Best Business Loans for Owner-Operator Truckers [2025 Update]
As an owner-operator, you’re not just behind the wheel — you’re running a full-blown business. Every mile you drive, every delivery you make, and every invoice you send relies on one thing: your ability to keep moving.
But keeping your rig running smoothly, paying for repairs, covering fuel, or even buying your first truck requires capital. That’s where business loans come in. The good news? You don’t need to walk into a bank and beg for weeks.
In this 2025 guide, we’re breaking down the best loan options for owner-operators and small trucking businesses. Whether you have excellent credit or have hit some bumps in the road, there are lenders who understand truckers — and they want your business.
Why Truckers Need Specialized Business Loans
Trucking is unlike any other business. Your revenue is tied directly to your ability to haul loads and keep your rig on the road. But wh
at happens when your transmission goes out or fuel prices spike? You need cash — fast.
Owner-operators face unique expenses:
- $10,000+ for engine repairs
- $6,000+ for new tires or trailer parts
- Thousands in monthly fuel and insurance costs
- Delayed payments from freight brokers
That’s why more truckers are turning to online lenders that offer speed, flexibility, and minimal paperwork. These lenders get the trucking grind, and they’re not scared off by inconsistent cash flow.
According to the American Transportation Research Institute, 90% of fleets operate six trucks or fewer, meaning most of the industry is small, independent operators just like you. Having access to funding can make the difference between growth and going out of business.
What to Look for in a Trucking Business Loan
Not all loans are created equal. Here are some key things to consider before signing:
- Speed of Funding: Some lenders offer same-day approval and funding. Others may take a week or longer.
- Repayment Terms: Short-term loans may offer quick cash but require faster payback. Long-term loans offer smaller payments but stretch out over years.
- Fees & Interest Rates: Look for transparency. Watch out for origination fees and prepayment penalties.
- Credit Requirements: Know your credit score before applying so you can apply to the right lenders.
- Collateral: Some loans require you to put up your truck or other assets. Know what you’re risking.
Knowing these details helps you avoid costly surprises and ensures you find a loan that matches your business needs.
Why Use a Loan Marketplace Instead of Going to One Lender
A marketplace like Lendio allows you to shop multiple offers at once with a single application. This not only saves time, but also lets you:
- Compare rates from dozens of lenders
- Find lenders open to bad or average credit
- Access loan products you may not have considered
- Avoid multiple hard credit pulls
Truckers need speed and flexibility, and marketplaces offer both. Think of it as the Expedia of business loans.
1. Lendio — Best Overall for Truckers
Why we recommend it: Lendio is a loan marketplace that connects you with 75+ lenders through one simple application. Perfect for busy truckers who don’t have time to apply over and over.
- Loans: Working capital, SBA loans, equipment financing
- Loan Amounts: $5,000 to $500,000+
- Time to Funding: As little as 24–72 hours
- Credit Score: 560+ (flexible)
- Best for: All-around funding and comparing options quickly
2. National Funding — Best for Bad Credit Truckers
Why we recommend it: National Funding is known for working with business owners who have less-than-perfect credit. If you’ve been turned down before, this is a strong option.
- Loans: Equipment, working capital, and merchant cash advances
- Loan Amounts: $5,000 to $400,000
- Time to Funding: 24 hours
- Credit Score: 500+
- Best for: Emergency funds and truckers with credit challenges
✅ Check Your Eligibility with National Funding
3. Bluevine — Best for Flexible Credit Lines
Why we recommend it: If you don’t want a lump sum but need access to cash as you need it (fuel, repairs, insurance), Bluevine’s line of credit is perfect.
- Product: Business Line of Credit
- Limits: Up to $250,000
- Repayment Terms: 6 or 12 months
- Credit Score: 625+
- Best for: Ongoing working capital
✅ Get a Line of Credit with Bluevine
4. OnDeck — Best for Fast Capital
Why we recommend it: OnDeck is known for speed. They offer same-day funding, which is ideal when your truck breaks down or you need quick repairs.
- Loans: Short-term loans, lines of credit
- Loan Amounts: $5,000 to $250,000
- Time to Funding: Same day possible
- Credit Score: 600+
- Best for: Quick, short-term funding
5. Fundbox — Best for New Owner-Operators
Why we recommend it: Just getting started? Fundbox is more lenient on time in business and offers fast approvals, even for newer companies.
- Product: Business Line of Credit
- Limits: Up to $150,000
- Minimum Time in Business: 6 months
- Credit Score: 600+
- Best for: New trucking businesses and startups
✅ See If You Qualify with Fundbox
Bonus Option: Credibly — Best for Mid-Size Fleets
Why we recommend it: If you’re running more than one truck or operating as a growing fleet, Credibly is a solid choice with tailored solutions.
