Commercial Loans | Trucks, Trailers and Equipment

New Year, New Opportunities

The new year presents a clean slate – we’re four days in which means there 361 opportunities to make 2023 your most successful year ever. However, if you do what you’ve always done, you’ll get what you’ve always gotten.

What are your goals in 2023?

  • Grow?
  • Maintain?
  • Strategically scale back?

new year's resolutions for truckersIf you’re looking to start or expand your business in 2023, follow these seven steps for success.

  1. Know your credit score and monitor it regularly – we like Credit Karma because it’s effective and free.
  2. Maintain clean bank statements, avoid overdraft fees and save cash for the down payment because depending on your situation – lenders can require up to 40-percent down of the financed item. Borrowers just getting started or those with less than perfect credit are typically required to put more down.
  3. Pay bills on time – it’s best to pay in full, but if not possible, then pay the minimum and avoid late payments.
  4. Own something! It’s best to own a home, but if not then own land because lenders like owners.
  5. Establish an LLC or corporation and start a “time in business” clock.
  6. Separate commercial and personal spending – use the commercial bank account for business expenses and personal bank account for personal expenses.
  7. Use a credit repair service to clean up credit history and have the bad credit marks removed.
    If you have questions about any of the above – please ask and we can help. And if you’re looking for a credit repair specialist – we have someone we work with regularly and we’re happy to make a connection if interested.

With a plan and discipline, 2023 can be your most  profitable year ever.

If you have questions about any of the above, give us a call, we can help.