Trucking business loans: SBA rates and terms
Trucking Companies · NAICS 484121 (long-distance truckload); 484110 (local) · Program that usually fits: 7(a)
A trucking business loan from an SBA lender is mostly about the trucks: the SBA will finance tractors and trailers on terms that match their useful life, and it will fund working capital to cover fuel and payroll while you wait on receivables. Owner-operators adding their first few trucks are the sweet spot; large fleets usually go to commercial equipment finance instead.
Who qualifies
You need operating authority, insurance in place and some history as a driver or dispatcher. Lenders will ask for your DOT number, safety record and a list of customers or brokers you haul for. Start-ups can qualify with a signed contract or a letter of intent from a shipper.
Which SBA program fits
7(a) for trucks plus working capital
One loan can cover equipment and the cash cushion a new carrier needs, up to $5 million, with the equipment portion on a term up to 10 years.
SBA Express for a single truck
Under $500,000, an Express loan funds a tractor-trailer purchase quickly, though at a slightly higher rate because the SBA guarantee is smaller.
504 for a terminal or yard
If you buy a shop, yard or terminal, a 504 loan finances the real estate and heavy equipment at a fixed rate.
What borrowers use the money for
- Buying new or used tractors and trailers
- Working capital to cover fuel, payroll and insurance between settlements
- Buying out another carrier or its customer contracts
- A maintenance shop, yard or terminal
- Refinancing high-rate equipment notes
Typical loan amounts, down payment and terms
Loans for a first truck often start around $150,000. Fleet expansions of three to five trucks run $500,000 to $1 million. Equity injection is usually 10% to 15%. Used trucks older than a few years get shorter terms, and lenders will want an appraisal or dealer invoice for each unit.
Example: a $250,000 loan
At today's maximum variable 7(a) rate of 10.00% over 10 years, the payment would be about $3,304 a month. Most well-qualified borrowers get a lower rate. Try your own numbers.
Today's rate caps
These are the SBA's maximum 7(a) rates with prime at 7.00%. See current SBA 7(a) rates and SBA 504 rates for the full picture.
| Loan amount | Maximum spread | Maximum variable rate today |
|---|---|---|
| $50,000 or less | Prime + 6.5 | 13.50% |
| $50,001 to $250,000 | Prime + 6.0 | 13.00% |
| $250,001 to $350,000 | Prime + 4.5 | 11.50% |
| Over $350,000 | Prime + 3.0 | 10.00% |
Related industries and lenders
Related industries
SBA lenders active nationwide
Questions about trucking business loans
Can a trucking company get an SBA loan?
Yes. Trucking is one of the larger industries in SBA lending, with 7(a) loans used for trucks, trailers and working capital. You need active authority, insurance and either an operating history or a contract that shows where the freight will come from.
How much can I borrow for trucks with an SBA loan?
Up to $5 million on a 7(a) loan. Most owner-operators borrow between $150,000 and $750,000. The SBA guarantees 75% of loans over $150,000, which is what lets banks lend on used equipment.
What is the term on an SBA truck loan?
Equipment terms match the useful life of the trucks, usually 7 to 10 years for new tractors and shorter for used ones. Working capital is 10 years. Real estate, if included, can push the whole loan to 25 years.
What interest rate do trucking SBA loans carry?
With prime at 7.00%, the cap is 13.00% for loans between $50,001 and $250,000 and 10.00% above $350,000. Expect lenders to price near the cap on start-up carriers and lower for established ones.
Can I refinance existing truck loans with an SBA loan?
Often, yes. The SBA allows refinancing when the new loan improves your cash flow by at least 10% and the old debt was on reasonable terms. High-rate equipment finance notes are a common target for this.
Sources: SBA 7(a) terms, conditions and maximum variable rates; Federal Reserve H.15 selected interest rates (bank prime loan rate); October 2026 SBA 504 debenture pricing, as published by CDCs; SBA FOIA 7(a) and 504 loan-level data.