Trying to by a Peterbilt Truck?

Question

my husband has good credit and has his cdl. He has worked at a nuclear plant for years but the layoffs are getting too many and stressing us out. He went to his bank and they told him they dont know if they can lend him the money since these arent used for personal use. He is wanting to contract himself throughout our community (which there is more than enough need). Can you give us some options.

Answer 1

You should look at getting a small business loan. If you can present a bank or credit union with a solid business plan including data and potential customers, you may have a good shot at making this happen. Be able to prove that there is a need for your service. Look at other alternatives, too. I'm not sure if you are looking at a dump truck or tractor rig. Maybe buy a smaller truck that could be considered a personal vehicle (1-ton box truck or flatbed for example), build your business, and if it looks like you can make money, by all means branch out and get the heavy duty truck.