What is equipment financing? Equipment financing is an assist-based loan type for small businesses. It was designed to aid in the purchasing of machinery and the necessary equipment needed to run your business. The loan can assist in the purchase of anything from a cargo van to commercial vehicles to other types of commercial trucks. […]
Are you looking to buy an excavator but don’t have the cash to buy it outright or want to save your cash for operating expenses, payroll, etc…TopMark Fundng can help! We specialize in equipment financing.TopMark Funding is a top-rated equipment finance company with decades of experience financing excavators and heavy construction equipment. We offer excavator […]
Hyzon Motors joins other trucking technology companies such as Nikola Motor Company, Hyliion, and TuSimple by allowing the common man to buy ownership in the company. Here is a summary of the venture and how it became public.DetailsHyzon (a portmanteau of “hydrogen” and “horizon”) Motors started as a part of Horizon Fuel Cells back in […]
With Tesla delaying the Semi for another year, it appears to be that the Nikola Motor Company (also named after electrical inventor Nikola Tesla) is the frontrunner to get a fully electric semi-truck to market. Their chances just increased immensely when they finished performing a reverse merger with VectoIQ Acquisition that will also raise at […]
Are you looking for a semi-truck for sale and not sure where to shop? We’ve put together this list of the most popular online semi-truck and commercial vehicle classified sites. Here are the top 5 best semi-truck sites. From 5 to 1. 5. Arrow Truck Sales Arrow Truck Sales, Inc. was founded in 1950 and […]
Message To Our Dealer Customers We hope you and your family are in good health. During this uncertain time related to the COVID-19 pandemic, we have a special message to our customers. We want to assure you that TopMark Funding remains open and is actively working to originate transactions and we wanted to provide you […]
To Our Valued Customers We hope you and your family are safe and in good health. During this uncertain time related to the COVID-19 pandemic, we want to assure you that TopMark Funding remains open and ready to serve you. We recognize that with the constantly changing situation around the world, this is an unprecedented […]
Every year millions of U.S. businesses utilize some sort of working capital product to help grow or sustain their business when they need additional cash flow to do so. Due to the natural risk that is present when lending what is essentially cash, working capital can be expensive — however, expensive doesn’t mean it can […]
In another episode of coronavirus hysteria, Mid-America Trucking Show organizers have announced that they are cancelling the 49th annual event due to the pandemic. The announcement comes two weeks before the event was to take place, March 26th, 27th, and 28th. “It is with a heavy heart and deep regret that we announce the cancellation […]
One consistency in the trucking industry that seems to be as common as the sun rising in the east is that February is the month of the year with the lowest national average spot rates. In a way, it is refreshing to see the average rates in mid-February be only a slight drop, with just […]
It is no surprise to most people out on the road, regardless of how many wheels are on their vehicle, that one of the biggest obstacles to implementing electric vehicles is the lack of infrastructure. With limited range and even more limited refueling stations across the country, electric vehicles, especially trucks, are hardly viable. Germany-based […]
When it comes to financing anything from a new truck to a used trailer, your FICO credit score plays an important role in the terms you get. Let us look at the financing statistics for transactions done in 2019 to see just what a better credit score can do for you. The Credit Score of […]
With the ELD Mandate requiring truckers across the country to track and maintain their hours of service automatically, truckers must be especially cautious that they can find a proper overnight parking spot in time. One type of location that works are rest areas that have parking spaces for big rigs. Here are the number of […]
When asked what one thinks is the most common injury a trucker may experience on the job, one might assume that the answer lies in collision-related injuries. The truth, as obtained by the National Institute for Occupational Safety and Health (NIOSH), is a lot less interesting. Truckers’ most common injuries involve muscle sprains. This problem […]
Buying a semi-truck, whether you are buying it for yourself in the jump from company driver to owner-operator, or for an employee as you jump from owner-operator to fleet owner, will be one of the biggest decisions anyone makes in their trucking career. It is not a decision to be taken lightly. It costs money […]
Credit Score and No Down Payment “I want to get financing for my business equipment. My credit is Poor/Fair/Good/Very Good/Excellent, and I want no down payment, or barring that, as low of a down payment as possible. What options are open for me? How high of a credit score is needed for no down payment?” […]
