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Guide To Commercial Truck Financing

Union Commercial Capital


When your business depends on trucks for local or long-distance deliveries, the ability to maintain or expand your fleet is vital to growing operations. Commercial truck financing can help you purchase vehicles as well as repair and upgrade them, allowing you to scale without putting a strain on your working capital. We here at Union Commercial Capital can help you by getting you pre-approved with just a soft inquiry. This way, you can see your rates without any damage done to your credit or commitment, and also compare options with other lenders. This guide breaks down the commercial vehicle financing process.


Find The Right Vehicle

Finding the right vehicle is not only critical for your needs, but it is critical to the lender as well. Lenders are looking to mitigate the risk involved with the potential vehicle financing. When shopping for a truck, try to get an estimated value so you know you're getting a price that the lender will finance.

Generally, the list of things commercial truck lenders consider when you apply for financing include:

  • The age, type and condition of the truck (including make, model, year, mileage and any repairs made to the truck if it was previously used)

  • The truck’s value

  • How the truck will be used in the business

  • Where you’re buying or leasing the truck from


Submit Application and Gather Documents

Once you've selected the commercial vehicle you wish to purchase, the next step you need to take is to complete your application and submit documentation. The documents required will differ by each lender. However, having all of these documents ready to send, will expedite the borrowing process:

  • Current and past bank statements

  • Business tax returns

  • Current year profit and loss statement for your business

  • Current business balance sheet

  • Any business licenses or required certifications

  • Your CDL, if you have one

  • United States Department of Transportation (USDOT) number


Get Approved

When you complete the application and submit required documents, our team instantly gets to work on processing your file and putting together the best deal possible for your business. Once approved and terms are discussed, documents will be generated and emailed to you for review and signature. After the signed contract is returned, we'll process your documents ASAP. Most transactions fund within 1-3 days.


In Conclusion

The trucking industry in the United States is a huge business, with an incredible 80% of all cargo in the US transported by trucks. In order to compete with larger companies, small trucking business owners and operators often need reliable access to credit to help them buy trucks and equipment, handle start-up costs, and miscellaneous cash flow gaps.

Whether you are a company truck driver or an independent owner-operator, you know how important it is to have a reliable semi truck that runs smoothly, and in all weather conditions. Having a tip-top rig can get you on the road to success. Union Commercial Capital can help, so apply online today.


  • All Credit Considered

  • Deferred Payments (OAC)

  • Fast Approval Decisions & Funding Process

  • Flexible Terms

  • Fixed Monthly Payments

  • Competitive Rates

  • Potential Section 179 Tax Deduction

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