Important COVID-19 Update From TopMark Funding
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 time for everyone — a time that, for many, is filled with uncertainty.
TopMark Funding has taken many of the steps and precautions other businesses are implementing to protect the health and well-being of our teammates, clients and the communities we serve. We will continue to closely monitor this rapidly evolving situation and stay in close contact with you.
We are operating with an abundance of care. We are fully operational and available to serve you! First and foremost, our plan ensures the health and safety of our team members, so we can continue to deliver the service you count on. Our team is actively working remotely from their home offices around the country. We are fully networked, and all systems are up and operational.
These precautionary measures have been taken to limit the potential spread of the virus, to support our team members in this challenging time, and to ensure we maintain our ability to serve you for the long term. Our senior leadership team remains vigilant and is monitoring the situation in real time and responding rapidly as conditions evolve.
We want you to know that you have our commitment to continue working to provide you with the services you depend on. Since 2015, TopMark Funding has focused on helping the transportation industry secure the equipment needed to operate and grow. Our primary customer base consists of those in the transportation industry: Over the Road Trucking Companies, Intrastate Local Haul, and Vocational Transportation Vehicles. Truckers are the lifeblood of TopMark Funding and right now more than ever they are the lifeblood of this country. Now, more than ever, it is important that we help you keep your trucks moving.
The transportation industry is undergoing changes in response to the COVID-19 pandemic.
Changes to the Transportation Industry
Trucking companies are facing two different situations due to the COVID-19 outbreak:
Situation 1: Massive Demand for Essential Services
Those that are hauling essential goods like groceries, health & household products, and medical supplies are experiencing a boom. Their services are in high demand. The government has identified them as essential services, and regulations are being loosened to keep them on the road longer to keep up with the demand. We are seeing a lot of applications from these customers. That is good. With the addition of a reduction in the price of fuel these are viable companies. Unlike many other businesses in other industries during this COVID-19 situation, these businesses will not have to shut down. They will be very busy and benefit from strong cash flow during this time. Grocery stores around the country are selling out fast. For the first time in 82 years, the Federal Government has eased and nearly lifted Hour of Service regulations related to the trucking industry. The FMCSA’s statement that they are easing the hours of service regulations for truckers came on the heels of President Trump declaring a State of Emergency due to COVID-19. This was done to ensure that there is no slowdown in the supply chain. There is currently a huge demand for products to be shipped all throughout the nation. The FMCSA has posted the declaration in full here.
If you are one of the companies experiencing this influx of business and you need working capital to hire drivers, or equipment financing to purchase more trucks, we can help.
Situation 2: Slowing Demand/ Non-Essential Services
We have seen a number of Companies that have slowed down and are putting their purchases on hold until COVID-19 passes. This makes sense for those that are typically hauling cargo deemed “non-essential goods.” These companies are worried about their revenue being impacted over the next few months.
If you are going through this situation, we would recommend considering a working capital loan. This will ensure you have enough cash on hand to make it through this stressful time period. In addition, and if possible, we would also recommend that you consider sourcing some routes from the load boards that are helping to get the essential goods and services out to the marketplace.
What This Means for Truckers
The overall market for trucking is strong. There is reason to believe it will get even stronger as the country comes out of the COVID-19 pandemic. The trucking industry, which is currently facing a large shortage of drivers, is one of the most vital and essential services the country relies on right now. Drivers are being stretched thin to keep up with the needs around the country. With gas prices heading to historic lows, the trucking industry is looking at an unprecedented boom. This means it is a good time for trucking companies to grow and expand their fleets!
More Information About Trucking During the COVID-19 Pandemic:
Below are a number of links to articles that we found valuable and wanted to share with you.
- CDL LIFE NEWS:
Trump thanks truckers for coming to the rescue during Coronavirus crisis
- Department of Homeland Security:
Transportation is one of the 16 Critical Infrastructure Sectors During COVID-19
COVID-19 and Truck Driver Shortage may threaten food supply chain
- KOB4 News:
Trucking industry is in high demand during COVID-19 pandemic
- FOX8 News:
Trucking industry key to keeping economy afloat during COVID-19 pandemic
- Freight Waves:
Trucking volumes spike despite – because of – coronavirus concerns
- News 12 Now:
Experts See Coronavirus Impact on Trucking Industry
- Business Insider:
In an unprecedented move, the Trump administration suspended an 82-year-old road safety law for some truck drivers, showing how much coronavirus is pressuring retailers and hospitals to maintain cleaning and medical supplies
Amazon is Restocking Only Essential Products, Suspending Other Supplier Shipments to Warehouses
How TopMark Funding Can Help You
At TopMark Funding, we have dedicated sales representatives who understand the trucking industry and its needs right now. If your business needs the funds to expand, we can fund commercial trucks and trailers from dealers or private party sellers. We recognize the growing demand and stress the COVID-19 outbreak has put on fleets that deliver goods. We want to be a resource for those looking to add trucks. TopMark can help during this unprecedented time.
TopMark can provide you a with quote without impacting your credit. We have application only programs that offer as much as $250,000 with approvals in 24 hours!
Complete a simple contact form or give us a call at (866) 627-6644. One of our truck financing specialists will contact you to go over your truck equipment needs and learn more about you and your business.
Thank you for what you do every day, and especially in these days!
Please be safe and stay healthy.
Your TopMark Team
About TopMark Funding
TopMark Funding is a top-rated semi-truck financing and equipment financing company located in Roseville, CA. We specialize in commercial trucking and heavy equipment. Our mission is to become your long-term financial partner by helping you grow your trucking business and fleet.
We’re not here for the short-term, we’re on the long-haul with you!
We have financing options for semi-trucks, commercial trucks, trailers, and small businesses. We have great rates, low down payments, and flexible monthly payments regardless of credit history.
Learn more about: Semi-Truck Financing
Fill out the contact form or give us a call at (866) 627-6644. One of our truck financing specialists will contact you as soon as possible to go over your truck lease needs and learn more about you and your business financing goals.