Get money on your semi-trailer, dump truck or business vehicle now!
If your business has big rigs and needs capital, it can get a loan against tractor trailers, semi trucks, and any business or commercial vehicle. Even 1 semi trailer truck can be enough to get capital. Loan amounts starting as low as 2,000 and up.
There are several loan programs and resources available in the marketplace to get semi-trailer truck financing. Credit scores can be lower under this program. Credit scores of the owner can be below 500. The truck or semi-truck has to be free and clear collateral.
How to get a loan on a semi truck trailer, big rig or business vehicle: How to steps, direction, and tips:
Estimated Cost: $0
Total Time: 1 Day
Supplies Needed: Semi truck trailer or business vehicle, title, picture of semi truck and odometer. Time available.
Tools needed: Internet connection, phone, computer
Step 1: Preparation
Research companies that offer loans against semi trucks or big rig 18 wheelers. Search for programs that best match your business need for the amount needed, the value of your semi rigs, and credit.
Step 2: Have your information on your big rig semi trucks ready to go. Have a list of the value of your vehicles.
Tip: Start the process a few days before needing funding. You may need to get together information you were not expecting to get.
Remember that regular business vehicles such as vans may also qualify.
Information on the trucks you will need includes manufacturer, year, model number, title, a picture of the odometer and a couple of
pictures of your truck.
Step 3: Settle on the top 2 or 3 programs that best matches the value of the semi trucks you have and the amount you need.
Contact qualifying companies and ask about their approval requirements.
Tell the lender the basic information on the trucks and try to find out what your chances of approval are. Also ask if you can be pre qualified.
Step 4: Submit an application
Apply with the program that can most likely get your business a loan against your semi trucks based on the conversations you had with the lender and review of their criteria. Complete an application for funding and provide the supporting items such as copy of the title, pictures and odometer reading.
Step 5: Review approval offers
After approval, review all closing terms and conditions. Make sure you can provide required closing items. Complete transaction and receive funding.
If you were declined, contact the lender and try to find out why. Try to find out if you are able to do anything to get the decision reversed and get approved. If you cannot get approved, then go back to the other lenders you looked at during your search. Ask if the reason for your decline will be a decline reason for them. If not, then consider applying with one of the other lenders.
FAQ on how to get a loan on a semi-trailer, truck or business vehicle
Can I get money against my semi-trailer?
Yes. Your paid off semi-trailer, tractor-trailer, big rig, 18 wheeler, dump truck or business vehicle can qualify. You have to prove ownership of the vehicle and have the title. It must be in your possession or in the shop. For smaller cars and trucks, the business name should be listed on the vehicle and used mostly for business.
How much can I get?
You can get about 40% to 50% of the retail value. This is close to the wholesale or auction value. You can also use the Truck as collateral to make it easier to get financing to buy another rig.
Can I get money against my broken down semi-trailer to pay for repairs?
Yes, you can get money against a semi-trailer and other vehicle types in the shop to pay for repairs. The shop will be paid directly to get your big rig back on the road asap. If the repair cost is less than the loan, then you will get the difference paid to you in cash.
Recent Customer requests
Last week the owner of a single rig trucking company called and said his truck went down and was in the shop. The customer needed $6,700 for repairs and his credit score was mid 500’s. He wanted to get funds against his Semi-Truck. The truck has a value of approximately $25,000. He still owed about $16,000 on it and as a result, we referred him to another loan product because the semi-truck has to be free and clear.
A company should make up a list and provide it to the lender to get a loan against 18-wheelers. Offering multiple trucks is also another way to get more money. The trucks normally have to be free and clear. The terms the customer can get are usually attractive because they are not short term and the collateral is valuable, so the lenders will give more attractive rates. The customer can get a decision within one business day and closed within a week.
Click on the contact link and get more information.
Loan amounts are based on roughly 2 to 1 collateral and also on the wholesale value. Businesses with 2 semi-trucks worth $100,000 for example, will get an offer in the $40,000 to $50,000 range.
Online resources include an interest calculator. Customers can type in the loan amount, the number of months and the monthly payment to find out the interest rate.
For example, on a loan for $100,000 for 60 months with a payment of $2,163, the interest rate calculates to 10.77% and a total repay of $129,780.
Additional collateral is not required. If a company obtains this loan, a site inspection is normally done by the lender. The customer pays for a site inspection. Another Tip: The trucks have to be accessible and in working order. A UCC filing is placed with the department of motor vehicles in the state the business resides in.
Thank your for visiting our loan against tractor trailer page. The success of your business is our goal.
