Industry data
Financing for specialized local freight carriers: what the loan data shows
628 SBA 7(a) loans went to specialized local freight carriers recently, at a median of $90,000. The lenders that make them, the terms they write, and what underwriters look at.
628 SBA 7(a) loans went to specialized local freight carriers in the most recent fiscal years, at a median of $90,000 over 10 years. 41.1% went to new or under-two-year-old businesses, and the most active lender was The Huntington National Bank.
What a specialized local freight carrier loan actually looks like
These are approvals, not advertised ranges. Computed from SBA 7(a) loan-level FOIA data released 2026-06-30.
| Measure | Specialized local freight trucking | All 7(a) borrowers |
|---|---|---|
| Loans approved, fiscal years 2023 to 2026, using data released June 2026 | 628 | 214,102 |
| Median loan | $90,000 | $150,000 |
| 25th - 75th percentile | $34,125 - $200,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.25% | 10.25% |
| Share to new businesses | 41.1% | 33.6% |
| Charge-off rate, FY2010-19 | 9.6% | 7.1% |
What stands out
Reading these figures against all 7(a) borrowers:
- Loans here run smaller than average. The median of $90,000 is 40% below the $150,000 national median. Smaller loans price higher under the SBA spread caps, so budget for a rate above the headline range.
- Startup share is about average, at 41% against 34% nationally.
- No single lender dominates, but the top three made 34% of these loans, so the shortlist below covers most of the active market.
- Lenders have been burned here before. 9.6% of loans to this market from the FY2010-2019 cohorts were charged off, against 7.1% overall. That history is why underwriting in this sector is tighter than the numbers alone would suggest — it is not personal.
Which lenders actually fund specialized local freight carriers
Ranked by loans approved in this niche. The median, startup share and rate describe each lender's own loans to specialized local freight carriers, not its national averages — which is how you spot a genuine specialist.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| The Huntington National Bank | 132 | $88,200 | 37% | 10.00% |
| TD Bank | 43 | $40,000 | 28% | 11.00% |
| Wells Fargo Bank | 38 | $15,000 | 87% | 13.00% |
| Manufacturers and Traders Trust Company | 32 | $35,500 | 31% | 11.37% |
| Columbia Bank | 23 | $50,000 | 13% | 12.50% |
| Lendistry SBLC, LLC | 23 | $150,000 | 0% | 12.00% |
| Zions Bank | 21 | $75,000 | 67% | 9.25% |
| Granite Bank | 18 | $112,500 | 67% | 10.00% |
| JPMorgan Chase Bank | 17 | $80,000 | 12% | 12.90% |
| Northeast Bank | 16 | $99,000 | 6% | 10.62% |
Where these businesses borrow
Most active states for specialized local freight carriers: Ohio (114), California (44), Texas (34), Minnesota (30), Pennsylvania (29), Florida (29).
Which financing fits
| Product | Fit for this sector | Typical cost |
|---|---|---|
| SBA 7(a) | The dominant vehicle in this niche | 10.0% - 14.0% APR |
| Equipment financing | For the hard assets, often cheaper separately | 7.0% - 30.0% APR |
| Line of credit | For seasonality and payroll timing | 9.0% - 60.0% APR |
| SBA microloan | If you need under $50,000 | 8.0% - 13.0% APR |
| Business acquisition loan | If you are buying an existing operation | 10.0% - 14.0% APR |
Before you apply
- Check coverage first. Run the payment through the affordability calculator at 1.25x.
- Shortlist from the lender table, favouring ones whose median loan here is close to what you need.
- Assemble the documents — see the checklist.
- If you are buying rather than starting, read business acquisition loans first; the injection rules and diligence are different.