Industry financing

Trucking Business Loans

Financing solutions for trucking companies, owner-operators, and freight businesses. Trucking business loans support vehicle purchases, fuel, maintenance, and working capital. Equipment financing rates range 6–30% APR. Term loans from $25k–$500k and lines of credit ranging $25k–$250k with approval in 24–72 hours. Basic requirements include 6+ months in business, $10k+/month revenue, and 600+ credit score.

Common Financing Needs

  • Trucks & Trailers: Semi-trucks and tractors, trailers (dry van, flatbed, refrigerated), used truck purchases, fleet expansion, truck upgrades
  • Operating Expenses: Fuel and fuel cards, maintenance and repairs, insurance premiums, tolls and permits, driver payroll
  • Working Capital: Cash flow gaps, waiting on freight payments, seasonal fluctuations, unexpected expenses
  • Growth & Expansion: Adding trucks to fleet, hiring drivers, opening new routes, technology upgrades

Best Loan Types for Trucking Businesses

1. Equipment Financing — Best for trucks, trailers, and vehicle purchases. Rates: 6–30% APR, Terms: 2–7 years, Amounts: $25k–$500k+. Vehicle serves as collateral. Fast approval (24–72 hours).

2. Business Line of Credit — Best for fuel, maintenance, and ongoing operating expenses. Rates: 8–25% APR, Limits: $25k–$250k. Draw as needed; pay interest only on what you use.

3. Term Loans — Best for large purchases, fleet expansion, and one-time needs. Rates: 8–25% APR, Terms: 1–5 years, Amounts: $25k–$500k. Fixed monthly payments.

Industry-Specific Challenges

High Operating Costs: Fuel, maintenance, and insurance represent significant expenses. Lines of credit help manage cash flow and cover these ongoing costs.

Payment Delays: Freight payments can take 30–60 days. Working capital loans bridge the gap between delivering loads and receiving payment.

Equipment Costs: Trucks and trailers are expensive. Equipment financing spreads cost over time while you use equipment to generate revenue.

Qualification Requirements

  • Time in Business: 6+ months (12+ months preferred)
  • Monthly Revenue: $10,000+ (higher for larger loans)
  • Credit Score: 600+ (higher scores get better rates)
  • CDL & Insurance: Valid CDL and insurance required

Frequently asked questions

Can owner-operators get loans?
Owner-operators can qualify with strong revenue and a clean driving record. Equipment financing suits truck purchases. May need to show consistent loads and payment history.
What's the best loan for buying a truck?
Equipment financing is optimal. Trucks serve as collateral, rates are competitive (6–30% APR), and approval occurs quickly (24–72 hours). Terms typically span 2–7 years.
Can I finance fuel and maintenance?
Yes, lines of credit work well for ongoing expenses like fuel and maintenance. Draw as needed and pay interest only on amounts used. Fuel cards are also available.

Ready to get funded?

Apply once and get a clear funding offer in 24–72 hours — no hard credit pull to pre-qualify.

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