Trucking & Transportation
Trucking Business Loans
Trucking companies fund trucks and trailers, fuel and maintenance, and the 30-to-90-day wait between delivering a load and being paid for it. Equipment financing is secured by the vehicle itself, which raises approval odds considerably.
For trucking & transportation
What it pays for
- Tractors, trailers and reefer units
- Fuel and maintenance between settlements
- The 30 to 90 day wait on freight invoices
- Insurance down payments
- Repairs that take a truck off the road
- Won't affect your credit
- Free, no obligation
- Up to $500K
Why the bank said no
It is usually the same reason a lender says yes.
A bank sees one or two assets, thin equity and volatile fuel costs. A lender that finances the truck has collateral it understands, and one reading settlement deposits sees revenue arriving every week.
Why do banks turn down trucking companies for loans? →Funding options
Funding options for trucking & transportation.
The right product depends on what the money is for. One application here goes to the lenders in our network that fund trucking & transportation businesses in your state; they decide, typically within 24 hours, and funds can land in as little as 72 hours.
| What you need it for | What usually fits | Why |
|---|---|---|
| Tractors, trailers and reefer units | Equipment financing | The funder can value and recover the truck, so it approves on the asset. |
| Fuel and maintenance between settlements | Working capital loan | Underwritten on weekly settlement deposits, repaid as settlements land. |
| The 30 to 90 day wait on freight invoices | Working capital loan | Covers the gap between running the load and being paid for it, underwritten on settlement deposits. |
| Insurance down payments | Working capital loan | A one-off bill due in full, repaid over the months the policy covers. |
| Repairs that take a truck off the road | Working capital loan | Funds in days, which matters when an idle truck earns nothing. |
How does each kind of funding work for trucking & transportation?
Checked by Alex Makowski.
Two things decide how each product behaves in a trade: how the money comes in, and whether the need comes back. An advance repaid as a share of card sales falls in a slow week; one repaid by a fixed daily or weekly debit against deposits does not. Equipment secures its own financing, so it costs less than unsecured money. A line costs interest only on what is drawn, for the days it is drawn, and is the hardest of the four to open, usually needing a year or two of trading and clean statements. A working capital loan has fixed repayment, so size it to your slowest month.
Merchant Cash Advance for trucking & transportation
Freight pays by invoice, through factoring or quick pay, never at a card terminal, so an advance to a carrier is a fixed daily or weekly debit against settlement deposits. That debit keeps running when a truck is in the shop or a broker pays late. It is the most expensive of the four for a carrier, and stacking advances is how a bad month becomes a bad year.
Working Capital Loans for trucking & transportation
Fuel, tires, insurance down payments and repairs all land before a load pays. Working capital repaid weekly lines up with weekly settlements. It is not a substitute for factoring or quick pay, which we do not place: if the problem is every invoice waiting 30 to 90 days, factoring prices that gap per load, and working capital fits the one-off costs on top of it.
Equipment Financing for trucking & transportation
Tractors, trailers and reefer units are the core of the business and the core of what equipment lenders finance. Used trucks finance routinely, though lenders cap the age of what they will take. New authorities and first-time owner-operators can find lenders, usually with a larger down payment. A "no money down, no credit check" truck offer is one to read twice.
Business Line of Credit for trucking & transportation
A fleet with a settled history can use a line for the uneven costs: an engine rebuild, the annual insurance renewal, a soft month in the freight market. A single-truck operation finds one much harder to open. Where a line is available, use it before an advance for the same repair.
What your deposits support
Before you apply
What to have ready before you apply.
- Six months of business bank statements showing settlements.
- Your authority and insurance details, plus the year, make and mileage for any equipment being financed.
- Whether existing trucks are financed and with whom.
FAQ
Trucking & Transportation: questions owners ask.
- Can an owner operator get financing?
- Yes. Equipment financing on the truck is the most accessible route because the vehicle secures the loan, and many lenders work with single-truck operations.
- How do carriers cover the wait on freight invoices?
- Working capital funding, repaid out of settlements as they arrive. Repayment flexes with what you actually haul rather than a fixed monthly figure.
- Can I get truck financing with bad credit?
- Often. Because the truck is collateral, credit in the 500s is regularly approved, though a larger deposit improves both the odds and the pricing.
Trucking & Transportation funding by state
Guides
Guides on this
Why do banks turn down trucking companies for loans?
A bank sees one or two assets, thin equity and fuel costs it cannot forecast. A funder that finances the truck has collateral it understands and can value; one reading your settlement deposits sees revenue arriving every week. Both are approving on things a bank's model does not weigh heavily.
Your truck's engine blew. How do you pay for a $25,000 rebuild?
If you still owe on the truck, a bank will not lend against it and most equipment lenders will not either — the title is already pledged. A working capital loan or cash advance underwritten on your deposits before the breakdown is what funds a rebuild in one to three business days. Get a second quote first: independent shops rebuild a Series 60 for far less than a dealer.
You run one truck and want to add a second and hire a driver. How do you finance it?
The truck finances as equipment with 10 to 15 percent down and a term of three to five years, underwritten on the truck's value and your first truck's settlements. The part most owner-operators do not fund is the ramp: a driver's pay, insurance, plates and fuel for the six to eight weeks before the second truck's loads settle. Size a working capital loan or line to that ramp, or the second truck will eat the first one's cash.
One application, every lender we work with
Find out what you qualify for before you need it.
Eleven questions, about two minutes. You see offers side by side and take one, or none.
- Won't affect your credit
- Free, no obligation
- Decisions usually inside 24 hours
- Up to $500K