I too have been fighting a similar battle since January. Have a contract waiting for me to be signed at a "Transport" company (different industry away from Expediting) that pays $1.70 - $1.80 a mile for outbund freight and decent backhaul opportunities back to where the outbound freight originates from. I only need a Class 4/5 truck for this type of work. Total investment I am seeking is $35-$40K to buy C/C and have custom built bed put on.
Very very solid background with my personal credit/financial portfolio as well as a solid background in the trucking industry. Credit score in the top 1% of American credit consumers (785-800), 12 verifiable years in the trucking industry with Tax records to support (1040's-Schedule C's-etc), and took out a total of $152,000 in loans from 2001-2008 for various trucks and equipment needed for various contracts over the years. All loans paid off in 1/2 the time loan contracts called for and all loans have 0 balance/paid as agreed reported on credit records.
My personal finances are just fine. House paid for, no mortgage. I have enough "Cash" in the bank to buy 4-5 of these trucks I need for this contract. Current house is about to be put on market and I am going to be purchasing another house for "Cash" hopefully this year, so I'm not going to even consider paying "Cash" for a truck right now.
Have been "Off The Road" since 2007 when diesel hit $3.50 a gallon. Worked locally up until last May (2009). Decided to "Take a Break" for a while. Was offered contract mentioned above in January. (been talking with them since last November) I thought I would have no problem getting truck purchased/financed with my background. That is not the case. Even with my stellar finance and trucking background/history, I cannot get financed anywhere for anything. My personal bank, where $54,000 of those loans mentioned above were financed through, said No "Current" Job, No Loan, despite the fact I have 6 figures in "Cash" sitting in their bank. Said their "Criteria" has changed and they have strict "guidelines" set forth from the Federal Reserve that they must follow for all loan applications. Stated that I did not meet "todays" criteria even with my "history" of loans with them. They suggested I take a "Home Equity Loan" to buy truck with. Huge argument ensued, and I'll have all my money (Cash-CD's-Retirement Accounts-Etc) out of that bank hopefully within 6 months. I've been with this bank for 13 years. My bank used to be a "local" bank, but was bought out by a "Larger" bank about 4 years ago. Things have changed there. Wish I could pull everything out today, but it'll take some time so I'm just "ATM'n it until I get away from them.
Submitted applications to 2-3 "Major" commercial financing sources (GE Capital - Sovereign Bank), turned down due to "No Recent Activity" in the trucking industry. (been off the road since 2007) Talked to one of their Loan Officers and asked who is actually getting financed today. He explained to me that basically "Individuals" in the trucking industry will not be looked at, period. Toooo many banks lost tooooo much money over the last 2-3 years due to the fuel increases and freight losses and that only major "Trucking Companys" with "Cash" reserves or "Collateral" (100 Clear Truck Titles as an Example) are even being considered for financing right now due to the "Strict" banking regulations the Obawa Administration put in place during the Bail Out offers.
So, forget about trying to obtain any or sort financing as an "Individual" right now. This just came to the forefront here in the last couple of days:
But Bernanke and other Fed leaders are fighting the attempt to strip them of authority over small banks. Increasingly, they're turning away from the quiet persuasion of lawmakers -- the Fed's typical approach -- and toward making their case openly and vigorously.
washingtonpost.com
Banks just cannot lend money to qualified "Individuals" right now due to being under the scrutiny and control of the Federal Reserve. And with Obawa passing legislation that is going to require huge huge huge Tax Increases (Health Care today, Cap & Trade tomorrow) to pay for his agenda's, this Administration is going to be in control of our monetary services for quite some time to come.
I know, soapbox post, but my opinion is that if you have other venues of "employment" right now that does not require an "Investment" of your own to bring in "wages" that are needed to survive, jump on them. (In other words, driving someone elses truck instead of buying one on your own). Hell, I'm probably backing off on getting back on the road for now. I have other "venues" I am considering that might keep me occupied until we have an Administration in our Government that supports the "Free Market" values that America was built upon. I refuse to fall victim to a "Socialist" agenda, of which we are heading down the path to, and am just going to ride out the storm for now even though I am currently a "Victim" as we speak. (not being able to obtain the earned and deserved credit I am due) because of "banking regulations" put in place by this Socialist Administration.
I am going to take a stab at going to my personal bank tomrw and see how far I can get there. I have the business plan already I document EVERYTHING I do for personal records and this can be looked at like a plan. 
