FORT LAUDERDALE, Fla. — Fleet Advantage, which provides truck and trailer financing options, has launched a new sale-leaseback program to infuse cash and flexibility into transportation fleets. This program is designed to help fleet organizations substitute for lost revenues during the ongoing COVID-19 pandemic.
Through the sale-leaseback program, a company selects assets from its fleet that are older, inefficient and less reliable. Fleet Advantage will purchase those assets and lease them back to the fleet for an interim period; then the fleet can transition to new equipment when ready. This practice enables organizations to generate cash in the near term, which can be critical because of the COVID-19 pandemic and the strain the crisis has placed on companies and the economy. The cash gained by the sale-leaseback program can be used for immediate internal needs or to simply provide extra working capital.
“We’re launching this program to help our clients with transportation fleets realize an immediate infusion of cash and flexibility into their organizations,” said John Flynn, CEO of Fleet Advantage. “Having additional cash on hand is critical for today, but the flexibility to upgrade to newer truck technology with advanced safety features tomorrow will help fleets come out of the pandemic with a significant competitive edge through financial and operational efficiencies gained.”
For more information about Fleet Advantage’s sale-leaseback program, click here.