Trucking: business funding
Trucks cost a lot, repairs do not wait and shippers pay in 30 to 90 days. Trucking funding usually comes down to two tools: financing the equipment and getting paid faster on your loads.
- One application, several lenders
- No credit pull to see your options
- No fee to you, ever
Common funding needs
- Buying or replacing a tractor or trailer
- Paying for fuel, insurance and repairs while waiting on shippers
- Adding trucks to take on a new contract
- Covering a big repair so the truck is back on the road
What usually fits
Products that usually fit
- Equipment financing for tractors and trailers; the truck secures the loan.
- Invoice factoring to get paid on delivered loads now instead of in 30 to 90 days.
- Working capital for repairs and insurance deposits.
- Line of credit for fuel and running costs when revenue is uneven.
Compare term loans, lines of credit, cash advances and equipment financing side by side →
Illustrative example
A worked example
A carrier has $60,000 in unpaid invoices from shippers on 45-day terms. With factoring at an illustrative 90% advance, it receives about $54,000 within days. If the fee is an illustrative 3% for the period the invoices are outstanding, the fee is $1,800, and the carrier gets the remaining $4,200 when the shippers pay.
Illustrative only: real advance rates and fees depend on the factoring company and on how reliably your customers pay.
Illustrative example only, not an offer or a quote. Rates, fees and terms are set by each lender and depend on your business. Fees are not included unless stated.
Underwriting
What lenders look at
- Your operating authority and safety record (CVOR in Ontario, NSC number elsewhere in Canada, USDOT/MC in the US)
- Who your customers are and how reliably they pay (for factoring)
- Age, mileage and value of the equipment (for truck financing)
- Monthly deposits and existing equipment payments
- Owner credit and time in business
Honestly
Who this is not for
- Brand-new authorities with no loads yet: many lenders want some months of operating history
- Financing a truck whose payment the loads cannot cover after fuel, insurance and maintenance
- Factoring invoices from customers who often dispute or pay very late: fees rise the longer invoices sit
If borrowing does not make sense, we will say so.
Are you a match?
Lender network minimums
Close but not quite there? Apply anyway and we will tell you honestly what is possible.
*Best available terms from lenders in our network. Every lender sets its own criteria; approval, amount and funding time are decided by the lender and not guaranteed.
| Time in business | 1 year+ |
|---|---|
| Monthly revenue | $15,000+ |
| Credit score | 500+ |
| Bank account | Business |
| Fee to you | $0 |
| Credit pull to start | None |
FAQ
Trucking funding questions
Can an owner-operator get truck financing?
Often, yes. Equipment lenders look at the truck, your experience, credit and deposits. A down payment is common, especially for older trucks or newer authorities.
Is factoring a loan?
No. You sell invoices to a factoring company. The cost depends on how long your customers take to pay, and on whether it is recourse (you buy back unpaid invoices) or non-recourse.
Do you finance used trucks?
Some lenders in our network finance used tractors and trailers, often with limits on age or mileage. Tell us the year, make and mileage.
Do you work with carriers in Canada and the US?
Yes. We refer carriers on both sides of the border to lenders active where they operate.
See your options
Two minutes, no credit pull, no fee. We come back with real options from lenders that fit.