Live Oak Bank’s asset-based lending financing approach was designed for small to mid-sized trucking companies. We understand the unique challenges and opportunities in the freight industry – volatile fuel prices and freight rates, customer collection cycles and increasing insurance costs. Our team recognizes that each trucking company has specific cash availability needs so that poor timing of invoice payment doesn’t impact your business.
We offer lines of credit for trucking companies when this is a better fit. A line of credit enables your trucking business to have flexible access to money when needed rather than selling your accounts receivable in a factoring arrangement.
Our flexible approach to factoring, whether recourse or non-recourse, enables your trucking company to achieve better priced financing than typically offered by traditional factors. By selling your current invoices through factoring, you get the cash you need to cover your expenses and ultimately grow and expand.
Need a little guidance and advice? Contact a loan specialist, they're ready to help.Connect with an Asset-Based Lending Specialist