Trucking business loans provide capital to purchase commercial vehicles, repair equipment, hire drivers, and cover cash flow gaps caused by slow-paying freight bills. Platform Funding provides $5,000 to $3,000,000 to established carriers with funding decisions typically in 24-48 hours.
You buy fuel at the pump today. Driver settlements go out every week, and insurance premiums come due on schedule. Then the broker pays in 30-60 days. Loans for trucking business owners are one way to cover that gap, but a loan isn't always the right fit. For our full industry page, see transportation and trucking financing.
Types of Trucking Financing
- Equipment financing: Lease or finance tractors, trailers, reefers and specialty units. Semi truck financing through a lease carries a fixed rate, so there is no rising-rate exposure. Underwriting looks beyond your credit score to cash flow and time in business. See transportation equipment financing, dump truck financing, and our breakdown of fleet financing options, lease vs. loan.
- Business loans: A lump sum with a fixed APR and payback up to 24-36 months. Business loans for trucking companies fit planned costs such as an engine overhaul, a yard upgrade or onboarding new drivers.
- Lines of credit: Up to $3M. Draw as needed and pay interest only on what you use. The limit is reusable after paydown, which suits fuel, tires and repairs that don't wait. See business lines of credit.
- Invoice factoring: Sell unpaid freight invoices for an upfront advance. Trucking invoice factoring isn't debt. You receive the advance rate upfront, and the factoring fee is the cost. Up to $3M, funded in 24-48 hours. See invoice factoring.
- Revenue-based financing: Upfront capital, typically 80%-110% of your average monthly revenue. You repay a fixed percentage of revenue until the agreed amount is repaid, so a slow freight month means a smaller collection. It isn't a loan. Terms typically run 3-18 months. See revenue-based financing.
Where Carriers Use Trucking Working Capital
Repairs. A failed turbo or a clogged DPF parks a truck, and a parked truck earns nothing. Truck repair financing through a line of credit gets the unit back on the road before the next load settles. We cover this in how owner-operators cover a truck repair before the next load pays.
Broker pay cycles. If your brokers pay on 30-60 day terms, factoring turns delivered loads into cash now. You stop floating fuel and payroll for two months at a time.
Growth. Small trucking business loans fit steps like hiring drivers, adding a lane or covering insurance on a new unit. Traditional small business loans for trucking companies run through a bank on the bank's timeline. SBA loans for trucking business owners are one of those bank options. They can suit a carrier that can wait for a longer review.
Common Requirements
- Time in business: At least 6 months operating.
- Revenue: About $10,000 or more in monthly revenue.
- Bank statements: 3-6 months of recent business bank statements. Revenue-based financing needs no tax returns or business plan.
- Operating authority: An active USDOT number and MC authority. You can check your status on the FMCSA registration and operating authority site.
- Credit: Prequalification uses a soft credit pull that does not affect your credit score. We weigh cash flow alongside credit.
These requirements are built for established carriers and owner-operators with steady freight revenue. If your authority is brand new, build 6 months of revenue history first.
Why Carriers Work With Platform Funding
Platform Funding has provided more than $2 billion to over 30,000 businesses across 12+ years in alternative lending. We're rated 4.9 out of 5 on Trustpilot from 583 reviews, and we hold an A+ rating with the Better Business Bureau. One dedicated account manager stays with you for the whole relationship, and multiple funding rounds are available.
"My business was growing fast and I went to my bank for a loan. After 6 weeks and no answers, I found Platform Funding. They customized a working capital advance and we kept growing."
Illias, Lapel Shipping & Courier
Read more Platform Funding customer reviews and testimonials.
How to Apply
- Complete the short Platform Funding online application and upload your recent bank statements.
- Receive a funding decision, typically within 24-48 hours.
- Review the offer and its full cost with your account manager, then sign and receive funds.
Frequently Asked Questions
Can I get a business loan for a trucking company?
Yes. Business loans for trucking are available to carriers with at least 6 months in business, about $10,000 or more in monthly revenue and active operating authority. Our business loans come as a lump sum with a fixed APR and payback up to 24-36 months. Every funding decision is based on a real review of your revenue and bank statements.
How hard is it to get financed for a semi truck?
For an established carrier, equipment underwriting looks beyond credit score to cash flow and time in business. Prequalification uses a soft credit pull, so checking your options does not affect your credit score.
Is invoice factoring a loan?
No. Factoring is the sale of unpaid invoices for an upfront advance. It isn't debt. The cost is the factoring fee, and funding typically arrives in 24-48 hours.
What does trucking financing cost?
Platform Funding does not publish rates. The cost depends on the amount, the term and the product. Your account manager shows the full cost upfront before you sign, with no hidden fees.
