Business Loans
for Truckers

Get Business Funding for Trucking & Logistics

The trucking industry was a $791.7 billion industry in 2019, and has only grown since the coronavirus increased the nation’s reliance on shipping and home delivery. According to the U.S. Department of Transportation, 91.5% of trucking companies operate less than six trucks, and 97.4% have less than 20 trucks. This means less competition for newer entrants into the market. Experts predict an upcoming labor shortage of 160,000 drivers by 2028.

Your company may have to pay more to attract top talent. If you’ve been working for a trucking company, now would be the time to launch out on your own. It’s a great time to invest in your trucking business. If you lack the capital reserves to fund an investment yourself, lenders offer a variety of loans for trucking companies. Read on to discover the best uses for a trucking business loan, the questions to answer before borrowing, and your best loan options.

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What Do I Need to Qualify?

Below is a list of the requirements to get approved for business funding with our most basic program.

  • At Least 3 Months in Business
  • 530 Min. Credit Score
  • $10,000 Min. Monthly Revenue
  • How Do I Apply?

    Applying has never been easier. You can either call our toll free number 24 hours 7 days a week at


    Submit your online application by clicking apply below and entering a few basic details about your business.

    Best Uses for a Trucking Business Loan

    When would a trucking company or owner-operator need to borrow? These are some common situations you might face when building or growing your business where borrowing would be a good choice.

    • You want to stop driving for another company and become an owner-operator
    • It’s time to expand your commercial truck fleet
    • An emergency vehicle replacement
    • To meet working capital needs
    • Hiring more drivers
    • Upgrading technology and improve logistics
    • Realize inventory savings

    Types of Business Loan Available

    Small Business Loans

    This is a short term small business loan that you can use for any type of expense. You can use it to cover seasonal swings in business, pay a new chef, or open an entirely new location. Whatever you need for your business, these simple term business loans will help you get it.

    We offer up to $1,000,000 in funds for restaurant owners. And with interest rates of 5–45%, you can get a better deal than you would with some traditional lenders. As long as you’ve been in business for two months, earn $8,000 or more per month, and have a credit score of 500 or more, you can qualify for one of these loans.

    Our terms range from 12–36 months, so you can get the amount and terms that work for you.

    Unsecured Business Loans​

    Traditional lenders often require collateral when they give you a loan, which means you’re putting your business on the line. That’s not a good way to start a financial relationship.

    We offer unsecured business loans, so you don’t need to put up any collateral. Because we’re an alternative lender, we’re able to offer this funding service alongside our already great rates. You can feel more comfortable with our business loans knowing that we aren’t about to take your oven or your bar stools if you miss a payment.

    Merchant Cash Loans​

    We know that  restaurants have a tough time receiving working capital because of the volatility of the industry. If you try to get a loan from a traditional lender, you’ll get denied fast. But we don’t think your industry should disqualify you from getting funding for your restaurant business.

    So we offer short term merchant cash advances of up to $1,000,000 to restaurant owners with credit scores above 500. You’ll pay 12–45% interest on terms up to 36 months. As long as your restaurant has been open for a few months and you have $8,000 in monthly revenue, you can qualify.

    Working Capital Loans

    Restaurants have a lot of day-to-day expenses, and that’s what working capital funding is for. Whether it’s covering payroll, stocking the bar, or taking advantage of a marketing or advertising opportunity, these loans help you with the more mundane expenses of running a restaurant.

    Like our term loans, you can get up to $1,000,000 in working capital. You still get the option of terms between 12 and 36 months and interest rates from 9–45%. You’ll need to have two months in business, and at least $10,000 in monthly revenue to qualify. You’ll also need a credit score of 650 or better.

    If you meet these qualifications, you can get the funding you need to cover any expense you might come across, from an emergency repair to making sure your freezers are full of food.

    Apply Directly to One Source!

    Work with a direct lender and get a business loan as fast as the same day. Shield Funding offers competitive rates and terms on all it’s funding programs. Apply now with a trusted lender that has been helping business owners secure working capital for almost two decades.

    Questions to Ask Before Taking Out a Trucking Business Loan

    Before filling out a loan application, ask yourself these questions. The answers will guide you to the best lender and loan product to meet your borrowing needs.

    Why have you decided that it’s time to borrow? Do you need to purchase a new truck, or cover payroll and rent? The reasons that underlie your borrowing need often can guide you to the best loan product. 

    To cover daily operating expenses, a working capital loan is the best option. Equipment financing loans will have the best terms for a new truck purchase. Establishing why you need to borrow leads to the next question – how large of a loan to take out.

    How much capital do you need? Once you know why you need to borrow, put together a budget that covers the total cost of your project – whether it’s the purchase of a logistics tracking software or adding to your fleet. You’ll need this number before approaching lenders. 

    Traditional borrowers prefer to extend capital for longer terms and a larger amount. If you need a smaller loan for just a few months, they might not work with you. To fund a large commercial truck purchase, you’ll need to approach an equipment financing lender who extends credit large enough to cover the total purchase price. 

    When you apply for a loan, you want it to cover your entire borrowing need. Otherwise, you could end up having to stack loans on top of each other to complete the project. Loan stacking is a risky practice that could harm your cash flow and business’ long-term operations. 

    Make sure to add loan payments to your budget. Depending on the size of your project, you’ll likely have to make payments before it begins to generate revenues. Make sure that your business’ cash flows cover those payments before you’ve seen an increase in revenues. 

    Prepare cash flow projections for several scenarios – if the project takes longer to complete than planned, if snow delays and road closures impact the month’s revenues, or if you can repay the loan faster.  The more you plan for the loan ahead of time, the more successful your borrowing experience.

    When preparing your budget, you may discover that your business can’t support the loan payments. If that’s the case, consider scaling back your plans or revising them so that you don’t have to borrow as much. 

    Traditional lenders prefer to work with borrowers with a credit score above 720. In rare cases – such as if you have strong collateral – they will extend credit with borrowers who have a score down to 650. But if you have a low credit score, you will need to approach alternative lenders for your funding needs.

    Before you begin the months-long process of applying for and receiving approval for a bank loan, check your credit score. If you have a low credit score, save time and approach lenders you already know will extend you credit.

    Funding Business Dreams Everywhere

    Want to find out more about how our loan products can help your eye care business? Get in touch today and we’ll help you find the right loan for your business!