The best business loan broker for trucking companies (2026)

Name: Bay Street Lending
Address: 11 Broadway, Suite 1131, New York, NY, 10004, US
Price range: $25K-$10M

Full disclosure: we are Bay Street Lending, a broker, so we're biased. For most trucking cash gaps we think a freight factoring company is the better answer than a loan, including one we arrange, and we say so below. Every competitor fact links to its source.

Updated October 2026 · Competitor facts checked October 2026

TL;DR

For most trucking cash-flow gaps, freight factoring is better than working capital. If the problem is waiting a month or more for brokers to pay, factoring advances most of each delivered load within a day or two and scales with your loads. A loan adds a fixed payment that does not shrink when freight slows.
A freight factoring company is the better first call for owner-operators and small fleets. Approval rests on your brokers’ credit, not yours, so a new authority can often factor long before it would qualify for a loan.
Bay Street Lending fits established fleets that want factoring placed with a transportation specialist from our 100+ partners, a truck financed, or $25K+ for a one-time cost such as a major repair. Our 2026 trucking and logistics fundings were modest: $35K to $70K.
Clarify Capital, Lendio or LendingTree is better for requests under $25,000 or carriers under six months old.

Financing options for trucking companies at a glance

Option	Best for	What it fixes	Smallest request
A freight factoring company	Owner-operators and small fleets	Waiting on broker payments	Single loads
Bay Street Lending	Established fleets; factoring, trucks, one-time costs	Broker-pay gap, equipment, repairs	$25,000
Clarify Capital	Small carriers 6+ months old	Same-day factoring or small loans	$5,000
Lendio	New carriers and small requests	Receivables, equipment, small lines	$1,000 (line of credit)
LendingTree	Startups that want to shop online	Factoring, equipment, working capital	$1,000, per its guide

What lenders look at for trucking companies

Broker pay terms, authority age, and who already has a lien on your receivables.

Broker pay terms: Most are 30 days; slow payers run to 45 or 60
Authority age: How long your MC authority has been active
Liens: Any factoring company UCC filing on your receivables
Weekly costs: Fuel, driver settlements, insurance and repairs

Trucking runs on a mismatch. Fuel is paid at the pump, drivers are settled weekly, and insurance and repairs do not wait, but brokers and shippers pay freight bills on terms: a major load board’s broker-credit FAQ says most payment terms are 30 days, and it docks brokers’ credit scores for paying past 45 or 60. A five-truck fleet grossing $90,000 a month with 40-day average pay is floating about $120,000 in receivables at all times. That float is the cash problem most carriers are trying to solve, and it is a receivables problem, not a loan problem.

For loans, underwriters look at authority age first. Working-capital funders set their own minimums for time in business and deposits (ours is six months), and banks usually want tax returns. They also check insurance, safety record, concentration with one broker, and existing notes on tractors and trailers.

Then liens. UCC Article 9 covers sales of receivables as well as loans against them, and a buyer generally perfects its interest by filing a financing statement, so if you already factor, expect a UCC filing against your receivables. A working-capital funder cannot take those receivables as collateral, so it may decline or require a payoff. Before applying for a loan, find out who holds a lien on your invoices.

Freight factoring for trucking companies: rates and recourse →

1. A freight factoring company

The better answer for most trucking cash gaps.

Best for: Owner-operators and fleets waiting 30 days or more on brokers
Advance: 80–95% of each delivered load, usually within 24–48 hours
Cost: About 1–4% of each invoice
Approval: Based on your brokers’ credit, not yours

With freight factoring, you deliver the load, send the invoice, signed bill of lading and rate confirmation, and receive most of the invoice within a day or two. The factoring company collects from the broker and releases the rest, minus its fee, when the broker pays. On a $2,500 load at a 2.5% fee and a 90% advance, $2,250 arrives the next day and $187.50 follows later.

For a cash gap caused by slow-paying brokers, this beats working capital. The cost tracks your loads, there is no fixed payment when freight slows, and a new authority with a thin credit file can qualify because the broker is the one being underwritten. Ask whether the factor runs broker credit checks before you accept a load and how you submit paperwork.

What to check: recourse versus non-recourse (non-recourse covers a broker’s insolvency, not a dispute over damage or late delivery), flat versus tiered pricing, minimum volume, and the notice period and early-termination fee in the agreement.

When trucking working capital makes sense instead →

2. Bay Street Lending

This is us. Best for established fleets that want factoring, trucks and one-time capital in one place.

Best for: Fleets 6+ months old invoicing $25K+ a month
Product fit: Freight factoring for broker-pay gaps; equipment financing for trucks; working capital for a one-time cost
Amounts: Factoring $25K–$10M (80–95% advanced); equipment $25K–$5M; working capital $25K–$2.5M
Cost to you: No fee from us; the funder pays us if you fund

Bay Street Lending is a broker, not a lender, founded by an investment banker and a partner who has spent his career in commercial finance. For trucking, that mostly means placing freight factoring with transportation-focused factors among our 100+ funding partners, and financing tractors and trailers. You apply once (a soft credit pull, about two minutes), one named advisor works the file, and every option comes back priced side by side in writing before you sign.

