7 Financing Options For Truck Drivers To Grow Their Fleet

Making the move to start your own business as a commercial truck driver is a big step. But once you’ve successfully established yourself as an owner operator, the next step is to grow your fleet. If you’ve been dreaming about owning your own fleet of trucks, but you’re not sure how to take the next step, 10-4 Financing can help.

Truck Financing Can Help You Realize Your Dreams

Even a highly successful truck owner and driver will most likely need financing to purchase additional trucks. Financing makes it possible to purchase a truck and use the income earned by that truck to pay it off. 

Financing options for commercial trucks include:

  1. First timers. We provide truck financing for commercial drivers who are purchasing their first truck. Whether you’re an experienced driver who has worked for one or more trucking companies, or you’re just getting started as a truck driver, we have financing options that work for first time truck buyers. Owning your own truck is just the beginning of a lucrative business, and we want to offer you your first opportunity. 
  2. Financing for bad credit. Are you worried that your bad credit history or low credit score will keep you from qualifying for financing? 10-4 understands that financial hardships happen and we believe that everyone deserves an opportunity to better their situation. We offer financing to commercial drivers regardless of your credit score. 
  3. Owner operator financing. If you already have your own truck and wish to expand your business, we can finance additional trucks to help you build your fleet. Once you’ve established your business and have a steady income, it is much easier to qualify for financing to purchase additional trucks. You may also qualify for a lower interest rate. 
  4. Truck factoring. Do you have unpaid invoices from completed deliveries? We can help you collect on these invoices and use the funds to purchase new trucks. You can sell us your invoices and we will pay you somewhere between 85-97% of the value up front. Then we do the collection work and give you the remaining balance minus our fee. This gives you the funds you need immediately. 
  5. Business line of credit. A business line of credit allows you to use funds for whatever your business needs, whether it’s new trucks or other equipment. This line of credit is revolving, so as you pay down the balance, more credit is available to you. 
  6. Truck fleet financing. If you already have a fleet of trucks, we can provide financing to help you expand your fleet even further. We offer competitive rates to help you keep your expenses low. 
  7. Trailer financing. Owning your own trailers is another way to grow your business and save money. We provide financing for trailers as well as trucks. 

10-4 Financing Can Help You Grow Your Business Today

Are you ready to expand your fleet today and see where your business can go? We provide financing for truck drivers that allows you to take your business to the next level. Contact us to get started.  

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