FINANCING FACTS
MUST KNOW’S BEFORE FINANCING By Jeremy Tsakiris – Alliance Funding
F
inding the right financing is so crucial in the towing industry especially during these challenging times. Often it can make or break the cash flow and profitability of the business. With so many companies and dealer financing options out there, the industry can be enmeshing and mind boggling for owners. To bring clarity for good decision making, I am highlighting key factors that I have learned through my twenty-one years of truck-financing experience that can help guide your choice of a finance partner.
Support Availability, Not Distancing It appears this world is trying to operate with minimal human contact. Though this may be helpful on the spread of infection, it is not helpful from a finance service-provider standpoint. Do yourself a favor and choose a partner that will answer the phone or will promptly call you back. When you are expanding your business or replacing needed trucks 72
Tow Professional | Volume 10 • Issue 9
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which have gone down, you need a finance partner that is knowledgeable, efficient and, for sure, available. Helping you to navigate quickly through processing and titling, the right support will save you needless aggravation and help your business get where you are taking it. Combine this with a finance manager whose character and experience you can trust, and your mind will be at ease. We have received feedback from repeat customers whose have experienced this: “Jeremy is a stand-up guy and has been financing my equipment for more than seven years. I have never found anyone so willing to help the customer.” Mark Denson- Onsite Towing, Houston, Texas.
Direct Lender Over Broker Another key factor that I have experienced is to find a finance company like Alliance Funding that is a direct lender on the balance sheet as opposed to a broker. Although a broker can