Assembly Bill 321 was approved by California Governor Gavin Newsom on September 5th, 2019. It amends Section 63889.5 of the California Revenue and Taxation Code to expand the Sales and Use Tax exemption to certain new, used, and reworked trucks and trailers. It sounds good on paper, but the state of California has made obtaining […]
We here at TopMark Funding covered WEX fuel cards as one of the best fuel cards in the market, but it appears there is a downside to being the most popular fuel card in the country. On the night of February 4th, 2020, WEX cards were not accepted at diesel pumps across the country. Hitting […]
On September 19th, 2019, the governor of the most populous state in the country signed Assembly Bill No. 5 into law. It went into effect at the beginning of 2020 but has since been blocked by a federal judge as of January 16th. While originally intended to prevent worker exploitation in the new “gig economy”, […]
Vehicles are constantly vilified in the media, or at least so it would seem. Every day there is news about its impacts on the environment: air quality, greenhouse gases, and other effects. Another less mentioned but still valid crisis is that various forms of fossil fuels are not a renewable resource: humans use them at […]
Every year the Commercial Vehicle Safety Alliance (CVSA) has a three day, seventy-two hour International Roadcheck, where certified inspectors perform inspections on commercial vehicles and trucks across the United States, Canada, and Mexico. It’s like a convention, except nationwide and a lot less fun. International Roadcheck 2020 Facts and Conjecture Usually, the International Roadcheck happens […]
In early 2019, Volvo Group, the parent company of Mack Trucks, started mysteriously posting job listings to hire engineers in the Salem/Roanoke area of Virginia. Volvo declined to comment about the job listings other than to say they would fulfill “future business needs”, but Jon Harris of the Morning Call predicted that Mack Trucks may […]
Just when you thought the FMCSA was done regulating, they toss on even more regulations. This time it’s with the FMCSA Drug and Alcohol Clearinghouse. The website is loaded with information on the new database, and you really should go there if you want to obtain a full understanding of the program. For those who […]
In an earlier article, we discussed the credit statistics of owner-operators who apply for credit and the connection between FICO score and the likelihood of an owner-operator getting the deal they want. We are going to ramp things up this time around and compare the credit and funding of owner-operators versus fleet owners and see […]
What is a Soft Credit Pull? In regards to credit checks, you have probably heard of soft credit checks and hard credit checks. What are the differences between them? Soft Credit Inquiries Are Private When a person or organization obtains a soft credit pull, only they (and anyone they tell) will know it ever happened […]
What Every Business Owner Needs to Know The IRS tax code is extremely complicated, fortunately, Section 179 is not. If you have ever done taxes for a business you own, you most likely have already claimed a Section 179 Deduction and simply do not know its name. In this article, we will go over Section […]
The Sneaky Tips of Starting a Small Business Starting a small business. Overwhelming might be the understatement of the century. But you’re out there doing it – and that’s more than can be said for most people. You’ve probably searched the internet extensively for tips on how to start and run your small business. […]
The Small Business Lending Index has some good news for you as a small business owner. Small business loans have reached their highest approval rate yet. The strong economy and overall optimism for small businesses is to thank, and your probability of getting a loan has never been better. Biz2Credit CEO Rohit Arora directs […]
You need new equipment. You have a tight budget. But you can’t work with outdated machines. What are you supposed to do? There comes a point for every business where you eventually have to think about leasing, financing, or taking out a business loan. It’s time to think about why you should consider equipment leasing. Top […]
Short Term Business loans. What kind of associations do you make when you think of them? Five years, ten years of contract? Or one that you feel like you’re going to be paying back for as long as you live. So, what would a short term business loan mean for you? These are loans that […]
Time to Focus on Getting a Business Loan There are a lot of ups and downs in the small business lending market. There are recessions, recoveries, and times of increase. But through it all, you need a business loan you can trust. Luckily, the landscape right now is looking good. It’s a great time […]
Avoid Business Loan Rejections: Your financial standings are the most crucial part of your business. You know you need to be set up to get a business loan. As a small business owner, there are probably some things already standing in your way. But don’t let yourself be your own worst enemy. There are many […]
