a few other factors fall into the process. Learn more about purchasing a commercial vehicle and how a loan from Liberty Financial can help you achieve your business goals.
Commercial vehicles are expensive. For this reason, it’s extremely common to take out a loan in order to get your operation up and running quickly and efficiently. To obtain a commercial vehicle loan, you must first know which type of truck you are trying to finance. Different trucks have different rules and qualifications, making it important to be are aware of whether your vehicle is considered a transportation vehicle or a vocational truck.
Next, you’ll need to consider is a down payment. To determine how much you will need to put down on a truck, look at how long you’ve been in business, your credit score, whether you’re the owner/operator, who you are buying from, any cash reserves you may have, and the age of the truck to be purchased. Where you fall in each of the categories will determine how much or little you will have to put down. If you or your company poses some type of risk, the down payment can increase.
To give yourself a better idea of your financial standing, some good questions to ask yourself are:
It’s harder for new business owners to qualify for a commercial vehicle loan rather than for someone who’s been around and experienced some of the challenges involved. With that being said, a low credit score doesn’t immediately take you out of the running. Your credit score helps the company decide what your monthly payment is going to be, not whether or not you will qualify.
Age does matter when it comes to obtaining commercial vehicle loan. The older the truck, the more likely it is to break down and become a liability. Keep in mind that just because a vehicle may be cheaper, it doesn’t mean it will be worth the buy. Most companies are hesitant about approving a loan on a truck over 15 years old. To be safe, look for trucks 10 years old or less.
Learn more about truck and equipment financing or to sign up for a quick quote.
There is one aspect of running a business that you cannot avoid, particularly in the commercial industries. Businesses that require commercial machinery also require investments in the form of time, resources, and money. Most often, these business owners rely on loans or financing to cover the cost of the equipment needed to turn a profit.
Whether you are a startup founder looking to stock up your company with the bare necessities, or a well-known business owner wanting to replace your outdated supplies. Typically, banks use a credit score to determine whether or not a person is a dependable borrower. If you are a business owner with a low credit score, you may have a tough time being approved for a loan and obtaining the equipment you need to do business.
Liberty Financial wants you to know that you can still apply for a loan to finance business equipment with bad credit. Here’s how:
Apply with a co-signer. If you have poor credit, the first thing you should do when applying for an equipment loan or financing is to try to find a credible co-signer. If you default on your payments, it then becomes the responsibility of your co-signer to pay what is due.
Offer collateral. If you aren’t able to find a suitable co-signer, offering up collateral can help. Your collateral could come in many forms, including your property or any assets you have that are worth monetary value. These are used in exchange for a loan and as such, allow a lender to feel more secure in offering you financing. If you fail in making your payments as promised, they are able to seize your possessions.
Put down a large deposit. In an effort to look better to lenders, put down a larger down payment or security deposit. Doing so reduces the loan by a sizeable amount and will make the lender feel more secure about loaning the money. Only do so if you have the funds; if you put down too much up front and aren’t able to pay your monthly fee, it could have an adverse effect.
Show off your assets. If your business is already thriving and has started to turn a profit, use that information in your “pitch” to your lender. When you apply for a loan, show documented proof of such to your lender, as well as any sale projections or expected company growth. The better your company looks on paper, the easier it will be to obtain a loan for equipment.
Commercial business owners need equipment. If you’re a business owner with a low credit score, it doesn’t have to stop you from being able to afford the equipment you need to be successful. These tips will help give you the best chance at being approved for a business loan, regardless of your credit.
Navitas Lease announced the purchase of Liberty Financial in order to accelerate its entry into the vocational vehicle and related equipment marketplace.
Navitas will now expand its direct lending capabilities for vehicles in the transportation, construction, tree and landscape and other specialty industries. Liberty Financial headquartered in Hatfield, PA, brings an experienced staff and established partnerships.
“We were very fortunate to have Liberty join our growing organization. Their collateral expertise and proven leadership team was the perfect fit for what we were looking for,” said Gary Shivers, Navitas’ CEO. “With our financing capacity, systems and infrastructure, we feel that we can be a dominant force within this market niche.”
“We have been looking for a partner like Navitas that could help Liberty capitalize on its proven ability to serve our markets and ultimately improve our small business customer experience,” said Tom Madonna, president of Liberty Financial. “Navitas provides us with the financial strength, additional products, marketing power and technology leadership that will assist us in better serving our customers while expanding our market reach at the same time. The combination of our two organizations will create a very compelling financing resource for the SMB marketplace.”
