In 2024, a mid-sized trucking company faced a familiar yet frustrating challenge when their $4 million financing request for new reefer trailers was declined. The VP of Finance shared the experience, highlighting how their revolver bank, which had previously been a reliable partner, turned them away despite strong financial performance.

“Five years ago, this deal would have been approved within three weeks,” the VP reflected. “Last year, it took over a month and three conference calls to review our latest audit, which showed a solid 15% year-over-year EBITDA growth—far outpacing the market. Even then, the bank’s primary focus was on deposit relationships, asking us seven times across three different conversations to explore ways to bring them more deposits. When we couldn’t meet that requirement, the decision came back as a pass. To make matters worse, 45 days later, they reached out to reprice our revolver and tighten our covenants.”