What Business Loans Are Available for Fedex Delivery Contractors
No matter what kind of small business you have, cash is still king and there will come a time when you need to borrow money and you have to know where to get it. For example, if you are a Fedex delivery contractor, you may need to know what business loans are available for you.
Some entrepreneurs believe that they are out of luck if they need access to fast business funding. However, you may be pleased to learn that there are business loans available for Fedex delivery contractors.
Who Offers Business Loans for Fedex Delivery Contractors
There may be a misconception that Fedex delivery contractors never need business loans because their needs are taken care of by the Federal Express company. Nonetheless, they are still classified as small business owners and, as such, have many of the same requirements for quick business loans as any other entrepreneur.
As an independent contractor, you would be responsible for getting your own business loan from a bank. This means that, when deciding whether or not to grant you the loan, the bank will rely on your credit history, tax information, and collateral. So, if your credit rating and paperwork are not in excellent shape, you will most likely be denied.
Additionally, banks are reluctant to grant business loans for route-based businesses. In fact, most small businesses are unable to qualify for a business loan from a traditional bank.
Are There Alternative Sources for Business Loans for Fedex Delivery Contractors
Most lending institutions might not understand the Fedex delivery contractor operation, and therefore they are not always willing to offer them business loans. However, Financing Solutions (www.fundmypayroll.com) is different.
Run by two serial entrepreneurs, Financing Solutions understands the distress and difficulties experienced by small business owners. As a cash advance company, they can provide you with the cash you need right now for your business.
They can supply the money you need to handle the unique challenges of being a Fedex delivery contractor, such as purchasing new routes and financing trucks or tractors. Best of all, there is no long term commitment. You can repay the funds in a few weeks or months, when your cash flow situation improves.
The Advantages and Disadvantages of Being a Fedex Delivery Contractor
Many people have taken advantage of the entrepreneurial opportunities offered by Federal Express. Of course, there are also disadvantages. For instance, since it is your own business, you assume most of the risk. Also, if you run into major problems or cannot fulfill your obligations, Federal Express will take back your routes, meaning all the money you invested will be gone.
Nevertheless, it is great to be treated as a business owner instead of an employee. It is also convenient that Federal Express offers different levels of contractor prospects for every kind of entrepreneur. You can do a little, by just having a few ground routes, or a lot, with home or even international routes.
One of the best advantages of being a Fedex delivery contractor is the ability to receive short term business funding from Financing Solutions. Use them to help you take your business to the next level.