With a loan against equipment a business can get working capital. In a loan on equipment or vehicles, the owner keeps the equipment or vehicles and retains ownership when it is paid off. This asset based option is often used as one way to get a large business loan.
Qualifying equipment includes many types of construction and industrial equipment, business and commercial business vehicles. This includes tractor trailers, big rigs, commercial vehicles and semi -trucks. Low credit scores down to 500 and below may qualify. Complete the secure app below to get funding now.
Tools needed: Internet connection, phone, computer
How to get a loan against equipment
1. Prepare your asset list.
Make a list of the free and clear equipment assets your business owns. Include description, manufacturer, year, and model numbers.
2. Have your asset list ready to provide.
Tip: Available programs lend up to a maximum of 60% on qualifying assets and must be free and clear. Eligible equipment is very restricted.
Search for Lenders that specialize in loans against equipment. Most lenders only lend against 2 or 3 equipment types. These include construction equipment, dump trucks, and tractor trailers. Maximum age limits are common.
3. Contact the lenders that provide loans on the free and clear equipment you have
Ask about the approval and closing requirements. Find out what assets are accepted and what percent of the value can be loaned against. Also ask about credit scores, documentation required, and time to close. Settle on the program that is the best match for your business compared to the requirements.
How to Tip:
Provide the lender your asset information. Ask if they can review your asset list and pre-qualify you based on the value.
4. Complete an application
Provide any income verification and asset information you have when applying. Pictures and copies of any titles front and back are advised.
5. Close Transaction
Review any approval terms and conditions. A site inspection paid by the borrower may be required as well as proof of purchase and ownership. If you are declined, contact the lender to find out if you can cure the decline reasons and obtain an approval.
Once you are ready to close, request documents and finish the paperwork. Complete all closing items required and receive funding.
FAQ Frequently asked questions on a loan against equipment or vehicles.
What is a loan against equipment?
A loan on equipment lets businesses use the equipment or vehicles they own outright to qualify for a business loan. Borrowers can get a loan against construction equipment as well as tractor trailers and semi-trucks. Other qualifying assets include business vehicles and some types of machinery. The approval process is usually one or two days and the collateral stays on your property.
How much can I get?
You can get up to 60% against the current retail value of qualifying pieces. If your equipment has higher than market value, then provide documentation to prove the value from upgrades or customization.
How do put a value on the pieces?
Asset value data is used for each equipment type. The prices of comparable pieces on sale through industry leading vendors and suppliers may be used.
How old can my assets be?
Most trucks can be up to 8 years old. More than 8 years can still be funded with reduced approvals. Construction pieces and machinery can be older depending on the type, manufacturer, model and age.
Do I need to have proof of ownership?
Proof of ownership will be needed. Title, registration or bill of sale can be used for proof of ownership. Proof of purchase may also be needed and can be a paid invoice, loan or lease payoff letter, or bank proof of payment.
Can you take trucks or cars as collateral?
Free and clear trucks or cars including big rigs, semi trucks, OTR over the road tractor trailers, dump trucks, and vans may be used as security. Standard trailers such as big tex and gooseneck can be pledged. Cars, trucks and passenger vehicles may qualify if they are used partially for business.
Cnc milling machines, 18-wheelers, rigs, tractor trailers qualify. Machine tools may also bring significant working capital.
Construction equipment such as front end loaders, bobcats, skid steers, bulldozers, ditch witches, woodworking equipment, semi trucks, 18 wheelers, tractor trailers may also qualify.
Your business makes money by using equipment rather than owning it. Get the unused cash in your equipment and use it for cash flow in your business.
Submit the one page loan against equipment application and also the equipment list . Decisions are usually made in 1 day. Funding happens within five business days. $150,000 total funding is available.
Tell us the type of loan you are looking for. Callers ask for different types of loans. Some ask for a loan against construction equipment. Others ask for a loan on equipment using their construction assets. Some callers request a loan on machinery.
Underwriting reviews the age and condition of the equipment. Complete the equipment list. Use the most valuable and newest equipment on hand. Older equipment may qualify. This includes trucks and tractors. Through this loan against equipment, loans against a tractor-trailer is approved. It is also called a loan against an 18 wheeler as well as a loan against semi-trailer truck. Other products are a loan against a big rig, and loan against a semi truck.
Top 3 equipment types to get a business loan on or against
1 OTR Over the road trucks 2012 and newer
2 Construction Equipment or yellow iron
3 Dump trucks
Top 7 vehicles to get a business loan against:
1 Commercial Vehicles
2 OTR Over the road trailers
3 Big Rigs
4 Semi Trucks
5 Dump Trucks
The following are examples of equipment and vehicles that can qualify under the program!