Navitas is a national equipment finance company based in Ponte Vedra, FL.
More than ever, business owners are searching for ways to make their companies eco-friendly. Not only are you doing your part for the environment, but you also end up saving a bit of money in the long-run. In addition, consumers and clients will begin to take notice of these green changes and respect the business for their environmental responsibility.
Keep reading to learn ways you can make your business green.
Follow these tips for promoting a greener work environment!
Starting a business is a wild, exciting, and invigorating journey that requires a lot on your part. Once you’ve succeeded in establishing a business, the next step is to nurture it and watch it grow. This might require hiring a team of people, or branching out into new markets. Whatever the case, these tips for growing your business will help you along your way.
Run the business you want. While you aren’t going to become the business you want to be over night, you should still run your business as if that were a reality. Evoking the confidence and success of the business you one day hope to have will help you impress current clients, attract new ones, and provide your employees with a sense of poise and purpose. Project your business goals each day to help push your company closer to success.
Maintain your confidence. Even when something unexpected happens or something goes awry regarding your business, it’s important to remain positive. When employees or customers see you panic, it can quickly send them into a panic, causing them to question why they work with you. A business cannot run without mishaps. It is how you choose to handle those mishaps that define how you run your business and what the future holds for it. Remain confident, even when things go wrong. Recognizing your mistakes and learning from them will allow your business to grow.
Separate your bank accounts. Keeping your personal funds in an account separate from your business income will help prevent you from taking from that account. You might think that because it’s your business, the money earned and placed into the company bank account is yours as well. Your business requires money, a resource, to continue to grow. When you take money from that account, you are limiting your business to any potential growth. Your business account should be used for just that – business.
Accept “no” as an answer. You are not going to succeed in every endeavor. Take each day in stride, and try your best to learn from your mistakes. What could you have done better to land that client? How can you communicate your message more clearly next time? A “no” from a potential client or investor allows you to evaluate how you are operating your business currently and see opportunities for growth.
Hire the right people. You may feel like you can handle your business on your own, or maybe even like you complete certain tasks the best, but really that’s not the case. In order for your business to grow, you need to hire and properly train the right people. One of the most positive signs of company growth is the need to hire new people. With the right talent on your team, your business will thrive.
Take a look at your competition. Understanding what your competitors are offering their customers and how they do day-to-day business can help you evaluate how you run your own business. It can also help you see potential areas of growth. Make it a priority to check into your competitors marketing strategies and/or new products every quarter. Knowing your competition is one thing, but looking at how they do business will give you a whole new edge.
Know which risks to take. Taking calculated risks (once you’ve evaluated the outcomes, of course) can help take your business to the next level. Consider all of the factors in any given situation, including threats and opportunities, before you make the decision to move forward.
Remember to always remain passionate about your product or industry. Your drive is what will ultimately make or break the successful growth of your business.
Boston, MA Dec 2-4 2015
New England Grows is a company that was founded by green industry professionals for green industry professionals. The GROWS expo is an educational conference targeted towards educating and connecting like-minded green industry professionals on the best tools and processes green businesses needs to transform their operation and their bottom line. Visit the New England Grows expo schedule to learn more about the daily events.
Phil and Brenda will be representing Liberty, joining RBG, Inc. at booth #2418. If you are attending the New England GROWS expo, stop by the Liberty Financial Group booth and say hello!
At the Liberty Booth, you can:
Pittsburgh PA Nov 12-14 2015
The TCI Expo is the world’s largest trade show and conference revolving around the tree care industry. The event is hosted by the Tree Care Industry Association, a group that began in 1938 as the National Arborist Association. Today, the TCIA is a trade association of more than 2,200 commercial tree care firms. The 2015 TCI Expo will feature a number of exceptional educational seminars, tree demonstrations, forums, and meet-and-greets with industry professionals.
The expo is the ideal place for arboricultural professionals to expand their industry knowledge, learn more about advances in equipment, evaluate new products, and take advantage of pricing discounts from hundreds of exhibitors! There will also be live demonstrations, giveaways, information forums, and roundtable events. Visit the TCI Expo conference schedule to learn more about the daily events.
If you are attending the TCI Expo, stop by the Liberty Financial Group booth and say hello! Phil, Earl, and Brenda will be in attendance. At the Liberty Booth, you can:
Liberty Financial Group is proud member of TCIA Partner’s Advancing Commercial Tree Care (PACT).