Semi Truck Financing

Faster, easier small business financing with one simple application—no bank needed.

Applying is free and won’t impact your credit.

Reviews from semi truck business owners.


MARCH 10, 2022

Drake Hale did an awesome job at…

Drake Hale did an awesome job at securing me a loan for my trucking company. My company is a little over a year old and he was able to find me a bank to do a starter loan in order to get me set up to obtain larger funding in the future to expand my fleet. Would highly recommend using Lendio and Mr. Hale for business funding.

Forbridge Solutions

MAY 9, 2022

As a small business owner in the…

As a small business owner in the freight transportation industry, we have been facing a lot of obstacles to include high gas prices, cheap freights and has struggled immensely with cash-flow. Nick was able to get us going with a credit line within a short period of time of us talking. We look forward to keeping a good working relationship with Lendio.

Satisfied Fleet Owner

OCTOBER 14, 2021

Lendio did a phenomenal job helping me…

Lendio did a phenomenal job helping me receive funding for my trucking company. Alex Spafford, my funding manager, was incredibly steadfast and adamant about knocking on the correct doors to fund my small business. I am forever grateful for the great service that Lendio has provided. As my company grows, I look forward to doing more business with them in the future.

Lendio knows semi truck small businesses.

Whether you’re looking to buy a new semi truck or fix up the one you have, Lendio can match you with a semi truck financing company to get you on the road.

The cost of both a semi truck and cab can put you back as much as $200,000. Add in rising fuel costs and other traveling costs, and the trucking industry is not as easy to operate within as it should be—especially when you consider it’s the backbone of the U.S. economy. Fortunately, there are semi truck financing companies that can help.

Buy your first semi truck or expand your trucking business with business loans custom made for your needs. Lendio currently partners with over 75 lenders, which is more than enough financial power to supercharge any business’ capital needs.

Why Lendio?

Quick & easy

Apply in just 15 minutes and get funded in as little as 24 hours

Your partner in business financing

Get personalized support throughout the funding process. Your funding manager will be with you every step of the way to answer your questions and advocate for you.

Offers tailored to your business

Compare loan offers from multiple lenders. With over 75+ lenders in our network, your funding manager will work with you to ensure you get the best rates and terms for your business.

How our loan matching process works.


Fill out our simple application.

Answer just a few questions about your business to see which lending products you qualify for. We’ve partnered with over 75 lenders, allowing us to find the best option or your business.


We’ll connect you with a funding specialist.

One of our funding specialists will reach out to you to get to know your business better. Since every business is unique, we want to make sure we find the loan type that’s perfect for your needs.


Compare loan offers.

Compare different offers curated for your business. Select the capital amount and rate that will help take your business to the next level.


Get funded.

We work with lenders that can fund you fast. Once you’re approved, you’ll be able to access your capital in as little as 24 hours.

Semi truck financing lenders.

The following lenders offer equipment financing for semi trucks.

Lender/Funder*Work WithLoan/Financing AmountMin. Time in BusinessLoan/Financing TermMin. Credit ScoreTime to Funds
(After Approval)
BalboaTrucking Companies
Up to $500,0003 years84 months650As soon as same day
Commercial Funding PartnersTrucking Companies
$500,000+3 yearsVaries665As soon as 1 day
Global FinancialTrucking CompaniesUp to $1 millionAny12-60 months500As soon as 48 hours
ParadigmTrucking Companies
Up to $5 million2 years24-48 months600As soon as 1 day
South End CapitalTrucking Companies
Up to $5 million2 yearsUp to 120 months700As soon as same day
Time PaymentTrucking Companies
Up to $1.5 millionAny12-60 months550As soon as 1 day
*With 3+ trucks registered with the DOT

Types of semi truck financing.

While equipment financing is used specifically to purchase or lease a semi truck, other types of business loans can be used to cover the cost of a semi truck in addition to other business costs.

