In business, you must expect the best but be prepared for the worst. That’s why FedEx ground contractors should get a line of credit…just in case.
When many FedEx ground owners start their business, they believe that everything will be simple and straightforward. The FedEx business model has been proven and most of the hard decisions have already been made for you. However, challenges and troubles do happen, and you might need a line of credit to get through them.
What All FedEx Ground Owners Should Know about a Line of Credit
For all types of businesses, including FedEx ground owners, capital is king. A line of credit can be an ideal source of short term business funding.
The line of credit can be used to handle uneven cash flow, make payroll and manage emergencies such as equipment breakdowns. However, trying to get one from a bank will leave you frustrated and empty-handed.
Traditional banks have numerous rules about collateral and credit scores. This makes it difficult for the average FedEx owner operator to qualify.
In addition, they can call your business bank loan at any time. As a result, they can require payment in full, based on the terms of the note. You should also be aware that banks require personal guarantees by the business owner.
Where Should FedEx Ground Owners Go for a Line of Credit?
Existing FedEx independent contractors can get a line of credit from Financing Solutions (www.financingsolutionsnow.com). They are one of the leading providers of route financing in the United States for existing Fedex Ground contractors.
At Financing Solutions, you can get a line of credit up to $150,000, which stays in place for 12 months and renews yearly. Best of all, you only make payments on the money you actually withdraw, making this an inexpensive backup plan.
They understand the unique challenges of FedEx ground owners and will work with you to get the financing you require. In most cases, you can get your cash the same day you apply.
What You Should Know to Be a Better FedEx Ground Owner
No matter what kind of business you own, you should always be looking to do better. FedEx ground owners especially may be seeking advice on how to handle the changes happening within the organization.
One thing you must do is pay attention to details. There is a lot riding on your shoulders, such as maintaining vehicles, training drivers, paying your own taxes and new rules. Hiring the right personnel the first time is an important part of managing your business successfully. Carefully inspect any used vehicles you want to purchase. It is also vital to understand all the rules, such as driver uniforms and vehicle decals, to avoid costly deductions.
Additionally, there are more than 30,000 drivers, workers, managers and helpers working for FedEx. Tap into them for their insight and experience. For example, someone else might have found a better way to pack the truck that you haven’t thought of.
The most crucial part of improving your business as a FedEx ground owner comes in knowing how to access a working line of credit for a FedEx ISP. This you can get from Financing Solutions. They have the financial products you need to grow and excel.
Financing Solutions LLC is not endorsed by and is not recommended by Federal Express Corporation and Fedex Ground. Financing Solutions LLC is not sponsored by, is not approved by, is not associated with, and has no connection whatsoever with Federal Express Corporation or Fedex Ground.