Calculator and toy truck car isolated on white background. concept: Trucking Business Loans
Timothy R
By: timothy-ronaldson
Read in 11 minutes

The Best Trucking Business Loans

Running a trucking company is challenging, and the things you have to spend money on are expensive. If you’re the owner of a trucking company, you know how necessary it can be to obtain trucking business loans to invest in your business and help it grow. 

Whether it’s expanding your business through the purchase of new equipment, updating your facilities, or fixing broken-down trucks, the capital you need can often reach high numbers. Trucking business loans can be a great way to fund your business improvements, your expansion, or the fixes you need if you don’t have that cash on hand. 

With so many financing options available nowadays, though, it can sometimes be challenging to figure out the best trucking business loans for your needs. The good news is that we’ve done the research for you, and we’ll break down five options for trucking business loans.

Horizontal shot of a red semi-truck on an interstate highway. concept: Trucking Business Loans

Top 5 Trucking Business Loans

We’ll be detailing trucking business loans from the Small Business Administration (SBA) for a variety of purposes; National Funding; Fundbox, for short-term business loans; BlueVine, for business lines of credit; and BFS Capital.

SBA Loans

The Small Business Administration offers a variety of loan programs that would cater well to owners of a trucking company. The government backs these loans, which gives private lenders more confidence to work with companies that might not qualify for funding otherwise.

One of the most popular options is the SBA 7(a) loan program. Business owners can qualify for up to $5 million in funding to use for just about any business reason. This could include purchasing equipment, land, or acquiring a business. 

The SBA sets the interest rate on these loans at prime plus a markup maximum of 4.75%. That markup will vary based on the repayment terms and the total amount of the loan. These loans offer fixed and variable interest rates, and repayment terms up to 10 years (or up to 25 years if the money is being used to purchase real estate).

Current interest rates for SBA 7(a) loans are between 7.5% and 10%. Lenders will typically require a down payment of between 10-20%. The lenders can also charge fees for this type of trucking business loan, up to 3.5%. 

The downside is that if you want to qualify for an SBA loan, you must have a minimum credit score of 680, and you can’t have any foreclosures, defaults on previous government loans, or bankruptcies. 

You also must have a Social Security number to receive an SBA loan. They do not accept ITINs.

National Funding

National Funding focuses on loans for small businesses. They are also an equipment leasing company that’s been around since 1999. They offer loans for equipment financing and working capital.

If you need to finance the purchase of equipment that’s critical to the operation of your business, National Funding has some trucking business loans that could be a fit for you.

They offer loans of up to $250,000 for a merchant cash advance, or between $5,000 and $500,000 for a small business loan.  

National Funding doesn’t require a down payment for their loans. General qualifications for trucking business loans through this company are that you must be in business for 12 months, have a FICO score of at least 500, have revenue of $100,000 per year, and have an average bank balance of $1,500. 

If you are looking for an equipment lease loan, you must also have an invoice from a vendor.

The repayment terms vary between 6 to 15 months. National Funding doesn’t disclose its APR until you apply, as it varies based on several factors. Expect the interest rate to be high, though. They charge an origination fee of 2% of the borrowing amount, as well as a one-time fee of between 17-36% of the borrowing amount. 

One great thing about National Funding’s trucking business loans is they offer a 7%% discount for paying your loan off early. 

They do not accept ITINs instead of Social Security numbers, though.

Red Lorry on M1 motorway in motion near London. concept: Trucking Business Loans


FundBox offers short-term trucking business loans. They offer lines of credit up to $100,000 that can be used for a variety of needs. They have repayment terms of 12 or 24 weeks, and the repayment schedule is weekly. If you need money quickly, this could be a good option for you, as they fund within one business day.

While they don’t charge any fees for their loans, the APR on the money you borrow could range from 10% on the low end to 79% on the high end. To qualify, you’ll need to have a minimum credit score of 500, be in business for at least three months, and have annual revenue of at least $50,000. You also must provide a personal guarantee and multiple forms of collateral.

They do not accept ITINs in place of SSNs.


Another option if you need quick cash is BlueVine. They provide a revolving line of credit up to $250,000. You can get your money in as quickly as one business day as well.

BlueVine offers APRs between 15-78%. You can pay weekly or monthly, with the total repayment term being either six or 12 months. They do not charge any other fees, and they don’t charge a penalty for repaying your trucking business loan early.

To qualify, you must have a minimum credit score of 600, be in business for at least six months, have annual revenue of at least $100,000, 

You must also have a Social Security number to apply.

BFS Capital

BFS Capital offers flexible, trucking business loans. Their loan sizes vary between $5,000 and $500,000, and they offer repayment terms of six to 18 months. They don’t charge any origination fees or processing fees and offer weekly or daily repayment schedules. They also provide funds in as little as two days.

BFS Capital doesn’t disclose its APR, as it can vary greatly depending on your financial details. To qualify, you must be in business for one year, have a minimum credit score of 550, and have a daily average bank balance of at least $1,500. 

They do not accept ITINs.

Truck Driver Behind the Wheel. concept: Trucking Business Loans

A Camino Financial loan is a great alternative

If these options don’t work for you, Camino Financial could be an excellent alternative for trucking business loans. There are many advantages we offer. 

You can qualify for loans of up to $400,000 and get a quick and easy decision in minutes. We offer low monthly interest rates of between 1% and 3.5% and repayment terms of 24 to 60 months.

This gives you inexpensive access to the capital you need, as well as a more extended period to repay your trucking business loans. To qualify, you need to be in business for at least nine months, have at least $2,500 in monthly sales.

You’ll receive funding in as little as 2 days, and our application process is quick and easy. Plus, applying for a Camino Financial loan doesn’t affect your credit score.

If you don’t have a credit history, don’t worry, we accept applicants with no previous credit history.

We know how hard it is for minorities to access capital, and we are here to help you take your business to the next level.

The great part about our loans is that you can apply with an ITIN.

And that’s not it, when you become a Camino Financial member, you can have access to many of our exclusive resources, and even better yet, you can graduate to a better loan with more time to repay after 9 timely payments.

Top Trucking Business Loans: Comparison

Loan amountInterest ratesFeesTime to payAccept ITIN?No credit history accepted?Time to fund
SBA loanUp to $5M7.75-10.25%Up to 3.5%10-25 years❌ ❌ 2-3 months
National Funding$5,000 to $500,000Not disclosed2% origination fee;

17-36% additional fee

6-15 months❌ ❌ 24 hours
FundboxUp to $100,00010-79%N/A12-24 weeks❌ ❌ 1 business day
BlueVineUp to $250,00015-78%N/A6 or 12 months❌ ❌ 1 business day
BFS Capital$5,000 to $500,000Not disclosedN/A6-18 months❌ ❌ 2 days
Camino Financial$5,000 to $400,000Starting at 12% (annual interest rate)5-6.99% origination fee24-60 months✔️ ✔️ 2-10 days

Your Trucking Business is About to Boom

There are many options for trucking business loans, and which one would be the best fit for you depends on your situation and what you want to use the money for. SBA loans are great if you need a lot of cash and can qualify for the government-backed program.

If you can’t qualify, or if you need money fast, our trucking business loans at Camino Financial are a great way to get the money you need. Through our loan products and educational services, we work every day to live up to our motto of “No Business Left Behind.”

Apply for a business loan today and get your trucking business moving forward!

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