Small Business Loan – Covid New Business

 

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Small Business Loan – Covid New Business

Questions on how to qualify for business loan.

I’ve been working on getting contract for courier service business, I haven’t filed business paperwork, now I have locked down contract with large company.

I have issue now, I would need to apply for initials costs such as MC / DOT registration, long story short $10k would get about 5 trucks / crews going and employing 15+ people. I already ran background tests. Can Covid small business loan work in my predicament ? Due to COVID I haven’t filed because I wasn’t sure of what businesses can run, but logistics is essential.

Even starting with one truck would start revenue coming in immediately. Contract allows up to 50 trucks / crews to start with.

Looking for any advice someone can provide, any helps.

Guess I should have filed sooner, we will see.

Small Business Loan – Covid New Business

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One Reply to “Small Business Loan – Covid New Business”

  1. I worked with someone in a similar situation before. We did a lease agreement. I bought the cars / trucks with my own cash and leased them out to him for 3 years with options to renew. I made a good amount of money and he was able to keep expanding without much hindrance. Because it’s not a loan he can lease an unlimited number of stuff from me as long as the money made sense for me.

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