Can a New Business Get Commercial Truck Financing?
Reviewed by George Burgess · Updated August 19, 2026
Yes. A new business can be considered for commercial truck financing through Hard Money Truck Loans when the transaction fits the program. A new business is generally reviewed under the startup structure, which is typically 40% down with 2 years of industry experience. The truck must come from a licensed dealer, the purchase price must be $21,000 to $145,000, and there is no minimum credit score.
Quick Financing Snapshot
- Minimum credit score
- None
- Credit specialty
- Credit challenged buyers welcome, with no minimum credit score
- Purchase price financed
- $21,000 to $145,000
- Down payment
- Typically 30% of the purchase price
- Startup down payment
- Typically 40% of the purchase price
- Seller
- Licensed dealer purchases only
- Credit history
- No bankruptcy or repossession within the last 5 years.
- Approvals
- Same day approvals may be available
Want to know whether your own situation is financeable? Get pre-approved or call (407) 250-8536.
A New Company Is Not an Automatic Decline
Company age by itself is not published anywhere on this site as a disqualifier.
A newly formed business is reviewed under the startup structure.
The question is whether the transaction fits the program.
Which Terms Change for a New Business
Two things distinguish the startup structure.
- typically 40% down instead of typically 30%
- 2 years of industry experience
Everything else about the purchase is the same program.
Banking History on a Young Company
Approximately 4 months of business bank statements is a typical program characteristic.
A company that opened its account recently may have less history than that.
This site does not publish a bank balance formula, a deposit requirement or an overdraft limit.
It also does not publish a substitute document that automatically replaces business statements, so ask HMTL how the actual file should be presented.
Business Credit on a New Entity
A new entity usually has little or no business credit yet.
This site does not publish a business credit score requirement.
There is no minimum credit score at all.
HMTL specializes in credit challenged commercial truck and trailer buyers, including many borrowers with scores around 500.
The Purchase Itself Still Drives the Review
The seller must be a licensed dealer.
The purchase price must be $21,000 to $145,000.
The lender reviews the year, make and model, mileage, truck type and specifications.
No truck age limit, mileage limit or valuation formula is published on this site.
What a New Business Should Have Settled First
Before the review starts, know the answers to the basics.
- which licensed dealer holds the truck
- the written purchase price
- the down payment you can actually place
- the year, make, model and mileage
A complete picture moves faster than a partial one.
Timing for a New Business File
Same day approvals may be available.
Funding can occur in as little as 3 days.
Those are program characteristics rather than commitments on any single file.
The hard historical rule remains no bankruptcy or repossession within the last 5 years.
What May Help You Qualify
- No minimum credit score
- Typically 30% of the purchase price down for an established business
- Typically 40% of the purchase price down for a startup, plus 2 years of industry experience
- Licensed dealer purchases only
- Purchase prices from $21,000 to $145,000
- No bankruptcy or repossession within the last 5 years
- Approximately 4 months of business bank statements
Potential Problems & Reasons For Decline
- A truck being bought from a private seller rather than a licensed dealer
- A purchase price outside the $21,000 to $145,000 range
- A down payment that does not reach the typical percentage for the truck selected
- A bankruptcy or repossession inside the last 5 years
- A startup without 2 years of industry experience
- Business bank statements that are incomplete or unavailable
Frequently Asked Questions
Is a newly formed company automatically declined for truck financing?
How long does a business have to exist before HMTL will look at it?
Does a new business need business credit to be considered?
What if the company account is only a few weeks old?
Does a new business need a minimum bank balance?
Does a new business get a different purchase price range?
Can a new business buy the truck from a private seller?
Does forming an LLC change the startup terms?
Related Resources
- Startup & Owner OperatorStartup Commercial Truck FinancingThe confirmed HMTL startup structure for a commercial truck purchase, stated without invented requirements.
- Startup & Owner OperatorHow Much Experience Do You Need for Startup Truck Financing?The published experience requirement for a startup truck file, and the questions this site deliberately leaves open.
- Startup & Owner OperatorHow Much Down Payment Does a Startup Need for a Commercial Truck?The typical startup down payment structure, with worked arithmetic and the limits of what the number means.
- Startup & Owner OperatorCan You Finance a Truck Before Your Business Has Established Credit?What happens when the company has no credit history yet and a truck still needs to be purchased.
- Bad Credit FinancingDoes Business Credit Matter When Financing a Commercial Truck?No business credit score threshold is published for this program. Business credit is not published as a substitute for anything.
- Startup & Owner OperatorWhat Documents Does a Startup Need for Commercial Truck Financing?The paperwork a startup should expect to discuss, without inventing a checklist this site never published.
Ready To Get Your Truck Funded?
Tell us about the truck, your business and your situation. We will review whether the transaction fits the HMTL program.