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Industry Financing

Trucking Business Loans

Financing solutions for trucking companies, owner-operators, and freight businesses.

Trucking business loans help trucking companies finance trucks, trailers, fuel, maintenance, and working capital. Common uses: truck and trailer purchases, fuel cards, maintenance and repairs, insurance, and working capital. Loan types: equipment financing (6-30% APR) for trucks/trailers, fuel cards, term loans ($25k-$500k), and lines of credit ($25k-$250k). Approval in 24-72 hours for alternative lenders. Requirements: 6+ months in business, $10k+/month revenue, 600+ credit. Owner-operators may qualify with strong revenue and clean driving record.

Common Financing Needs

Trucks & Trailers

  • • Semi-trucks and tractors
  • • Trailers (dry van, flatbed, refrigerated)
  • • Used truck purchases
  • • Fleet expansion
  • • Truck upgrades

Learn about equipment financing.

Operating Expenses

  • • Fuel and fuel cards
  • • Maintenance and repairs
  • • Insurance premiums
  • • Tolls and permits
  • • Driver payroll

Explore lines of credit.

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)

Learn more about equipment financing →

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

Learn more about lines of credit →

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

Learn more about term loans →

Industry-Specific Challenges

High Operating Costs

Fuel, maintenance, and insurance are major 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

Learn more about how to qualify for a business loan.

Frequently Asked Questions

Can owner-operators get loans?

Yes, owner-operators can qualify with strong revenue and clean driving record. Equipment financing is ideal for truck purchases. May need to show consistent loads and payment history.

What's the best loan for buying a truck?

Equipment financing is best. Truck serves as collateral, rates are competitive (6-30% APR), and approval is fast (24-72 hours). Terms typically 2-7 years.

Can I finance fuel and maintenance?

Yes, lines of credit are ideal for ongoing expenses like fuel and maintenance. Draw as needed and pay interest only on what you use. Fuel cards also available.

Ready to Finance Your Trucking Business?

Apply now and get a decision in 24-72 hours. Fast approval for trucks, trailers, and operating expenses.

Fast decisions • Clear terms • Real people