If you ask us for working capital to cover broker payments, we will usually show you factoring first. Working capital fits a one-time cost with a clear payoff: an engine rebuild, an insurance renewal down payment, a lane you are adding with a signed contract. Our 2026 fundings for trucking and logistics companies ran from $35K to $70K, smaller than our other industries.

Where we fall short: a single owner-operator is usually better served by going straight to a freight factoring company with a mobile app and fuel programs. We do not serve carriers under six months old or requests under $25,000, and we have fewer public reviews than the bigger brokers and marketplaces (45 on Google, rated 5.0).

Semi truck financing through Bay Street Lending →

3. Clarify Capital

Better for small carriers that need same-day factoring or a small loan.

Best for: Carriers 6+ months old doing $10K+ a month
Amounts: $5K–$5M
Speed: Invoice factoring the same day, it says
Reviews: Trustpilot 4.9 (873)

Clarify Capital is a broker with a dedicated advisor. It lists invoice factoring, which it says funds the same day, and its floor is lower than ours: requests from $5,000 and $10,000 a month in revenue. For a small carrier below our $25,000 minimum, Clarify is the better choice.

Applying means agreeing to be contacted by its advisor, and it does not disclose what lenders pay it. Ask whether you are being offered factoring or a loan, and the total cost of each.

Clarify Capital products and requirements ↗

4. Lendio

Better for new carriers and small requests.

Best for: New carriers and requests under $25K
Amounts: Line of credit from $1K; equipment $5K–$5M; receivables financing
Credit: Invoice factoring typically has no score requirement, per Lendio
Reviews: Trustpilot 4.5 (21,906), BBB A+

Lendio's marketplace lists receivables financing and equipment financing, and its own credit guide says invoice factoring typically has no credit score requirement. For a carrier under six months old or a request under $25,000, Lendio is the better choice.

Its privacy policy lets it share your file with lenders, banks and brokers who may keep it, and recent Trustpilot reviews describe months of calls after applying. Decide in advance how many offers you want.

Lendio's credit requirements by product ↗

5. LendingTree

Better for startups that want to compare offers online.

Best for: Startups and owners who want to shop several offers
Minimums: No platform minimum for time, credit or revenue (Merchant Maverick)
Products: Invoice factoring, equipment, working capital, lines, SBA
Model: Paid a lead-generation fee by lenders

LendingTree lists invoice factoring, equipment financing and working capital, and Merchant Maverick reports no platform minimum for time in business, credit or revenue. That makes it a reasonable place for a brand-new authority to see options.

Its terms describe it as "a marketing lead generator" paid by providers, and reviewers cite persistent calls after applying. Fees and terms are visible only after you apply.

LendingTree business loans ↗

Our pick

For most carriers, the best financing is freight factoring, not a loan. Owner-operators and small fleets should go straight to a freight factoring company. Established fleets that want factoring placed with a transportation specialist, plus truck financing or capital for a one-time cost, are where Bay Street Lending fits.

Choose Clarify Capital, Lendio or LendingTree if the request is under $25,000 or the authority is under six months old.

What we'd do today

Add up your open freight bills and the average days your brokers take to pay. That number is your real gap.
Check for existing UCC filings on your receivables before applying for anything.
If the gap is broker payments, get two freight factoring quotes and compare advance, fee, recourse and contract term.
Use a loan only for a one-time cost with a clear payoff, and finance trucks and trailers with equipment financing, not working capital.

Questions

Is freight factoring better than a loan for a trucking company?

For a gap caused by slow broker payments, usually yes. Factoring advances most of each load within a day or two, costs about 1 to 4 percent of the invoice, and has no fixed payment when freight slows.

Can I get working capital if I already factor my invoices?

Sometimes, but it is harder. A factoring company generally files a UCC financing statement against the receivables it buys, so a new funder may decline or require a payoff. Ask your factor first.

Can a new MC authority get financing?

Freight factoring, yes, because it is based on the broker’s credit. Most working-capital funders want more history; Bay Street Lending requires at least six months in business.

Does Bay Street Lending do freight factoring?

We arrange it. Bay Street Lending is a broker and places factoring with funding partners, including transportation specialists. The funder pays us; you pay us no fee.

How should I finance a truck?

With equipment financing secured by the truck, not short-term working capital. Terms run years, not months, and the payment matches the asset.

See what Bay Street Lending can do for you

One application, one named advisor, and every option priced side by side. Your file goes only to funders that fit, we never sell your information to other lenders, and there is no obligation to accept.

Start your application

Sources

We checked every competitor fact on this page in October 2026. Terms change; confirm on the provider's site before you apply. Bay Street Lending is a broker, not a lender.