1. Cat 314ELCR
2. Cat TL943
3. Doosan DX 300LL-5
4. Ford F250XL and Ford F350XL
5. Ford F450
6. John Deere 225DLC
7. Kenworth T370
Representatives service the following cities in the Western Region and can be contacted.
Alaska, Hawaii and California
In Anaheim, CA and Anchorage, AK. Bakersfield, CA and also in Carlsbad, CA. Chula Vista and also Fontana, CA. Fremont, CA and in Fresno, CA. Hayward, CA and Honolulu HI. Irvine, CA and in Madera, CA. Modesto, CA and also Merced, CA. Oakland, CA and in Ontario, CA. Oxnard, CA and Riverside, CA. Roseville, CA and Francisco, CA. San Jose, CA and also San Diego, CA. Santa Ana, CA and in Santa Clara, CA. Santa Rosa, CA and Sacramento, CA. Salinas, CA and in San Bernardino, CA. In Santa Barbara, CA and also Santa Maria, CA. Sunnyvale, CA and in Stockton, CA. Thousand Oaks, CA and Vallejo, CA. Ventura, CA and also in Visalia, CA.
Representatives in the following cities may also be contacted:
Nevada, Oregon and Washington:
In Bellevue, Washington and Eugene, OR. Everett, WA and in Henderson, NV. Kent, Washington in addition to Las Vegas, NV. Olympia, WA and also Portland. Reno, NV and Seattle, WA. Olympia, WA and in Paradise, NV. Portland, OR in Renton, Washington. Salem, OR and in Seattle, WA. Sparks, NV as well as Spokane, WA. Tacoma, WA, Vancouver, Washington and Yakima, Washington.
Arizona and Utah:
Albuquerque, AZ and Avondale, AZ. Chandler, AZ and in Flagstaff, AZ. Gilbert, AZ and in Glendale, AZ. Goodyear, AZ and also Mesa, AZ. Nogales, AZ as well as Ogden, UT. Phoenix, AZ and in Peoria, AZ. Provo, UT and Scottsdale, AZ. Salt Lake City, UT and also Scottsdale, AZ. Surprise, AZ and also in Tempe, Arizona. Tucson, AZ, Yuma, AZ and San Tan Valley, AZ.
Colorado, Idaho, Montana, New Mexico and Wyoming:
In Albuquerque, NM, Aurora, CO. Boise, ID and in Cheyenne, WY. Colorado Springs, CO as well as Denver, CO. Helena, MT and Lakewood, CO as well as Santa Fe, NM.Consultants in the following cities can be called to schedule a same day appointment.
Kentucky, Virginia, Washington, D.C., and West Virginia: In Alexandria, VA and Arlington, VA. Chesapeake, VA and in Hampton, VA. Huntington, WV and also in Kenner, VA and Lexington, KY. Louisville, KY as well as Lynchburg, Virginia. Newport News, VA and in Norfolk, VA. Petersburg, VA and also in Portsmouth, Virginia. Richmond, VA and Roanoke, Virginia. In Suffolk, Virginia and also Virginia Beach, VA.
North Carolina, South Carolina:
In Anderson, SC and Asheville, NC. Cary, North Carolina and also in Chapel Hill, NC. Charleston, SC and in Charlotte, NC. Chattanooga, TN as well as Columbia, SC. Concord, NC and Davidson, TN. Dunn, NC, Durham, NC and Fayetteville, NC. Franklin, TN, Gastonia, NC. as also in Greensboro, NC. Greenville, SC, Henderson, NC as well as Hickory, NC. High Point, NC, Kingsport, TN and Knoxville, TN. In Maudlin, SC, Memphis, TN and also Morristown, TN. Murfreesboro, TN, Myrtle Beach, SC and Nashville, TN. North Charleston, South Carolina as well as Raleigh, NC. Sanford, NC, Lenoir City, TN and in Shelbyville, TN. Spartanburg, SC, Wilmington, North Carolina and Winston-Salem, NC.
In Cape Coral, FL, Clearwater, FL and Daytona Beach, FL. Also in Jupiter, FL, Fort Myers, FL as well as Ft. Lauderdale, FL. Hialeah, FL, Jacksonville, FL and Lakeland, FL. Melbourne, FL, Miami, FL and Ocala, FL. Pensacola, FL, Kissimmee, FL as well as Naples, FL. Orlando, FL, Ormond Beach, FL and also in Palatka, FL. In Palm Bay, FL, Pensacola, FL and also Port St. Lucie, FL. Saint Petersburg, FL, Sanford, FL and Tallahassee, FL. In Tampa, FL, West Palm Beach, FL as well as Winter Haven, FL.
