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Trucking and Transportation Industries Heavily Impacted by Superstorm Sandy - How Lines of Credits Can Get Them Back on Track

Transportation Business Lines of Credit after Hurricane SandyWhen I began hunting for early holiday deals a couple of weeks ago, I had no idea what Mother Nature had in store for the Northeast. We’re not talking about your typical Nor’easter. Hurricane Sandy crippled the East Coast infrastructure. Shipping hubs, warehouses, and some major roads have come to a veritable standstill.

 

The Hurricane That Almost Stole Christmas


What happened to my wayward Christmas gifts? Well, I’m in the same boat as thousands of other shoppers, vendors, and manufacturers. We’ve all received notice from EBay, Amazon, Fedex, and others.

 

If you’ve received notice, then you’re familiar with the words: Be advised, due to weather conditions in the Northeast, there have been unforeseen shipping delays. This may affect the arrival of your shipment.  We are working to remedy this issue as quickly as possible. Thank you for your patience.


As I sat at home watching the news, I was struck by the level of devastation left in the wake of the storm. The Department of Transportation has given $13 million in emergency funds to New York and Rhode Island. This is largely considered the worst mass transit disaster in history. I began to wonder when the recovery would even begin. I got my answer that same day. It came unexpectedly with a knock on my door. It was a mail delivery - the first of my Christmas packages - only about 4 days behind schedule.

 

How did the package show up at my door so quickly? To answer that question we need to look at the silver lining for the trucking and transportation industry: the business line of credit.

 

Unsecured Funding to the Rescue

Trucking and transportation involves a lot of variables:

  • Weather
  • Road conditions
  • Accidents
  • Repairs
  • Deadlines
  • Demands

The good news is that most trucking companies know this ahead of time and have a contingency plan in place.

A business line of credit can be used as an unrestricted emergency funding source. It allows for other trucking and transportation lines to lend their East Coast affiliates a helping hand. While one region recovers, another can use unsecured funds to pay for:

  • Necessary overtime for drivers
  • Additional maintenance cost
  • Faster Repairs
  • Increased fuel cost

Even though the product will come from farther away, the demands of businesses across the country can still be met. Contingency plans based on a business line of credit turn a disastrous halt into a short-term hiccup.

Best of all, the same unsecured funds can be used by the East Coast trucking industry to aid in recovery and relief efforts. Since the money is unrestricted, businesses can use it to cover temporary shortfalls in:

  • Operations
  • Billing
  • Payroll
  • Repairs

Hurricane Sandy has given you a chance to see unsecured financing in action. It illustrates how quick thinking and an efficient, easy approval process can work together to keep vital services running smoothly. It can do the same for your business needs-big or small. Discover the value of a reliable contingency plan for yourself.

 

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