Bus and motorcoach companies are always looking for cost-effective ways to grow their businesses, and equipment financing provides a variety of opportunities to upgrade and expand fleets without a large cash outlay.
There has been a lot of talk lately about the impact of lower oil prices on the business sector. People in all industries, especially those directly involved in offshore oil and gas, are preparing for the short- and long-term effects falling oil prices will have on their businesses. Marine transportation is one sector that is, in fact, directly impacted by oil prices, and also one of our specialty sectors.
When it comes to credit and financing, banks are lending — and they’re still lending to marine transportation companies. But until oil prices bounce back, the key to overcoming credit concerns for marine transportation companies is diversification.