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Trucking company financing in NYC: costs, tools and lenders
By Solomon Wiesen, editor. Updated October 2026. Editorial standards | How this site is funded
A carrier pays for fuel, tolls, insurance and repairs this week and gets paid for the load 30 to 90 days later. In New York City the gap costs more: a box truck pays $14.40 every time it enters Manhattan below 60th Street at peak hours, and a tractor-trailer pays $21.60. SBA lenders made 265 loans to New York City trucking, delivery and transportation businesses between October 2019 and June 2026, and half of them were for $50,000 or less. This page covers where that money comes from, what it costs, and the one financing mistake that can cut a carrier off from factoring.
SBA loans to NYC trucking and delivery firms, by borough
SBA 7(a) loans to five-borough trucking, delivery and transportation businesses from October 2019 to June 2026, with the median loan.
| Number | Figure | Source |
|---|---|---|
| SBA 7(a) loans to NYC trucking, delivery and transportation firms, Oct 2019 to Jun 2026 | 265 | SBA FOIA data, our analysis |
| Median loan | $50,000 | Same |
| Median starting rate, loans approved since Oct 2023 | 11.50% | Same |
| Loans of $50,000 or less | 134 (51%) | Same |
| Congestion toll per peak entry, E-ZPass | $14.40 small truck; $21.60 large truck | MTA |
| Freight factoring fee per invoice | 1.5% to 3% recourse; 2.5% to 5% non-recourse | FreightWaves |
| Annual inspection report retention | 14 months | 49 CFR 396.21 |
Free tools for fleet owners
Four free tools for the paperwork and costs that come before the financing question. Each runs in your browser and nothing you enter is sent anywhere.
DOT inspection form
A fillable annual inspection report on the 15 federal headings, plus a DVIR, ready to print.
Truck maintenance checklist
PM-A, PM-B and PM-C dates by miles or months, with printable checklists.
Congestion toll calculator
What Manhattan entries cost a box truck or tractor-trailer per day, month and year.
Freight class calculator
Density and class on the 2025 NMFC scale, and how close you are to a cheaper class.
How NYC trucking companies borrow from the SBA
We counted every SBA 7(a) loan approved for a New York City business in industry codes 48 and 49 (trucking, couriers, delivery, warehousing and other transportation) from the SBA’s public loan file, after removing cancelled loans. That gives 265 loans from 37 lenders. Brooklyn and Queens account for almost three of every four.
| Borough | Loans | Median loan |
|---|---|---|
| Brooklyn | 98 | $75,000 |
| Queens | 95 | $50,000 |
| Staten Island | 28 | $38,000 |
| Bronx | 23 | $40,000 |
| Manhattan | 21 | $30,000 |
Most of these are small working capital lines. TD Bank made 143 of the 265, with a median of $25,000, which is the size of its SBA Express lines. Chase is the main source of larger loans. Lendistry, an online SBA lender, made all 12 of its NYC transportation loans since October 2023.
| Lender | Loans since Oct 2019 | Since Oct 2023 | Median loan | Median starting rate |
|---|---|---|---|---|
| TD Bank | 143 | 82 | $25,000 | 11.50% |
| JPMorgan Chase | 36 | 16 | $112,000 | 13.02% |
| Lendistry | 12 | 12 | $126,000 | 12.38% |
| M&T Bank | 10 | 2 | $78,000 | too few to report |
| Brooklyn Cooperative Federal Credit Union | 5 | 1 | $10,000 | too few to report |
By size: 134 loans were $50,000 or less, 71 were $50,001 to $150,000, 34 were $150,001 to $350,000, 15 were $350,001 to $1 million and 11 were larger. Rates are the starting rate on loans approved since October 2023; with prime at 7.00%, TD’s 11.50% median is prime plus 4.5 points. To see the lenders for your borough and loan size, open the SBA lender finder set to trucking. TD’s program and its current line offer are on our TD Bank SBA page, and Chase’s on the Chase SBA page.