What do drivers need to think about their personal conveyance time? And how does ELD laws effect that time? Well, they’re being told not to overthink. Which is a good thing. Personal conveyance time is time that a driver is spent traveling to a location to rest, moving a truck during off-duty time if it’s […]
The Methods of an Effective Loan Borrower Congrats, you got your business loan! Now, you want to be the most effective loan borrower that you can be. That way, when you go to borrow in the future, you’ll be approved right away because you were so successful with your last venture. You’ve already got […]
Equipment Loan Myths Busted: There’s a lot of conflicting information out there. When it comes to getting the equipment loans your business needs, you want to get right to the heart of the matter. So, let’s take some time to sort through all these equipment loan myths and tales. Hey, you might think you know […]
It’s safe to say a lot of people wouldn’t hesitate to take a job that pays $300k a year. Do you want that opportunity? This is the question that Amazon is now asking. They’re asking it to everyone! Why? To find more people to deliver their packages. From experienced truckers, to someone whose never operated […]
Truckers Need to Save More Fuel Gas. It’s the thing that we all think about when we drive for a long time (or even a short amount of time). What gas mileage do you get? How much is it going to cost in gas? How often will we have to stop? And what can be […]
Operating a vehicle (especially a large semi truck) comes with a lot of responsibility. Often, the main focus for semi-truck drivers is ensuring safety while handling such heavy equipment. Watching blind spots, dealing wind pushing your possibly hazardous equipment, and little cars zipping around? It’s a dangerous place on the roads. Manufacturers are looking to […]
Your company is doing well. Sales are coming in. Production is in progress. Clients are calling. And you’re going to keep growing. You need a business loan to keep growing. But it’s in the back of your mind: you’ve got a low credit score. Try as you might to not think about it, when you go to […]
The time has never been better to look into fleet financing. Low-interest rates and high approval rates? That should be music to your ears. This is an optimal time to get your business the equipment it needs. Especially if you’re looking to expand your fleet, it’s almost impossible to fund your vehicles all on your […]
Small Business Financing: The First Step The first sign you’re probably ready to apply for small business financing is probably the fact that you’re looking at this article. If it’s on your mind that you might need extra capital to expand your business, congrats! It just might be time. Almost all small businesses apply for […]
Working capital It’s the capital in your business that’s used for day to day operations. It’s a measure of the efficiency of the company and its financial health in the short term. In other words, it your companies assets minus your company’s current liabilities. Yes, working capital is very important. So how do you keep your […]
6 Equipment Leasing and Financing Tips Whether you decide to lease or finance your equipment, you need the funds to do it. While it’s exciting that your company needs new equipment, you might be dreading the process. What are the steps you should take? What are the equipment leasing and financing tips and tricks you […]
So your business has reached that point, and you need semi trucks! Things are looking good, and business is really starting to ramp up. But sometimes that means you need a truck with a ramp. So how can semi truck financing help me? You may be excited, but you also probably have a lot of […]
Tax Deductions? Yes please! There are few things in life that people agree on; the fact that taxes elicit a general feeling of “blahhh” is one of them. But then, most people would all agree that they love their tax return. And what about tax deductions? Those aren’t too shabby, either. If you’re a small […]
Diving head first into the world of commercial financing is something that can be compared to jumping off a cliff into a body of water. Before you jump, there are quite a few things you’ll want to check on, right? How deep is the water? How many feet have you put between yourself and the […]
We all know the phrase, “Never buy with credit what you can buy with cash” or “cash is king”. This may seem like a good idea in theory, but it may not be the right choice for you and your business. Commercial equipment and heavy equipment are expensive, specifically semi trucks. There is a […]
Cash is king. This expression, some say a favorite expression of self-made billionaire Alex Spanos, can not be understated nor can it likely be disputed by anyone that has ever been responsible for running a business. This blog is going to discuss the consequences of businesses having a lack of cash and in what circumstances […]
