Finished up the financing for the truck yesterday. It was a lot of hoops to jump through, trying to be the POC between the bank/dealership and the 3 other members was a hurdle. Organizing all the documents, contracts, insurance, correspondence, etc. Still need to sit down and go through the money we spent and have it halfway decent for the accountant. Still, i wanted to take just a little bit of time to celebrate, even though we have not booked any loads.
We got hosed on the interest rate though
it definitely is a learning experience, & im excited to move forward. It kind of sucks & is a blessing to have 4 members holding 25% of the comapny, bc we all share the load financially, but to be real most of the work falls on me. We all work 9-5s but ive been the guy who's been the boots on the ground so to speak...and at times its difficult trying to explain certain things we simply cant do right now or bringing up expenses the other members haven't thought about, bc they don't deal with all the numbers and paperwork.
Right now its a just a group chat, and that can get tiring every few days to give a debrief to all the members about whats going on.I honestly don't know what they do on a day to day while all this is going on behind the scenes
I want to send out "Weekly Minutes" like how we do in the military. If 4 people are supposed to be in a meeting and one guy cant make it, we send an email to everyone about what the hell we talked about and everyone's tasking moving forward. That will definitely be a conversation that will have to be had in the near future. The first payments are due July 25 + Aug 5.
I'll bring it up within the next couple of weeks. It panned out as me and one guy being the main ones, and the other 2 are in the cut (who have put up their share of the capital) in the cut like "When the first check coming in
" Not knowing it would be best to reinvest most of the profits to really speed up the growth. Sprint for a few years to walk the rest.
Im done complaining though
, it was a good day. Got approved for the business loan, and need to screen some of these drivers to get him to orientation early next week