Markel launches equipment financing program specifically for trucking industry

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TORONTO, Ont. — Markel Insurance Company of Canada has launched Markel SIMPlus, an equipment financing program designed to provide greater flexibility for Canadian trucking operators.

“Many carriers have told us they want financing solutions better suited to their unique needs,” said Mark Ram, president and CEO of Markel. “Current equipment financing programs do not meet their needs. Banks provide a generalist solution to a broad range of industries, which means their financial products are not designed to meet the specific needs of carriers, while dealerships often fail to offer preferred rates or a range of financing options. Markel SIMPlus has been designed to provide carriers better financing solutions at a better price. We have achieved this by developing a more flexible and cost-competitive solution.”

Specifically, Markel SIMPlus offers:

Financing solutions for new or used tractors and trailers, as well as heavy equipment repairs
Rates often lower than those available through other lenders
Specialized payment scheduling options, including seasonal or stepped payments aligned to the unique seasonality and cash flow patterns of a carrier’s operations
Service for a variety of credit profiles and situations
Financing requests processed in less than 24 hours

“Many carriersboth fleets and owner/operatorswant more options in equipment financing,” continued Ram. “We believe that, with a no-obligation quote from Markel SIMPlus, carriers of all sizes will have a better option for their equipment financing needs.”

The Markel SIMPlus equipment financing program is available exclusively to Markel policyholders.

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