- Loans: Working capital, equipment financing
- Loan Amounts: $5,000 to $400,000
- Credit Score: 500+
- Time to Funding: 48–72 hours
- Best for: Fleets and established businesses
Types of Loans for Truckers: What to Know
There are a few loan types you should be familiar with:
- Equipment Financing: Best for purchasing trucks or trailers. The equipment is used as collateral.
- Working Capital Loans: Cash to keep your business running (fuel, payroll, bills).
- Lines of Credit: Revolving credit you use when you need it.
- Invoice Factoring: Get paid upfront for unpaid invoices.
- Merchant Cash Advances: Fast funding with higher fees, based on your future sales.
Choose based on what you need most right now. Most lenders will ask how you plan to use the funds, so be specific and strategic when applying.
Real-World Example: John the Owner-Operator
John is a 38-year-old owner-operator hauling regional freight. His truck needed a $7,200 repair, and he was already behind on insurance. With a 580 credit score, he thought he had no chance of getting a loan.
He applied through Lendio and got matched with three lenders. One approved him for a $15,000 working capital loan within 48 hours. He paid off his bills, repaired the truck, and took on a higher-paying dedicated lane. Three months later, he doubled his weekly revenue.
Another Example: Maria’s Growing Fleet
Maria started with one truck and a dream. After a year of steady growth, she wanted to expand to a three-truck operation but didn’t have the capital. She used Bluevine to open a $50,000 line of credit, allowing her to finance a down payment on two used trucks and manage fuel expenses as the new drivers came onboard. Today, Maria’s business hauls for three national contracts.
Comparison Chart
| Lender | Loan Type | Credit Score | Speed | Best For |
|---|---|---|---|---|
| Lendio | Marketplace | 560+ | 1–3 days | All-around loan options |
| National Funding | Bad Credit Loans | 500+ | 1 day | Low credit applicants |
| Bluevine | Line of Credit | 625+ | 1–2 days | Fuel, maintenance, cash flow |
| OnDeck | Short-Term Loans | 600+ | Same day | Fast capital needs |
| Fundbox | Line of Credit | 600+ | 1–2 days | Startups, newer businesses |
| Credibly | Working Capital | 500+ | 2–3 days | Mid-size fleets |
Frequently Asked Questions (FAQs)
Can I get a trucking business loan with bad credit?
Yes. Lenders like National Funding and Lendio work with borrowers who have credit scores as low as 500. Strong revenue helps offset low credit.
Do I need to put up my truck as collateral?
Not always. Some loans are unsecured, while equipment financing uses the truck itself as collateral.
How long does it take to get funding?
Most online lenders can fund within 24 to 72 hours once approved.
What documents do I need to apply?
Typically, 3–6 months of bank statements, proof of income, DOT number, and business license or EIN.
Are these loans only for owner-operators?
No, they also work for small fleets and startup trucking companies.
What if I was denied by a bank?
Online lenders like Lendio, OnDeck, and National Funding specialize in alternative approvals. They look at cash flow, not just credit score.
How can I increase my odds of getting approved?
Have your paperwork ready. Improve your credit if possible. Apply through platforms like Lendio to compare multiple offers.
Are trucking loans different from personal loans?
Yes. Trucking business loans are designed for operational costs, equipment purchases, and scaling a business. They often have higher amounts and business-specific terms.
Can I use a loan to cover insurance or fuel costs?
Absolutely. Many truckers use working capital or lines of credit to cover daily operational costs like insurance, maintenance, tolls, and fuel.
Pro Tips to Get Funded Faster (and Smarter)
- Be honest on your application. Don’t fudge numbers.
- Have your monthly revenue ready, even if it’s irregular.
- Use a business checking account (not personal) to show you’re serious.
- Be specific about what you’ll use the loan for (repairs, expansion, new contract)
- Compare lenders — never take the first offer blindly.
- Ask about renewal terms if you’re planning to apply again later.
- Consider multiple loan types — you may benefit from a mix of working capital + line of credit.
Final Thoughts
Truckers are the backbone of America — and you deserve funding that understands your hustle. Whether you’re just starting out or you’re looking to expand your operation, there’s a loan out there that fits your business.
Don’t let a bank’s slow process or a rough credit score hold you back. The lenders on this list are trucker-friendly, fast, and proven. Start with Lendio to compare your best options.
✅ Ready to Get Funded? Compare Your Loan Options Now →
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