SBA Working Capital Loans for Trucking Companies
- Trucking-Friendly Lenders – FastwaySBA works with banks that offer SBA loans to trucking, transportation, and logistics businesses nationwide.
- Basic Requirements – FICO 660+, 2 years in business, and a valid DOT registration are required for eligibility.
- Loan Amounts & Terms – SBA loans range from $50K to $500K, with Prime + 2.75% interest over 10 years, and collateral requirements vary by loan size.
Many banks do not lend to Trucking Companies, but FastwaySBA has long established working relationships with the best banks that provide SBA guaranteed loans to trucking, transportation and logistic companies in all 50 States.
For SBA working capital term loans, we lend to the entire transportation SIC code 4213; this includes trucking companies that operate local, regional or national. There are certain baseline requirements that exist for all working capital loans to trucking companies. One key often unconsidered requirement is that the trucking company must have their own DOT registration and not lease another trucking company’s DOT registration.
Key Requirements:
- Owner FICO 660+
- Time in Business 2 years (with 2 years tax returns)
Interest Rate: Prime + 2.75% over a 10-year term
Loan Size Determinant: 35% of past 2 years average annual revenue; minimum annual revenue of $50,000 (-) business debt
1. Loan Amount: Up to $50,000
- ETRAN: Minimum 155
- Collateral: None required
- FICO: 660 Minimum
2. Loan Amount: $50,001 - $150,000
- ETRAN Score: Minimum 155
- FICO: 660 Minimum
3. Loan Amount: $150,001 - $250,000
- FICO Score: Minimum 700
- ETRAN Score: Minimum 165
- Collateral: Blanket lien required
4. Loan Amount: $250,001 - $500,000
- FICO Score: Minimum 700
- Years in Business: 3 years
- Collateral: Blanket lien required
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