Same idea as a home equity loan, with two differences. A transport operator needed $80K in working capital. They owned a 2019 Kenworth prime mover outright. ABL released the equity, fitted a GPS tracker, and the rig kept running its routes. The security was the truck. The truck kept earning while the loan ran.
The situation
Working capital. A short-term gap, the kind that needs covering for a couple of months, not refinancing for years.
The operator owned a 2019 Kenworth prime mover outright. Equity sitting in it. The catch was that the truck was on full schedules and couldn’t be parked without breaking the freight contract that paid the bills.
This is what asset-based lending looks like when the asset can’t sit still. A business owns something with equity in it. That same thing earns the business its income. ABL releases the equity, fits a tracker, and the asset keeps working. Same shape as a home equity loan, except the security is the income generator and it stays on the road.
The asset
A 2019 Kenworth T610 prime mover. Owned outright, no other finance against it. Pulling reefer contracts on the eastern seaboard line-haul.
For an asset-based lender, that’s enough to underwrite. The truck is the security, the business is the borrower, the deal doesn’t need a polished P&L to make sense.
The need
$80K in working capital, sized to cover a short-term gap. A delayed customer payment, an insurance renewal lump sum due in one hit, that kind of moment. The sort of cash need that has to be filled in days, not the six weeks a new term loan takes to approve.
The structure
The deal went through as a Track It facility. $80K disbursed. Total loan amount was $87,500 with fees built in. A GPS tracking unit fitted to the truck for the loan term.
The truck stayed on the road. Same routes, same contracts. ABL had visibility on the asset, the operator had the cash, the freight kept moving.
That’s the Track It structure. The asset stays in service for the duration of the loan and the tracker comes off on repayment.
- Product: Track It
- Asset: 2019 Kenworth prime mover, owned outright
- Disbursement: $80K
- Loan amount: $87,500 (includes fees)
- Use of funds: Working capital
- Security: GPS tracker fitted, asset remained in service
The outcome
Funds in the operator’s account, truck on its run, GPS pinging the route, loan repaying out of trading cash flow. No missed shifts, no broken contracts. The tracker comes off when the loan clears.
If the asset is what keeps the business running, you can’t park it. We track it instead. The deal gets done, the truck stays on the road, the loan repays out of what it earns.
Why this deal worked
Three things had to be true for the deal to work. They’re the same three things every Track It deal needs:
- An asset with real equity, owned outright. The Kenworth wasn’t financed and nothing else was sitting against it.
- A short-term gap, not a long-term issue. The need was for a few months, not years. That’s the kind of bridge ABL is built for.
- The right product for the asset. With the truck driving the business income, parking it would have killed the cash flow that pays the loan. Track It keeps the asset earning while the deal runs.
If your client owns a business asset that has to keep working, like a truck, a rig, a piece of plant or a working vessel, Track It is the conversation. The asset stays in service, ABL keeps visibility through a fitted GPS unit, and the deal funds the short-term gap without parking the income generator.
Got an asset that has to keep working?
If your client owns a business asset that can’t be parked because the business depends on it, Track It is the structure. We release the equity, fit a tracker, and the asset keeps earning. Free desktop valuation and a clear borrowing figure, all inside 2 hours. Same-day settlement when the asset is secured.