Factoring, MCA, SBA or equipment loan
Each of these solves a different problem. Factoring turns an invoice you already earned into cash. A loan or a line pays for something the invoices don’t cover, such as a down payment, a repair or a slow season. An equipment loan pays for the truck and is secured by it.
| Option | What it costs | How fast | What secures it | The catch |
|---|---|---|---|---|
| Freight factoring | 1.5% to 3% of each invoice (recourse), 2.5% to 5% (non-recourse), plus transfer and processing fees | Usually within a day of submitting paperwork | Your invoices; the factor files a lien on your receivables | Non-recourse usually covers a broker going under, not a broker refusing to pay over a dispute |
| SBA 7(a) or Express loan or line | Median starting rate of 11.50% on NYC transportation loans since Oct 2023 | Weeks | Business assets, and a personal guaranty from owners of 20% or more | Paperwork and time; newer authorities find it harder |
| Equipment loan or lease | Depends on credit, the truck’s age and the down payment | Days to weeks | The truck or trailer | Older trucks and new authorities pay more or put more down |
| Nonprofit lender loan | From about 4% to 16% at the NYC lenders listed below | Weeks | Varies; some take no collateral on small loans | Smaller amounts and more paperwork |
| Merchant cash advance | A 1.40 factor rate is about 71% APR over twelve months and 142% over six | A day or two | A share of your future receipts, a lien on receivables and a personal guaranty | Daily or weekly debits against income that arrives every few weeks, and a lien that can conflict with factoring |
How an MCA lien can block your factoring
A merchant cash advance is structured as a purchase of your future receipts, and the funder usually files a UCC-1 financing statement covering your receivables. A factoring company buys those same receivables. Before it takes a new carrier, a factor searches the UCC filings, and a prior lien on receivables means it will ask the MCA funder to release or subordinate, or turn you down. Factoring agreements also commonly forbid you from granting anyone else a lien on your invoices, so an advance signed while you factor can put you in breach of the factoring contract.
Factoring companies argue that advances suit businesses with daily card sales, while carriers get paid weeks after delivery. They sell factoring, but the arithmetic backs them up. Take a carrier that factors $40,000 of invoices a week at 2.5%: about $1,000 a week in fees. Add a $50,000 advance at a 1.40 factor rate repaid over six months: $70,000 back, or about $2,780 a week in debits. The carrier now pays out close to $3,800 a week before fuel and payroll, and the advance alone carries an estimated APR above 140%.
Before signing anything, search your own name in the New York filings (our UCC lien guide shows how), call your factor and ask whether the deal is allowed, and ask the funder for the estimated APR that New York’s commercial finance disclosure law requires. If you already carry more than one advance, the stacking calculator shows the combined daily draw.
Lower-cost NYC lenders to call first
These lenders are slower than a funder and they will ask for documents, but they cost a fraction as much. Ask each one whether it finances vehicles and equipment before you apply.
- Accompany Capital: 8% loans with no published credit score floor, plus SBA loans.
- Pursuit: SmartLoan, SBA microloans and other programs for New York businesses.
- Renaissance Economic Development Corporation: a 4% to 6% program and 8% programs.
- Ascendus: 7.75% to 15.99%, with a referral required.
- NYC Future Fund: the city’s 7.5% revenue-based loan, through partner lenders.
- Bad credit options in NYC: lenders with published credit floors, if your score is the problem.
Before you sign
- Get the estimated APR in writing. New York requires it on most commercial offers of $2.5 million or less.
- Find every UCC filing against your company and read what each one covers.
- Ask your factor in writing whether the new financing is allowed under your agreement.
- Read the guaranty and the default clauses. Our confession of judgment guide covers what New York allows.
- Match the payment schedule to when brokers pay you. A daily debit against invoices paid every 30 days is the usual way carriers fall behind.
Questions
Can a trucking company get a merchant cash advance?
Yes, and many do, but it is usually the most expensive option and it can conflict with factoring. If you factor, get your factor’s written approval first, because factoring agreements commonly bar other liens on your invoices.
Is factoring cheaper than an MCA?
Usually, by a wide margin. A 2.5% fee on an invoice paid in 30 days is expensive as an annual rate, but it is tied to money you already earned and it ends when the broker pays. An advance at a 1.40 factor rate over six months costs about 142% APR and is debited whether or not loads come in.
What SBA loan do small NYC trucking companies get?
Mostly small working capital lines. Half of the 265 SBA loans to NYC transportation businesses since October 2019 were $50,000 or less, and TD Bank made more than half of all of them.
Comparing financing offers for your trucks? Send one short request and a funding partner will tell you what you may qualify for. We may be paid when you submit a request; see how this site is funded.
SBA figures are from the SBA 7(a) FOIA file as of June 30, 2026, covering loans approved from October 2019, with cancelled loans removed. Industry is the borrower’s NAICS sector 48 or 49. This page is general information, not financial or legal advice.