Alabama, Georgia, and Mississippi:
In Atlanta, GA, Augusta, GA and Birmingham, AL. Gulfport, MS, Hoover, AL and also Huntsville, AL. Jackson, MS, Mobile, AL as well as Montgomery, AL. Savannah, GA,
Arkansas and Louisiana:
Also in Baton Rouge, LA and Fayetteville, AR. Forrest City, AR, Lafayette, LA and Little Rock, AR. Metairie, LA and New Orleans, Louisiana. Baton Rouge, Louisiana, Shreveport, Louisiana and also Lafayette, Louisiana.
Oklahoma and Texas:
In Arlington, TX and Austin, TX. Bartlesville, OK, Beaumont, TX and in Corpus Christi, TX. Dallas, TX, Edinburg, TX and in El Paso, TX. Ft. Worth, TX, Houston, TX as well as Killeen, TX. Lafayette, LA, Mission, TX and Muskogee, OK. Oklahoma City, OK, McAllen, TX and also in New Braunfels, TX. Round Rock, TX, San Antonio, TX, as well as Shawnee, OK. Sugarland, TX, and The Woodlands, TX as well as Tulsa, OK.
Representatives in the following Midwest cities can be contacted for working capital against equipment:
Illinois, Indiana, Wisconsin:
In Anderson, IN, Carmel, IN, and Aurora, Illinois. Chicago, Illinois, Elgin, Illinois as well as Rockford, Illinois. Joliet, Illinois, Lee’s Summit, Missouri and in Naperville, Illinois. Springfield, Illinois, Peoria, Illinois and also in Elgin, Illinois. Waukegan, Illinois, Cicero Town, Illinois as well as Champaign, Illinois. Bloomington, Illinois, Decatur, Illinois and Eau Claire, WI. Fort Wayne, IN, Gary, IN and in Indianapolis, IN. Madison, WI, Milwaukee, WI and Naperville, IL. Green Bay, Wisconsin, Kenosha, Wisconsin, and Peoria, IL. Racine, WI, Springfield, IL and also Waukesha, WI.
Michigan and Ohio:
In Akron, OH, Ann Arbor, MI and Canton, OH. Cincinnati, OH, Cleveland, OH and also Columbus, OH. Dayton, OH, Dearborn, MI and in Detroit, MI. Flint, MI, Grand Rapids, MI as well as Marion, OH. Maysville, OH, Muskegon, MI and Parma, Ohio. Toledo, OH, Wilmington, OH, Wyoming, MI and also Youngstown, OH.
Kansas, Nebraska, North Dakota and South Dakota:
In Council Bluffs, NE and Kansas City, MO. Lawrence, KS, Omaha, NE as well as Wichita, KS.
Iowa, Minnesota, and Missouri:
In Bloomington, MN and Columbia, MO. Davenport, IA, and also Des Moines, IA. Duluth, MN and also Independence, Missouri. Kansas City, Missouri and Minneapolis, MN. Overland Park, MO as well as Rochester, Minnesota. Springfield, MO, St. Charles, MO as well as St. Joseph, MO. Springfield, Missouri and St. Louis, Missouri. St. Paul, Minnesota and St. Cloud, MN.
In Albany, NY, Batavia, NY and Buffalo, NY. Cheektowaga, NY, New York City, NY as well as Niagara Falls, NY. Rochester, NY, Schenectady, NY, Seneca Falls, NY and Syracuse, NY.
Maine, Vermont, New Hampshire and Massachusetts:
In Bangor, ME and Boston, MA. Burlington, VT, Cambridge, MA and Concord, NH. Montpelier, VT, Newton, MA as well as Portland, ME. Providence, MA and Springfield, MA. In Warwick, MA as well as Worcester, MA.
Pennsylvania, Maryland and Delaware:
In Allentown, PA and Baltimore, MD. Bethlehem, PA, Columbia, MD and Dover, DE. Harrisburg, PA, Lancaster, PA and in Lansing, MI. Lebanon, PA, Manchester, PA as well as New Castle, PA. Philadelphia, PA, Pittsburgh, PA and also Reading, PA. In Salisbury, MD, Scranton, PA and Towson, MD. In Weirton, PA, Wilmington, DE and also in York, PA.
Connecticut, New Jersey and Rhode Island:
In Bridgeport, CT and Camden, NJ. Hartford, CT, Jersey City, NJ as well as Milford, CT. New Haven, CT, New London, CT and Newark, NJ. Norwalk, CT and Norwich, CT. Providence, RI, Stamford, CT and also in Trenton, NJ.
Visit the SBA. for more information on how assets can also be used in business loans and personal loans.
Thank you for visiting our loan against equipment resource page.