Small Business Loans for Trucking
5.99%
Low rates on secured financing
82,000
Double our average competitor’s approval
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% |
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.
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
Cardiff
Here are some reasons why our customers love us as much as we love them!
Alfredo Castaneda
4 reviews
It's been a pleasure working with Bank of Cardiff. Very professional and knowledgeable customer service. We are blessed to have found them, when other banks denied us loans. Thank you and we hope to keep working together for a better future.
Katherine Sheldon
4 reviews
Cardiff was able to provide me funding where other banks were not. My credit score, which I find to be a challenge when finding a loan for my business. Their representatives were great. They offered me some financial advice in order to get future funding at even better terms which I found very helpful as well.The loan process was very easy and you get funded in less than 48 hours. I will certainly use them again in the future.
tolani turnage
3 reviews
Recently got our semi trucks financed through Bank of Cardiff. Never thought we would get the loans approved at one point, but to my surprise we got approved . Not only did we get approved , we got very good interest rates considering this was our very first time financing an equipment. It was an awesome experience working with Ally Diaz, she was very polite and helpful. Great customer service, communication was excellent all through the process. She took her time in answering all my questions and directed me to the right person as needed within their organization. I will definitely recommend Bank of Cardiff to other business associates and family!!!
Angela Brason
8 reviews
I had a great experience with Ms. Tania Stevenson this week. We were in need of a loan to get us through the month, while waiting on payments from net/30 customers. She was very knowledgeable about all of the products that Bank of Cardiff offers. She moved quickly & professionally to meet our needs! I'm so grateful for her and her service to help us. Great Job Tania!!
Roxy Rodriguez
2 reviews
If you need cash just call Saul and Chris they are both amazing people. I never thought I would even get near a loan but they made it happen. The process was easy an fast!! I would recommend them 1000x.
junior frett
1 review
Had a great experience with Bank of Cardiff. If you need quick and easy finance call them, and specifically ask for Jesse Moore or Sal they know all the different programs Cardiff offers and better fit your needs. Quick, easy, straight to the point and no bull. Jesse and Sal will try their best to get you exactly what u need. Definitely will keep using Bank of Cardif . Thanks
Rafael GONZALEZ
1 review
Had a great experience. Great customer service Sal & Jesse were very helpful. Need a loan give them a call.
Blades of Green
1 review
It's always a pleasure to work with John at Bank of Cardiff! We have received nothing less than prompt, attentive, friendly service. Bank of Cardiff gave us comfort and hope during a difficult situation, and we would recommend John Mena to anyone and everyone we know!
Marsha Reaves
1 review
This is my second time working with Cardiff Bank and I enjoy it. This time around Christian worked with me on getting a bigger loan. I would recommend Cardiff Bank to anyone trying to get a loan. I forgot to mention that they work with your credit score to get you the best interest rate.
Christel Aime
2 reviews
John and Mitch were very great, responsive and stayed in touch with me the whole process. this is my third transaction with bank of Cardiff , I would recommend them any time