Best Trucking and Transportation Business Loans
Review our picks for the best trucking business loans and choose the right option for your needs.
A trucking business loan most commonly refers to a small-business loan used to purchase a commercial truck, although it can also include funding for working capital and other operational expenses. Trucking business loans can cover everything from semi trucks and plow trucks to dump trucks, service trucks, food trucks, pickups and more. Trucking businesses can be owner-operator businesses that have one truck, or larger companies that operate a fleet of trucks.
The best trucking business loan options depend on your financing needs. Startup expenses may include the purchase of a vehicle, registration and certifications and, therefore, require a larger lump sum that may be better suited for long-term financing. On the other hand, if you are already operating and looking to cover gaps in cash flow that can be caused by the trucking payment cycle, short-term loans or a line of credit may work well for you.
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trucking business loans: More details
U.S. Small Business Administration: Best for large loan amounts
SBA 7(a) loans offer up to $5 million, which can be used for working capital and equipment purchases. Nearly 3,800 7(a) loans were issued to transportation and warehouse companies in fiscal year 2025.
Low interest rate
SBA 7(a) loan
with NerdWallet Small Business
Max loan amount
$5,000,000
Min. credit score
650
Term length
Up to 25 years
Pros
- Large borrowing maximums.
- Interest rates are capped.
- Long repayment terms available.
Cons
- Collateral is typically required.
- Longer processing times than online lenders.
Pros
- Large borrowing maximums.
- Interest rates are capped.
- Long repayment terms available.
Cons
- Collateral is typically required.
- Longer processing times than online lenders.
Bank of America: Best for low interest rates
Trucking businesses can use Bank of America’s unsecured term loan for a variety of purposes. Interest rates start as low as 6.5%. You’ll need good credit and multiple years in business to qualify.
Bank of America Business Advantage Unsecured Term Loan
with NerdWallet Small Business
Max loan amount
$100,000
Min. credit score
700
Term length
12 months to 5 years
Pros
- Bank loan with competitive interest rates.
- No collateral required.
- Bank of America’s Preferred Rewards program can offer interest rate discounts and other perks.
Cons
- Can be slow to fund.
- Prepayment fees may apply to early repayments.
- Must be an existing Bank of America customer to apply online.
- Charges an origination fee.
Pros
- Bank loan with competitive interest rates.
- No collateral required.
- Bank of America’s Preferred Rewards program can offer interest rate discounts and other perks.
Cons
- Can be slow to fund.
- Prepayment fees may apply to early repayments.
- Must be an existing Bank of America customer to apply online.
- Charges an origination fee.
Triton Capital: Best for purchasing a truck or other equipment
Triton Capital offers up to $250,000 to buy used or new equipment for your business. Because this financing is secured by the equipment you purchase, it may be easier to access than more traditional loan options.
Triton Capital - Equipment financing
with NerdWallet Small Business
Max loan amount
$250,000
Min. credit score
575
Term length
12 months to 5 years
Pros
- Can fund within one to two business days.
- No prepayment penalty.
- Flexible repayment options: monthly, quarterly, annually or semiannually.
Cons
- Charges an origination fee.
- Requires higher annual revenue than other online lenders.
Pros
- Can fund within one to two business days.
- No prepayment penalty.
- Flexible repayment options: monthly, quarterly, annually or semiannually.
Cons
- Charges an origination fee.
- Requires higher annual revenue than other online lenders.
OnDeck: Best for fast financing
OnDeck’s short-term loan can be a good option for one-time, specific investments in your trucking business. You can complete the application in as little as 10 minutes, and if approved, you may be able to get same-day funding.
May fund quickly
OnDeck - Online term loan
with NerdWallet Small Business
Max loan amount
$400,000
Min. credit score
625
Term length
18 to 24 months
Pros
- Cash can be available within the same business day (does not apply in California or Vermont).
- Accepts borrowers with a minimum credit score of 625.
- Streamlined application process with minimal documentation required.
- Can be used to build business credit.
Cons
- Cannot fund North Dakota-based businesses.
- Requires frequent (daily or weekly) repayments.
- Interest rates can be high compared with traditional lenders.
- Charges origination fee.
Pros
- Cash can be available within the same business day (does not apply in California or Vermont).
- Accepts borrowers with a minimum credit score of 625.
- Streamlined application process with minimal documentation required.
- Can be used to build business credit.
Cons
- Cannot fund North Dakota-based businesses.
- Requires frequent (daily or weekly) repayments.
- Interest rates can be high compared with traditional lenders.
- Charges origination fee.
Fundbox: Best for working capital needs
Fundbox’s flexible line of credit can be used to cover general working capital needs, as well as emergency expenses. It’s a particularly good choice for startups and businesses that are still building their revenue.
May fund quickly
Fundbox - Line of credit
with NerdWallet Small Business
Max loan amount
$250,000
Min. credit score
600
Term length
3 to 24 months
Pros
- Financing available within two business days after approval.
- Simple application with minimal documentation required.
- Low minimum credit score, time in business and annual revenue requirements.
- No prepayment penalties, account maintenance fees or inactivity fees.
Cons
- Weekly repayments required.
