Short Answer

Trucking businesses have access to 6 distinct loan types — equipment loans, SBA loans, working capital loans, lines of credit, invoice factoring, and MCAs. Most carriers need a combination of 2: an equipment loan for the truck and a line of credit for cash flow. Start by comparing rates through eBoost Partners before applying anywhere.

Trucking Business Loans: Complete Guide for 2025

Key Takeaways

→ There are 6 loan types available to trucking businesses — each solves a different problem.
→ Most owner-operators need two products: an equipment loan + a line of credit.
→ Always compare offers — a 2% rate difference on a $100K truck loan saves ~$5,000 over 5 years.
→ Minimum viable profile: CDL + MC authority + 550 FICO + 10% down gets most carriers financed.
→ Avoid MCAs unless you've exhausted all other options — 40–150% APR equivalent is rarely justified.

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The 6 Types of Trucking Business Loans

1. Equipment Financing / Semi Truck Loans

The most common trucking loan. The truck is the collateral. Rates: 5.49–18% APR. Terms: 24–84 months. Down payment: 0–20% depending on credit. The truck purchase drives the loan amount — lenders advance 80–100% of the truck's value.

Best for: buying a new or used Class 8 truck, trailer, or specialty equipment. Compare equipment loans →

2. SBA Loans (7a and 504)

Government-backed loans with the lowest long-term rates. SBA 7(a): up to $5M, Prime+2.75%. SBA 504: up to $5.5M for real estate and major equipment. Both require 2+ years in business and strong financials. Approval takes 90–120 days — not for urgent needs.

Best for: established carriers with strong credit who can wait for funding and want the lowest possible rates. Compare SBA options →

3. Business Line of Credit

Revolving credit you draw as needed and repay. Rates: 6.2–30%. Best online lenders: Bluevine (lowest rates), OnDeck (faster for newer businesses). A LOC handles fuel, tire blowouts, insurance premiums, and driver payroll gaps.

Best for: managing cash flow between loads and broker payments. Compare lines of credit →

4. Invoice Factoring

Sell your freight invoices to a factoring company for immediate cash. Fee: 2–5% of invoice face value. No credit check on you — the factor checks your broker's creditworthiness instead. Same-day funding. No debt — you're selling an asset.

Best for: carriers waiting 30–60 days for broker payments who need cash now. Compare factoring options →

5. Working Capital Loan

A short-term term loan (not revolving) for operational expenses. Rates: 8–35%. Terms: 6–24 months. Faster and easier to qualify for than equipment loans but more expensive.

Best for: covering specific near-term costs when a LOC isn't yet established. Compare working capital options →

6. Merchant Cash Advance (MCA)

Not a loan — a purchase of future revenue. Factor rates of 1.1–1.5x translate to 40–150% APR equivalent. Daily repayments come out of your bank account. The most expensive option in trucking by a wide margin.

Best for: last resort only, when all other options are exhausted. Read MCA guide →

How Much Can a Trucking Business Borrow?

Loan capacity scales with your business's financial strength:

Business Profile	Equipment Loan	LOC	SBA
New authority, 550 FICO	Up to $80K (20% down)	Not yet	Not eligible
1 year, 620 FICO, $100K rev	Up to $150K	$25K–$50K	Not eligible
2 years, 680 FICO, $250K rev	Up to $250K	$50K–$150K	Up to $500K
3+ years, 720 FICO, $500K rev	$500K+	$150K–$250K	Up to $5M

Trucking Business Loans with Bad Credit

Bad credit narrows your options but doesn't eliminate them. The floor is roughly 500 FICO for equipment loans (National Funding, CAG Truck Capital) and 450 FICO for startup situations where CDL+MC authority substitute for credit history. Expect 15–30% APR at those credit levels.

The strategy: get financed at the best available rate, make 12–18 months of on-time payments, then refinance at a significantly lower rate. See bad credit options →

Find Your Trucking Loan

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