Biz2Credit Helps Keep Trucking Company Rolling with Fleet Expansion
As the U.S. continues to rely heavily on imported goods, service companies engaged in the movement of these goods continue to thrive. Lexanic Transport and Logistics, Inc. is one such company. Located just minutes from the Port of Long Beach, California, Lexanic transports overseas shipping containers from the port to distribution centers throughout the southwest.
Lexanic counts major retailers Home Depot, Kohl's, and Harbor Freight Tools among its client list. Offloading of ships and transfer to trucks happens quickly, so having sufficient resources available when a ship comes into port is critical.
The company needed to expand its fleet from 30 trucks to 40 trucks to meet the growing demand and provide fast service.
Expanding the fleet by ten trucks required a significant capital investment - a $150,000 down payment. Company owner Jaime Montes knew that obtaining funding through a traditional lending source would take more time than he could wait. He turned to internet to explore other funding options and quickly discovered that Biz2Credit could help him in getting the desired loan.
"It looked like they might be able to help," says Montes, "and I was right." After completing the online application, Montes was contacted by Biz2Credit case manager Corey Falkin. In addition to the application, Montes supplied his company tax returns from the last several years.
In just three short weeks, Biz2Credit was able to arrange a small business loan of $150,000.
Montes was pleased with the quick response time and the service he received at Biz2Credit. He is currently exploring additional lending opportunities with Biz2Credit as he reassesses his company's freight factoring relationships.
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