Pros
- Financing available within two business days after approval.
- Simple application with minimal documentation required.
- Low minimum credit score, time in business and annual revenue requirements.
- No prepayment penalties, account maintenance fees or inactivity fees.
Cons
- Weekly repayments required.
Fora Financial: Best for bad credit
Fora Financial only requires a minimum credit score of 570 — the lowest of any lender on our list. You might consider this short-term loan if you have a lower credit score, but strong revenue.
Fora Financial - Online term loan
with NerdWallet Small Business
Max loan amount
$1,500,000
Min. credit score
570
Term length
4 to 24 months
Pros
- Cash can be available quickly.
- Get a discount for prepaying.
- No collateral required.
- Low minimum credit score requirement.
Cons
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Can’t build business credit.
- Aggressive repayment schedule (daily or weekly).
- Charges an origination fee.
Pros
- Cash can be available quickly.
- Get a discount for prepaying.
- No collateral required.
- Low minimum credit score requirement.
Cons
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Can’t build business credit.
- Aggressive repayment schedule (daily or weekly).
- Charges an origination fee.
What is a trucking business loan?
A trucking business loan provides capital for owner-operators and fleet operators to purchase trucks, cover repair costs, manage cash flow and hire drivers. These loans can be issued by banks, SBA lenders and online lenders.
Types of trucking business loans
Several types of loans can be used to finance a trucking business. Common options include:
Business term loans
Best for: One-time purchases or investments in your business.
A business term loan is a lump sum of money that’s repaid over a specific period of time, plus interest. Because these loans have predictable, set payments, they can be a good choice for one-time investments, such as purchasing supplies or materials, making a repair or hiring drivers.
Business line of credit
Best for: Working capital needs, covering emergency expenses.
A business line of credit is more flexible than a term loan. With a line of credit, you can draw from a set limit of funds and only pay interest on the money you borrow. Once you’ve repaid those funds, you can continue to draw on your credit line.
Because of this flexibility, a business line of credit is ideal for managing cash flow gaps and covering short-term expenses. It’s also helpful to keep in your back pocket in case of emergencies.
Equipment financing
Best for: Purchasing a truck or other equipment.
Equipment financing is a loan that’s used specifically to buy machinery or equipment. These loans are typically secured by the equipment you plan to purchase. Because of this built-in collateral, equipment financing can be easier to qualify for than more traditional loan options. If you’re looking to buy a truck, equipment financing can be a good choice.
SBA loans
Best for: Established businesses that need large loan amounts and long repayment terms.
SBA loans are partially guaranteed by the U.S. Small Business Administration and issued by participating lenders like banks and credit unions. Both SBA 7(a) and 504 loans can be used for trucking businesses.
SBA 7(a) loans can be a good option for general working capital needs, whereas 504 loans may be a better choice for large fixed asset purchases (like financing a truck). These loans have large maximum loan amounts, long repayment terms and low interest rates.
» MORE: SBA commercial vehicle loans
Freight factoring
Best for: Trucking companies with cash tied up in unpaid invoices.
Freight factoring is a type of invoice factoring specifically for trucking companies. With this type of financing, you sell your invoices to a third-party company. In exchange, you receive cash upfront (instead of waiting to be paid by your customer). Freight factoring companies will take a percentage, usually between 1% and 5% of your invoice, as payment for their service.
Typical requirements for trucking business loans
To qualify for a trucking business loan, you’ll usually need:
- Personal credit score: 600+.
- Time in business: Six months or more.
- Annual revenue: $100,000+.
If you’re applying for a loan to buy a truck, you’ll likely need to provide a down payment as well. Some lenders require a down payment of 10% to 20% of the loan amount or purchase cost.
» MORE: Semi truck loan calculator
How to get a trucking business loan
Follow these basic steps to get a business loan for your trucking company.
1. Evaluate your financing needs. Determine how you plan to use your funds — to buy a truck, to hire drivers or to cover repairs. This will inform the size of the loan you need and which type of financing is best for you.
2. Review your qualifications. Review common business loan requirements, such as personal credit score, time in business and annual revenue, to determine which loans you’ll be able to qualify for.
3. Compare your loan options. Research several different loan and lender options to find the right fit for your needs. Consider factors such as loan amount, repayment terms and interest rates, as well as funding timeline and lender reputation.
4. Gather documents and apply. Prepare your documentation ahead of time to speed up the application process. You’ll likely need business bank statements, financial statements and possibly tax returns. If you’re purchasing a truck or other machinery, you’ll want to include an equipment quote as well.
5. Sign loan agreement and receive funds. Once you’re approved, your lender will send you a loan agreement to review. Read through it carefully and make sure you understand all the terms and conditions. Ask your lender any questions you have before signing. After you sign the agreement, your lender will transfer funds to your business bank account.
➡️ Next steps
- Still unsure which loan is right for you? Check out our list of the best small-business loans.
- Want to compare multiple trucking loan options through one platform? Submit an application with Fundera by NerdWallet and receive personalized support.
- Need more resources for your trucking company? We have guides on commercial truck insurance, trucking accounting software and fleet cards.
Last updated on February 19, 2026
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