Start Up Funding

Start Up Funding
Posted: Wed Oct 31, 2007 9:58:04 PM

Jake - I want to start up an owner/operating company and need to find a source for start-up funding.  The permits, etc. are not a problem, what I need money for is insurance and operating expenses such as fuel, etc.  My parner is an owner/operator for 15 years and I have worked in a transportation office from dispatch to payroll to safety for 6 years.  I believe we have the resources, such as contacts for loads, knowledge base and a few o/o that already want to sign up with us.  All I need at this point is the financing in order to get our authority and get things rolling.  Your assistance would be much appreciated. 

Thanks - Pam

RE:Start Up Funding
Posted: Fri Nov 2, 2007 7:50:22 AM

Pam:

I am kinda confused. You stated you want to start an owner operator based agency. Then you state you need money for fuel. That is the owner operators concern. The other issue you stated was for insurance. Most if not all companies any more are on gross receipts. You pay a percentage of the gross revenue your company produces quarterly. The cost for authority has came down tremendously in the past years. I feel safe saying you can get your own authority by doing it yourself  for around $500. My suggestion for funding is to go to your local bank and get a open line of credit.