Trucking
Trucking companies face high capital demands for vehicle purchases, fuel, insurance, and maintenance while waiting 30 to 90 days for freight brokers and shippers to pay invoices. Impruvu connects carriers, owner-operators, and logistics companies with funding from $25,000 to $5 million, including freight factoring that converts unpaid invoices into same-day cash.
Funding for Trucking
The trucking industry is capital-intensive at every level. A single new Class 8 semi-truck costs $150,000 to $200,000, and a used truck in good condition runs $50,000 to $100,000. Add trailers at $30,000 to $80,000 each, annual insurance premiums of $10,000 to $20,000 per truck, and fuel costs that can exceed $70,000 per truck per year, and it becomes clear why access to capital is the difference between growth and stagnation for most carriers.
Impruvu works with lenders and factoring companies that specialize in transportation financing. Freight factoring is the most widely used product in the industry, allowing carriers to sell unpaid freight invoices and receive 90-97% of the invoice value within 24 hours instead of waiting 30-90 days for payment. This solves the core cash flow problem that every trucking company faces: fuel, drivers, and maintenance must be paid immediately, but revenue arrives weeks or months later.
For fleet expansion, our equipment financing partners offer truck and trailer loans with terms up to 7 years and competitive rates for both new and used commercial vehicles. Owner-operators with as little as one truck and 6 months of operating history can qualify. Larger carriers looking to add 5-50 trucks can access fleet financing packages with volume-based pricing.
Common Trucking Funding Challenges
Why Choose Impruvu for Trucking Funding
- Freight factoring with same-day funding and advance rates of 90-97% on verified invoices from creditworthy brokers and shippers
- Truck and trailer financing up to $5M with terms up to 7 years for new and used Class 6-8 commercial vehicles
- Fuel cards and fuel advance programs integrated with factoring to reduce per-gallon costs and simplify cash management
- Lending partners familiar with FMCSA authority requirements, DOT compliance, and the seasonality of freight markets
Recommended Funding Products
Frequently Asked Questions
Freight factoring lets you sell your unpaid freight invoices to a factoring company in exchange for immediate cash. After you deliver a load and submit the invoice, the factoring company verifies the load with the broker or shipper and advances you 90-97% of the invoice value, usually within the same business day. When the broker pays the invoice (typically in 30-60 days), the factoring company releases the remaining balance minus a factoring fee of 1-5%.
Yes. Owner-operators with at least 6 months of operating authority and a FICO score of 550 or higher can qualify for truck financing. Down payments typically range from 10-20% of the vehicle price. For experienced operators with strong credit, zero-down financing may be available on select vehicles. Both new and used trucks are eligible, with used vehicle financing available for trucks up to 10 years old or under 750,000 miles.
With recourse factoring, you are responsible for repaying the advance if the broker or shipper does not pay the invoice. Recourse factoring typically has lower fees (1-3%). With non-recourse factoring, the factoring company assumes the credit risk if the broker fails to pay due to financial insolvency, but fees are higher (3-5%). Most carriers start with recourse factoring and switch to non-recourse for higher-risk broker relationships.
Funding amounts depend on the product. Freight factoring lines typically range from $25,000 to $10 million per month based on your invoice volume. Equipment financing for trucks and trailers ranges from $50,000 to $5 million. Working capital lines of credit are available from $25,000 to $1 million. The amount you qualify for depends on your revenue, fleet size, credit profile, and time in business.
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