In today’s message:

  • How you can change your own bank rate
  • New, lower rates for fleets and owner-operators
  • Some humour…
  • Helping you buy or sell equipment

How you can change your own bank rate

This week the Bank of Canada cut their overnight lending rate by 25% to 0.75%. So far it looks like no one but the banks will benefit from this rate cut.

There are several ways, however, for trucking companies to cut their borrowing rates. All these ways can be summarized as improving the apparent creditworthiness of the company.

I say “apparent” creditworthiness because many – maybe most – fleets are stronger than they look from the outside. An easy example of this is the value of older equipment that shows up on your financial statements: A well-maintained unit may have years of useful life ahead, but still have zero value on your financials.

When the bank looks at your books, do they see the true value of your equipment, or just the tax/accounting “value”? If it’s not the true value, then they will see your fleet as weak and your business as more risky. Your interest rate will be higher, or the bank may not lend to you at all.

I am an accountant by trade and training, but I must blame my fellow accountants for this gap between real value and accounting value. In order to maximize their own profit margins, they choose the easiest way to get your books done.

Yet this is an easy problem for me as an accountant to solve! If we repair this gap in equipment values, your fleet appears more creditworthy. Your borrowing rate should be lower and your ability to qualify for bank loans improved.

Better looking financials mean better bank rates and larger loans.

We want to help. Send us your recent financial statements or company income tax returns. We will tell you if we think your company can look better to your bank, or not. We won’t charge you for this and we will treat your information with complete confidentiality. In fact, we’ll sign a non-disclosure agreement with you, if you like.

Just reply to this email and we’ll get started. Or call us toll-free at 1.844.252.0524, 7 days a week.

 New, lower rates for fleets and owner-operators

Our portfolio of leases has grown, so we are able to cut our rates.

Your experienced owner-operators can now lease low-mileage tractors starting at 6%. Rates for new owner-operators start at 6.5%.

Fleet rates now start at 4.6%.

Please remember that these rates apply to the best apparent credit profiles of borrower. If your credit profile is not the best, we probably can fund you, but not at these lowest rates. And, like I wrote above, we will help you improve your credit profile.

Just reply to this email or call us.

Some humour

Here are a few from Jerry Seinfeld, plus (and I think this is the best part) some outtakes from his TV show:

Just what is the handicapped parking situation at the Special Olympics? Is it still just the two spaces?

I was best man at a wedding one time and that was pretty good. Pretty good title, I thought … ‘Best man.’ I thought it was a bit much. I thought we had the groom and the ‘pretty good man.’ That’s more than enough. If I am the best man, why is she marrying him?

Now they show you how detergents take out bloodstains, a pretty violent image there. I think if you’ve got a T-shirt with a bloodstain all over it, maybe laundry isn’t your biggest problem. Maybe you should get rid of the body before you do the wash.

According to most studies, people’s number one fear is public speaking. Number two is death. Death is number two. Does that sound right? This means to the average person, if you go to a funeral, you’re better off in the casket than doing the eulogy.

I have a friend who’s collecting unemployment insurance. This guy has never worked so hard in his life as he has to keep this thing going. He’s down there every week, waiting on the lines and getting interviewed and making up all these lies about looking for jobs. If they had any idea of the effort and energy that he is expending to avoid work, I’m sure they’d give him a raise.

To me, a lawyer is basically the person that knows the rules of the country. We’re all throwing the dice, playing the game, moving our pieces around the board, but if there is a problem the lawyer is the only person who has read the inside of the top of the box.

Men don’t care what’s on TV. They only care what else is on TV.

A two-year-old is kind of like having a blender, but you don’t have a top for it.


Helping you buy or sell equipment

  • Do you have equipment you’d like to sell, but the buyer doesn’t have enough cash? We can finance the deal.
  • Do you want to buy from a private seller who wants only cash? We’ll finance the deal.
  • Do you have an employee who could be an owner-operator, if only they could get financing? (Sell them your older units and get newer ones!)
  • Do you want your owner-operators to replace aging equipment or get additional units? We’ll finance the deal.
  • Does your bank or leasing company say, “No”, or “Not that much”? We’ll finance the deal.

We can help, at no cost or obligation to you.

Thanks for taking the time to read this, and have a great weekend.

Aquilian Financial provides loan, leasing, factoring, and employee health benefits solutions.

Contact: Email (

or phone toll-free: 1.844.252.0524.

Eric Grossman, CPA, CGA  –  Aquilian Financial

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