Equipment financing

Equipment financing is used specifically to buy equipment, including commercial vehicles. Be aware that some lenders place restrictions or higher lending requirements on the trucking industry. Your funding manager will help connect you with the best lenders for your business.


1-5 years

$5 million

Debt financing

Debt financing is what you may already think of when you think of traditional semi truck financing. Borrowers receive the full lump sum up front and make monthly payments until the balance is paid off. Popular debt financing products are term loans and SBA loans.


6 months-25 years

$5 million

Line of credit

A line of credit can help you stay on top of your semi-truck’s capital needs. It’s a type of revolving credit (which means it’s like a credit card), so it can be used for just about any type of business expense. Because it’s possible to get up to $500,000 in credit, it’s a good no-money-down semi truck financing option.


6-24 months



Semi truck financing is when the purchase of a semi truck is made possible with a loan product. Types of funding include debt financing, a line of credit, and equipment financing.


Requirements will vary by lender and loan type. The minimum requirements when financing a semi truck are:

  1. Time in business of at least six months 
  2. A credit score of 600 or higher
  3. Monthly business revenue of $8,000 or more


Because it’s a business loan, you can use the loan money for any business-related expense. For example, you could use the money to purchase a new or used semi-truck, communication equipment, or cabin accessories. Or perhaps you have a fleet and need new tires for each truck. All in all, every dollar spent on your trucking business or career can come from a business loan. Equipment financing, on the other hand, can be used fonly or the purchase of the approved equipment.

With a lending marketplace, you are connected with a network of lenders via a single application. The application takes only 15 minutes, and a funding manager will help you throughout the application and funding process.

SBA stands for Small Business Administration, which is a government agency formulated to help U.S. citizens create and grow their business. An SBA loan is a loan product that is insured by the SBA, which means that lenders that offer SBA loans are guaranteed to be paid by the U.S. government if the borrower fails to make payments. Because of this, SBA loans often come with lower interest rates and higher loan amounts than other loan products. However, the downside is that they take longer to process than other business loans.

SBA loans come in three types: 7(a), 504, and microloans. 7(a) is best for additional working capital, but can also be useful for refinancing current business debt. 504 is a good loan for any large asset purchase. Because new semi-trucks can be as high as $150,000, the 504 SBA loan might be a good option if you’re looking for a long loan term to lower your monthly payments. Lastly, microloans are good for small capital needs. Currently, borrowers can take out between $500 and $50,000.

This will vary based on the lender. If you are an owner-operator, the lender may want to see your CDL along with your commercial garaging location.

Lenders will have their own requirements. In general, it’s possible to purchase used trucks as long as they meet the thresholds for age and mileage on the vehicle.

Yes, there are lenders that offer semi truck financing exclusively along with dealers that offer in-house financing. Some of those include:

  • Arrow Truck Sales: Provides financing for its selection of used semi-trucks.
  • The Larson Group (TLG): Offers in-house financing for its collection of new and used trucks.
  • CAG Truck Capital: Specializes in truck and engine overhaul financing.
  • TruckLenders USA: Specializes in commercial truck and trailer financing.

8 out of 10 Lendio employees* or their families own a small business.

*based on 136 Lendio employees who responded to an internal poll

*The information contained in this page is Lendio’s opinion based on Lendio’s research, methodology, evaluation, and other factors. The information provided is accurate at the time of the initial publishing of the page (October 4, 2023). While Lendio strives to maintain this information to ensure that it is up to date, this information may be different than what you see in other contexts, including when visiting the financial information, a different service provider, or a specific product’s site. All information provided in this page is presented to you without warranty. When evaluating offers, please review the financial institution’s terms and conditions, relevant policies, contractual agreements and other applicable information. Please note that the ranges provided here are not pre-qualified offers and may be greater or less than the ranges provided based on information contained in your business financing application. Lendio may receive compensation from the financial institutions evaluated on this page in the event that you receive business financing through that financial institution.

Compare loan options from multiple funders.

Applying is free and won’t impact your credit.
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