Small Business Loans for Trucking

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Owning and operating a trucking company is no small feat. The costs of trucks, equipment, fuel, and vehicle maintenance can make for a complicated budget. Add delays in invoices and payments that are common in the freight industry — it’s no surprise that many trucking business owners need financing to cover cash flow inconsistencies.

That’s why we’ve streamlined the process and outlined it for you below. Read on to find out how you can qualify and apply for trucking loans.

How Trucking Loans Can Grow Your Business

So you’ve nailed your route, have a steady stream of customers, and you’re now ready to add a new truck and some employees. Whether you’re just starting out, or a seasoned trucker, if you need financing to hire new drivers, pay for fuel and tolls, repair trucks, or add to your fleet, a trucking loan can provide the cash you need to do it.

The most common problem for any small business owner is a lack of cash flow. For owner-operated truck driving businesses, it’s no different. Often truckers get into trouble running up credit card debt to pay for fuel, tire repairs, and tolls. However, with a trucking loan, there’s an easier way to handle your budget.

Working Capital

Credit Score	500 FICO
Time in Business	6MO
Revenue	$10KMO $120KYR
Citizenship Status	Legal Residency
Ownership	Any Owner

Equipment Financing

Credit Score	600+FICO
Time in Business	2YRS
Revenue	None!
Citizenship Status	Legal Residency
Ownership	51%

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What is a Trucking Loan?

A trucking loans is basically a short term loan or line of credit that allows you to make purchases or cover costs when your business’ cash flow has slowed. When we work with trucking companies we make sure the process is simple and quick. Truckers can apply from their smartphone, get funded, and have short repayment terms, so you can hit the road successfully.

There are a few financing options for truckers. Choosing the type that suits your business’ needs is essential. Our staff can help create a lending package that works for you. However, here’s a brief summary of financing options for trucking.

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Short-Term Loans

These loans are ideal for rapid growth and short-term cash flow needs for expansion.

Business Line of Credit

If you find recurring cash flow problems due to delay in payment or other seasonal funding issues, a line of credit can be helpful.

Equipment Financing

If you want to add to your fleet or repair trucks, this form of financing works well.

Small Business Administration Loans

If you’re not in a hurry for financing and you’re looking for a longer repayment term, an SBA Loan can work for you.

Business Credit Cards

Owner-operators who need fuel and toll expenses covered can use business credit cards. You’ll need a credit score of 680 or more to qualify.

About Cardiff

A trusted leader in small business lending

Cardiff, a small business lender based in San Diego, offers fast, flexible financing solutions tailored to the needs of small businesses throughout the US. Since 2004, the company has funded over $10 billion, providing approval in minutes and same day funding in most cases.

Backed by the latest technology and integrations with partners like Plaid®, Cardiff blends real-time financial analysis with personalized service, to deliver a reliable, transparent experience for business owners across industries like construction, restaurants, trucking, and more.