TRUCKING SBA 7(a) LOANS
In the trucking industry, having access to reliable financing can be a game changer. The SBA 7(a) loan program, is a top financing choice for trucking owners due to its flexibility and accessibility. Whether you’re looking to grow your fleet or secure working capital, this program provides essential benefits tailored to support your business.
Longer Repayment Terms
SBA 7(a) loans offer flexible repayment terms: up to 10 years for working capital, equipment, and general business purposes, and up to 25 years for real estate purchases. Loans under 15 years can be repaid anytime without penalties, while those over 15 years have prepayment penalties in the first three years: 5% in year one, 3% in year two, and 1% in year three. After three years, repayment is penalty-free, offering flexibility and control over your loan schedule.
Competitive Interest Rates
Save on financing with the competitive interest rates of SBA 7(a) loans. Thanks to a government-backed guarantee, we can deliver more affordable rates than typical business lenders.
Lower Down Payments
The government guaranty also enables small business owners to secure financing with lower down payments compared to traditional business loans, typically up to 20% of the total project cost but in some cases as low as 0%.
Flexible Use of Funds
The SBA 7(a) loan program is widely regarded as a top choice for small businesses due to its unmatched flexibility. Unlike many traditional loans that impose strict limitations, 7(a) loans empower businesses to meet a variety of financial needs, making them versatile for nearly any business purpose or stage of growth.
What Can SBA 7(a) Do for Your Trucking Business?
Our flexible financing solutions allow you to invest in the most critical aspects of your business, whether it's one specific area or several at once:
Business Expansion
Whether you’re expanding your fleet, upgrading your equipment, or adding new routes, our loans provide the capital you need to successfully grow your trucking business.
Real Estate Investments
Purchase, build, or refinance your terminal or facility to provide your trucking business with a solid foundation for growth and success.
Working Capital
Ensure smooth day-to-day operations by covering essential expenses like payroll, fuel, maintenance, and equipment upgrades.
Debt Refinancing
Simplify your financial management by consolidating multiple loans into one, often with better terms.
Solutions for Every Stage of Your Trucking Business
Our SBA 7(a) loans are designed to support trucking owners throughout their careers, whether you’re just getting started, expanding your business, or preparing for retirement.