Trucking companies keep America moving, but staying on the road requires capital. Whether you need $40,000 for truck repairs or $100,000 to expand your fleet, small business loans can fuel your growth. With over $650 billion in small business lending in 2024 and the freight industry projected to hit $18.09 billion in 2025, financing options are plentiful, even for trucking businesses with 620–650 credit scores and $160,000 in revenue. This article highlights the top small business loans for trucking companies in 2025, tailored for urgent 3-week timelines. For real lender reviews, visit Loans for Small Business.
Why Trucking Companies Need Financing
Trucking businesses face high costs: truck maintenance, fuel, driver salaries, and fleet expansion. A small business loan can cover these expenses, helping you compete in a demanding industry. Whether you’re an owner-operator or manage a fleet, the right loan can keep your trucks rolling and your business growing. Here are the best loans for trucking companies in 2025.
Best Small Business Loans for Trucking Companies
1. Equipment Financing
Description: Loans to purchase or repair trucks, trailers, or equipment, with the asset as collateral.
Best For: Trucking companies needing $40,000 for repairs or upgrades, with a 620 credit score and $160,000 revenue.
Pros:
- Easy approval due to collateral.
- Competitive rates (6–15%).
- Fast funding (1–5 days), perfect for 3-week needs.
Cons: - Limited to equipment purchases or repairs.
- Depreciation may outpace loan term.
Example Lender: Truck Lenders USA offers a streamlined process for loans under $125,000, often based on bank statements.
Why It Fits: A $40,000 loan at 8% over 7 years yields ~$300/month payments, fitting tight budgets.
2. SBA 7(a) Loan
Description: Government-backed loans with low rates and long terms (up to 25 years for real estate), usable for trucks, working capital, or acquisitions.
Best For: Established trucking companies with 680+ credit seeking $100,000 for fleet expansion.
Pros:
- Low rates (8–10% in 2025).
- Flexible use, including buying competitors’ assets.
- Long repayment terms.
Cons: - Lengthy approval (30–90 days), not ideal for 3 weeks.
- Requires strong credit and extensive paperwork.
Example Lender: SBA-partnered banks or Clarify Capital for application support.
Why It Fits: Great for large-scale growth but too slow for urgent needs.
3. Online Term Loan
Description: Fixed-payment loans from fintech lenders like Funding Circle, with terms of 6 months to 5 years and quick approvals.
Best For: Trucking companies needing $40,000–$100,000 fast, with 600+ credit.
Pros:
- Approvals in 1–3 days, meeting 3-week timelines.
- Simple online applications.
- Accessible for 620 credit scores.
Cons: - Higher rates (10–30%).
- Shorter terms increase monthly payments.
Example Lender: National Funding, offering up to $500,000 in 24 hours.
Why It Fits: Ideal for quick repairs or small fleet additions.
4. Freight Factoring
Description: Not a loan but a cash flow solution where you sell invoices at a discount (1–5%) for immediate funds, typically 80–90% of invoice value.
Best For: Trucking companies with delayed client payments, needing $40,000 for fuel or maintenance, even with 550+ credit.
Pros:
- Fast cash (1–2 days).
- Credit score less critical.
- No debt, as it’s an advance on invoices.
Cons: - High fees (1–5% per invoice).
- Relies on client payment reliability.
Example Lender: altLINE by The Southern Bank.
Why It Fits: Boosts cash flow without impacting liquidity, great for 3-week needs.
5. Merchant Cash Advance
Description: A lump-sum advance repaid via a percentage of daily credit card or revenue sales, suited for businesses with high transaction volumes.
Best For: Trucking companies with consistent revenue needing $40,000–$100,000 quickly.
Pros:
- Funding in 1–3 days, ideal for 3 weeks.
- No collateral required.
- Flexible repayments tied to sales.
Cons: - High costs (factor rates of 1.2–1.5).
- Can strain cash flow.
Example Lender: Square Capital.
Why It Fits: Quick funds for urgent repairs but requires careful financial planning.
Choosing the Right Loan for Your Trucking Company
To select the best loan:
- Define Your Needs: $40,000 for truck repairs? Equipment financing or freight factoring. $100,000 for fleet expansion? Online term loans or SBA.
- Check Eligibility: A 620–650 credit score and $160,000 revenue qualify for most loans except SBA (680+ preferred). Provide 3–4 months of bank statements.
- Prioritize Speed: For 3-week timelines, focus on equipment financing, online term loans, or freight factoring.
- Compare Lenders: Marketplaces like Clarify Capital or National Business Capital connect you to 75+ lenders, but verify fees. Read reviews on biz2credit.
- Calculate Payments: A $40,000 loan at 8–10% over 7 years yields ~$300/month, aligning with budgets.
Pro Tip: Prepare documents (tax returns, bank statements, proof of $160,000 revenue, CDL licenses) to speed up applications, especially for equipment loans. Check Loans for Small Business for feedback on lenders like Clarify Capital.
Success Story: A Trucking Company’s Growth
Tom, an owner-operator with a 620 credit score and $160,000 revenue, needed $40,000 to repair a semi-truck. He chose equipment financing from Truck Lenders USA, approved in 3 days with a 7-year term at 9% APR (~$300/month). The repairs kept his truck on the road, boosting revenue by 10% in 4 months. Tom’s story shows how targeted loans drive success. Read more on Loans for Small Business.
FAQ on Trucking Company Loans
Can I get a $40,000 loan with a 620 credit score?
Yes, equipment financing or freight factoring accept 550–620 scores, ideal for repairs or cash flow.
How fast can I get funds in 3 weeks?
Equipment financing, online term loans, or freight factoring fund in 1–5 days.
Are marketplaces like Clarify Capital reliable?
They connect to 75+ lenders, but fees vary. Check Loans for Small Business for user insights.
Can I afford $300/month for a $40,000 loan?
Yes, a 7-year loan at 8–12% APR fits this budget. Use a loan calculator.
What documents do I need?
Business plan, financial statements, tax returns, bank statements, and proof of $160,000 revenue.
Keep Your Trucks Rolling in 2025
From truck repairs to fleet expansion, small business loans can power your trucking company’s success. With options like equipment financing for $40,000 repairs or online term loans for $100,000 growth, 2025 offers solutions for 620–650 credit scores and $160,000 revenue. Explore lenders and read real reviews on Loans for Small Business to make a confident choice.
Ready to hit the road? Apply for a small business loan today and drive your trucking business forward!
