Industry data
Financing for specialized long-distance carriers: what the loan data shows
291 SBA 7(a) loans went to specialized long-distance carriers recently, at a median of $55,500. The lenders that make them, the terms they write, and what underwriters look at.
291 SBA 7(a) loans went to specialized long-distance carriers in the most recent fiscal years, at a median of $55,500 over 10 years. 29.9% went to new or under-two-year-old businesses, and the most active lender was The Huntington National Bank.
What a specialized long-distance 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 long-distance freight trucking | All 7(a) borrowers |
|---|---|---|
| Loans approved, fiscal years 2023 to 2026, using data released June 2026 | 291 | 214,102 |
| Median loan | $55,500 | $150,000 |
| 25th - 75th percentile | $25,000 - $181,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.75% | 10.25% |
| Share to new businesses | 29.9% | 33.6% |
| Charge-off rate, FY2010-19 | 11.8% | 7.1% |
What stands out
Reading these figures against all 7(a) borrowers:
- Loans here run smaller than average. The median of $55,500 is 63% 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 30% against 34% nationally.
- No single lender dominates, but the top three made 35% of these loans, so the shortlist below covers most of the active market.
- Rates run higher here. The median initial rate of 10.75% is 0.50 points above the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
- Lenders have been burned here before. 11.8% 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 long-distance carriers
Ranked by loans approved in this niche. The median, startup share and rate describe each lender's own loans to specialized long-distance 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 | 48 | $45,500 | 23% | 10.47% |
| TD Bank | 31 | $37,100 | 29% | 11.50% |
| Wells Fargo Bank | 23 | $15,000 | 100% | 13.50% |
| Lendistry SBLC, LLC | 18 | $150,000 | 0% | 12.00% |
| Manufacturers and Traders Trust Company | 15 | $30,000 | 40% | 11.50% |
| Zions Bank | 13 | $50,000 | 31% | 11.50% |
| JPMorgan Chase Bank | 12 | $95,000 | 0% | 12.70% |
| Bank of America | 10 | $73,950 | 0% | 9.74% |
| Columbia Bank | 9 | $50,000 | 0% | 11.75% |
| U.S. Bank | 6 | $45,000 | 100% | 7.87% |
Where these businesses borrow
Most active states for specialized long-distance carriers: Ohio (30), Illinois (22), Texas (19), California (18), Florida (18), Michigan (15).
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.