Towing Company
Business Loans

Quick Working Capital for Towing Business

The tow truck industry provides needed services for towns and cities, individuals, and businesses. Whether your business removes illegally-parked vehicles, rescues a stranded driver, or hauls away fallen trees, to operate successfully you need functioning, well-maintained equipment and a fleet large enough to meet demand.

For small business owners thinking of investing in or expanding a tow truck business, there’s good news. Annual growth has averaged around 7-8% a year for several years, and market size is estimated between $7 to $8 billion. The average tow truck company has $0.7 million in annual sales, as the industry is dominated by smaller, private companies with an average of eight employees. The lack of concentrated, national players makes it easier for smaller companies to break in.

But breaking into the industry or expanding often requires significant capital. Most small business owners fund their plans through a combination of savings and borrowing, or from borrowed funds.  Here are many common reasons to borrow, questions to ask yourself before borrowing, and the best business loans for tow truck company owners.

Get Your Business Loan Today

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.

    Types of Business Loans Available

    Cover payroll and employee-related costs

    The tow truck industry depends on recurring business, which in turn depends on great customer service. Whether you service customers directly, have a contract with a city or business, or subcontract for AAA, maintaining high customer service levels keeps your business profitable. If you’re dealing with high turnover or losing employees, it will impact your business.

    Smart business owners know that if they fail to make payroll, or provide training and other opportunities for their employees, they could lose important team members. Attracting and retaining talent requires paying them well and on time. But even the savviest budgeter can run into cash flow issues. 

    If your business is going through a slow or difficult time, or you’re waiting for customers to pay invoices, you may need to take out a working capital loan to cover payroll

    Expand your business

    When you’re turning a profit and you see an opportunity, it might be time to expand. At some point, many successful business owners must decide if they want to remain at their current size or continue to pursue growth. However, setting aside enough capital to fund an expansion while also covering daily operating costs can be a challenge. 

    A large business loan gives you the capital to expand but still meet working capital needs. Your business’ cash flows only have to cover the loan payment until you’ve completed the project, instead of paying all those costs up front.

    Equipment purchase, rental, or storage

    Part of an expansion plan could include purchasing or renting more tow trucks. Or, your existing equipment could have reached the end of their useful lives. Purchasing snow plows to attach to trucks could be one method to expand.

    Whether you rent or buy your equipment, you’ll also need a lot large enough to park your trucks. Tow truck company owners could take out equipment financing loans for new trucks, a loan to pay a landlord’s security deposit, or a large business loan to purchase land. 

    Investing in technology

    Computer-assisted booking keeps customers satisfied and can reduce labor costs. Route-planning software can increase efficiency and cut costs. Technology has changed every aspect of life in America, and the towing industry is no exception. 

    An investment in a technology based system could involve a significant upfront cost, with savings realized over time. Improvements in technology could support an expansion without adding new equipment, and keep your employees busier. Because it’s worth it in the long run, many small business owners borrow the funds to invest in new software.

    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.

    Business Financing Tips For Your loans

    Improving Inventory

    Most optometrists are paired with eyeglasses retailers. And to run a successful retail shop, you need inventory. Frame styles change quickly, and making sales depends on your ability.

    Optometry Equipment

    And while some of those items are cheap, most can cost thousands of dollars. A high-end refractor might set you back $4,000. An autorefractor could be even more.

    On-Site Optometry Lab

    Many optometrists and retailers outsource their lab work. And while this can be an economical option, it also means giving up control over part of the eye care process—as well as longer wait times for new glasses.

    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!