Transportation & Logistics
Business Funding for Trucking Companies
Trucking is a capital-heavy business where a single Class 8 truck costs $150,000 or more new. Fuel, maintenance, insurance, and driver pay create constant cash outflow, and shippers typically pay on net-30 or longer terms. Most trucking companies fail not because they lack loads, but because they run out of cash between hauls.
Common Uses
What Trucking Companies Use Funding For
- Purchase or lease Class 8 trucks, reefer trailers, and flatbed trailers
- Cover fuel costs and driver wages while waiting on broker and shipper payments
- Pay for DOT compliance requirements including ELD systems and annual inspections
- Fund insurance premiums that can exceed $15,000 per truck per year
Funding Options
Best Funding Types for Trucking Companies
Freight Factoring
Sell your bills of lading and invoices to a factoring company and get paid the same day you deliver a load. Freight factoring is built for trucking and most factors also provide free credit checks on brokers.
Equipment Financing
Finance trucks and trailers with the rolling stock as collateral. Trucking-specific lenders understand depreciation schedules for Peterbilts, Kenworths, and Freightliners and can fund both new and used units.
Fuel Card Programs
Access discounted fuel pricing at truck stops nationwide with a fuel advance tied to your loads. Some programs advance up to 50 percent of the load value at pickup so drivers have fuel money without touching your operating account.
What Lenders Look For
Qualification Notes for Trucking Companies
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