Trucking and freight
Trucking finance when costs rise faster than loads
Operating cost per mile hit a record in 2025 and freight volumes are still soft. That combination is a working-capital problem before it is a growth problem, and the right instrument depends on which one you actually have.
What financing is available to a trucking company?
Three structures carry most of the trade. Equipment financing covers the full purchase amount of a tractor or trailer at interest from 5% over 1 to 5 years, with the unit as collateral. Invoice and receivables financing ($20,000 to $25,000,000, interest from 6%) advances against freight bills instead of waiting out broker and shipper terms. A merchant cash advance or working capital loan ($5,000 to $1,000,000, factor rate from 1.08) funds fuel, repairs and insurance in as little as the same day. Minimum: 6 months in business, ~$10,000 monthly revenue, 500 FICO.
Cost per mile is the whole story
The American Transportation Research Institute put average marginal operating cost at a record $2.336 per mile in 2025, up 3.4% on 2024, and $1.85 per mile excluding fuel, up 4.2% — both ahead of general inflation.1 The line items tell you where the money goes: driver wages $0.818 (+2.5%), fuel $0.482, truck and trailer procurement $0.40 combined (+3.6%), repair and maintenance $0.22, up 8.6%, insurance $0.11, up 3.9%, tyres $0.05 (+6.4%) and tolls $0.043 (+13.2%).1 Regionally the spread is wide: $2.52 per mile in the Northeast against $2.23 in the South-Central states.1
Two of those lines are the usual reason a carrier needs money at short notice. Repair and maintenance is the fastest-rising item in the set, and insurance premiums jumped a further 6.4% in the first quarter of 2026 against the 2025 full-year average.1 Neither waits for a settlement.
The revenue side is the mirror image. Cass Information Systems reported freight shipments down 4.8% year over year in July 2026 while expenditures rose 9.1%, with the truckload linehaul index up 8.6% — volumes soft because capacity is leaving, rates firming for whoever is still running.2 Contract truckload rates excluding fuel were up 17% year over year in July.4 If you can stay in the market, the market is improving.
Buying a truck in this market
Used equipment pricing has firmed rather than fallen. Average used Class 8 retail price was $56,128 in March 2026 (up 2.0% year over year), with sleeper tractors at roughly $105,310 at two years old, $53,370 at five and $26,890 at ten.3 By July the used average had reached $60,986, new Class 8 retail sales were 23,191 units in the month, and backlogs stood at 182,817 units, about 8.9 months of production.4
Equipment financing is the right instrument for any of those purchases, for the same reason it is right in every trade: the unit secures the loan, so approval widens and the rate starts at 5% interest rather than a factor rate. Full purchase amount financing over 1 to 5 years, typically funded in 48 to 72 hours.
Which product fits which problem
| The problem | Product | Terms |
|---|---|---|
| Tractor, trailer, reefer unit | Equipment financing | Full purchase amount, from 5%, 1 to 5 years |
| Freight bills outstanding on broker terms | Invoice and receivables financing | $20K – $25M, from 6%, up to 36 months |
| Engine or transmission failure on the road | Working capital loan or advance | $5K – $1M, factor rate from 1.08, same day to 48 hours |
| Insurance renewal or fuel spike | Business line of credit | $10K – $2M, from 1% / month, draw and repay |
| Adding several units at once | Business term loan | $20K – $10M, interest from 9%, 2 to 5 years |
One planning note from the equipment side: ACT Research calls the 2027 EPA emissions standard “one of the most important planning variables” for the sector.4 If a purchase is timing-sensitive around that, the financing decision and the buying decision should be made together rather than in sequence.
What a carrier needs to qualify
- 6 months in operation and roughly $10,000 a month in revenue for revenue-based products
- 500 FICO for an advance or working capital loan; 575+ for a line of credit
- Active operating authority and current insurance
- For invoice financing: freight bills to commercial customers, brokers or shippers
- Business bank statements Typically 3 months; some states require 4.
About five minutes to apply, soft pull only, no fee and no obligation.
Common questions
Can an owner-operator get business financing?
Yes, on the same thresholds as any other business: 6 months of operating history, around $10,000 a month in revenue and a 500 credit score for revenue-based products. Equipment financing is often the better first stop for a single-truck operation because the unit secures the deal.
Is freight factoring the same as invoice financing?
They are closely related. Both advance money against freight bills rather than waiting for the broker or shipper to pay. Invoice and receivables financing through the network runs from $20,000 to $25,000,000 at interest from 6% over terms up to 36 months. Compare total dollar cost, not the advance rate, and check whether the facility is recourse or non-recourse.
Can I finance a used truck?
Usually yes. Used Class 8 tractors have an established resale market, which is what the lender secures against. Age, mileage, engine hours and make all affect the approval and the rate. Financing covers the full purchase amount with interest from 5%.
What if I need money for a breakdown today?
A working capital loan or merchant cash advance can fund same day to 48 hours on a qualifying application. It is the most expensive money in the set, so size it to the repair invoice rather than rounding up.
Do I need good credit to finance a truck?
Less than you would for an unsecured advance. Because the equipment is the collateral, approval is wider and pricing lower than revenue-based products. Credit still affects the rate and the deposit required.
Sources
- An Analysis of the Operational Costs of Trucking, 2026 update — American Transportation Research Institute, reported by FleetOwner, 22 July 2026
- Cass Transportation Index Report, July 2026 — Cass Information Systems
- Used Class 8 truck sales hit nearly five-year high in March — Commercial Carrier Journal, 29 April 2026
- Class 8 truck sales forecast, August 2026 — ACT Research, 28 August 2026
See what you qualify for
One application, about five minutes, soft pull only. A funding specialist comes back with the offers you qualify for — and explains every term before you sign.