The trucking industry keeps America moving — but growing a fleet takes serious investment.
New semi-trucks and tractors can cost anywhere from $120,000 to $200,000 each, not including maintenance, insurance, or licensing. For fleet owners managing multiple rigs, that’s a major financial challenge.
Thankfully, there are several smart financing options designed specifically for trucking fleets to acquire new rigs without draining working capital.
Here’s how trucking fleets can finance new rigs in 2025 — and how to choose the best program for your business.
Buying trucks outright ties up cash that could be used for fuel, driver pay, or business expansion. Financing helps you:
✅ Spread payments over several years
✅ Preserve working capital for operations
✅ Upgrade to newer, fuel-efficient rigs
✅ Build business credit for future expansion
✅ Keep up with compliance and safety standards
Instead of limiting growth, financing lets your trucks generate revenue while you pay them off.
The SBA 7(a) Loan Program is one of the most flexible financing options for trucking businesses.
Loan Highlights:
Borrow up to $5 million
Terms up to 10 years for vehicles and equipment
Interest rates typically 8%–11%
Down payment around 10%–20%
Funds can be used for:
Purchasing new or used rigs
Expanding your fleet or terminals
Refinancing existing debt
Covering working capital or repairs
Best for: Established fleets with at least 2 years of profitability and strong revenue.
Example:
A fleet owner in Texas uses an SBA 7(a) loan to buy five new fuel-efficient tractors and refinance high-interest loans — saving $3,000 per month in payments.
If your trucking company is expanding operations, buying a facility, or adding multiple vehicles, an SBA 504 Loan may be a better fit.
How it works:
50% funded by a bank
40% by an SBA Certified Development Company (CDC)
10% down from the borrower
Benefits:
✅ Fixed low interest rates
✅ Terms up to 25 years
✅ Great for buying both property and vehicles
Example:
A regional carrier uses a 504 loan to purchase 10 new trucks and build a maintenance facility, paying only 10% down and financing the rest over 20 years.
Equipment financing is one of the fastest, most accessible options for fleets buying new or used rigs.
How it works:
The truck itself serves as collateral
Fixed monthly payments
Terms from 2–7 years
Up to 100% financing available
Advantages:
✅ Fast approval (24–72 hours)
✅ Minimal paperwork
✅ No large upfront costs
✅ Works for both new and used trucks
Best for: Fleets needing to replace older rigs or quickly add capacity for new contracts.
If you prefer to avoid ownership risk or regularly upgrade your trucks, leasing may be the smarter route.
Two main options:
Operating lease: Rent trucks for a set term, then return or upgrade.
Capital lease: Own the trucks after your final payment.
Benefits of leasing:
✅ Lower monthly payments
✅ Minimal or no down payment
✅ Maintenance often included
✅ Easier to upgrade to newer models
Best for: Fleets that replace vehicles every 3–5 years or value lower maintenance costs.
Example:
A logistics company leases 15 new tractors under a 4-year operating lease, including maintenance — allowing for predictable expenses and easy upgrades.
Many lenders offer dedicated fleet financing programs tailored to businesses purchasing multiple rigs at once.
Top providers include:
Volvo Financial Services
PACCAR Financial (Kenworth, Peterbilt)
Daimler Truck Financial (Freightliner, Western Star)
Navistar Capital
Crest Capital and Balboa Capital (independent lenders)
Advantages:
✅ Bulk purchasing discounts
✅ Custom terms for fleet size and age
✅ May include fuel, telematics, and insurance packages
Best for: Mid-sized to large fleets expanding or upgrading multiple vehicles at once.
A business line of credit gives fleet operators flexible, revolving funding for operational expenses.
Use it for:
Repairs or tire replacements
Insurance or registration costs
Fuel and driver bonuses
Covering seasonal fluctuations
Benefits:
✅ Access funds as needed
✅ Pay interest only on what you use
✅ Reuse credit after repayment
Best for: Established fleets managing fluctuating expenses.
If you need quick financing, online and alternative lenders offer fast approval and flexible qualifications.
Examples:
National Funding – Equipment and working capital loans
Crest Capital – Truck and trailer financing
Truck Lenders USA – Fleet-specific financing options
Smarter Finance USA – Works with new or growing fleets
Advantages:
✅ Funding in 1–3 business days
✅ Easier approval for newer businesses
✅ Flexible credit requirements
Tradeoff:
Interest rates are higher than traditional bank or SBA loans, but these are ideal for time-sensitive fleet purchases.
SBA 7(a) Loans – Long-term, low-rate fleet financing
SBA 504 Loans – For property and multi-rig purchases
Equipment Financing – Fast approvals using trucks as collateral
Leasing Programs – Low payments and upgrade flexibility
Fleet Financing Programs – Custom solutions for large operators
Business: Highway Logistics Group – Kansas City, MO
Loan Type: Equipment Financing
Amount: $850,000
Highway Logistics needed to expand its fleet to meet new shipping contracts. Using an equipment financing loan, they purchased seven new Freightliner rigs with 7-year terms and fixed payments.
Results:
Expanded fleet by 30%
Increased annual revenue by $2.1 million
Maintained positive cash flow during expansion
Owner’s Quote:
“Financing gave us the flexibility to grow without slowing down. The new rigs paid for themselves through added contracts.”
To secure financing, most lenders will review:
✅ Credit score: 650+ preferred (some lenders accept lower)
✅ Time in business: 2+ years preferred
✅ Annual revenue: At least $100K–$250K
✅ Down payment: 0%–20%, depending on loan type
✅ Equipment details: Quote or invoice for each rig
Pro Tip: Keep your fleet utilization rates and maintenance records organized — lenders view this as a sign of reliability and lower risk.
Financing new rigs doesn’t have to strain your business. With options like SBA loans, equipment financing, leasing, and fleet-specific programs, trucking companies can expand efficiently, manage cash flow, and keep up with demand.
Whether you’re adding your first few trucks or scaling into a regional carrier, choosing the right financing plan ensures you can grow confidently — one rig at a time.
To explore government-backed fleet financing options, visit
👉 sba.gov/funding-programs/loans
or reach out to truck financing specialists who understand your business’s unique needs.