Truck Repair Financing

Truck repair financing is a good option for any business that uses trucks. Both independent operators and fleet owners can benefit from commercial truck repair loans. When your commercial truck is in need of repair, these specialized loans are meant to help you pay for the damages. They are also often available to borrowers with low credit scores.

Below you’ll find a list of truck and semi-truck repair loan lenders for you to compare and consider.

Once you’ve selected the right lender, just click “Apply Now” next to lender’s name and you’ll be directed to the online loan application form.

Need help with choosing the right lender? Pre-apply with Smarter Loans and we will assist you in finding the best truck repair financing option for your specific requirements.

We can help connect you with the top commercial financing companies in Canada.

Pre-Apply For A Business Loan for Truck Repair

Top Truck Repair Financing Providers in Canada

Company
Amount
Interest Rate
Reviews
Terms
$5000 - $500,000
Starting at 12.99%
6 - 18 Months
$5,000 - $250,000
Varies
N/A
$3,000 - $500,000
Starting at 7.99%
3 - 12 months
$4,000 - $300,000
Starting at 9%
6 - 60 Months
$5,000 - $100,000
Starting at 29%
4 - 6 months
$5,000 - $100,000
Starting at 6.87%
3 - 18 Months
$5,000 - $300,000
Starting at 8%
3 - 24 Months
$5,000 - $300,000
Starting at 8.39%
6 - 12 Months

What do you need to get a truck repair loan?


Getting a truck repair loan is just as simple as getting a simple business loan. They just have a few other requirements, like truck licenses.

Truck/semi-truck repair lenders will want to pull your credit score to help them determine the rates to offer you. They will often want to see a short history of your business banking. The typical checklist for a truck repair lender will include:

  • Bank statements or tax returns
  • A commercial driver’s license
  • Proof of insurance
  • A phone number

Apart from these simple requirements, getting a truck repair loan is simple. Just make sure you’re getting the right financing option for you. There are specific commercial truck repair loans, big truck repair loans, and semi truck repair loans available.

Does it make sense to take out a loan for a vehicle repair?


Yes. Truck repair financing options were made available specifically for the expensive maintenance of trucks and semi-trucks. While you can also just take out a simple business loan, you may have more luck dealing with a lender that specializes in truck maintenance financing.

As always, be sure to shop around and compare rates.

Truck repair lenders are often more lenient with their loan applicants. They may offer you a loan even if you have a low credit score. Better access and specialized service make truck repair lenders a strong option for truck repair financing.

 

Useful resources and tools for Canadian truck owners:


Types of Truck Repair Financing offered:

  • Business Term Loans
  • Business Lines of Credit
  • Financing for Commercial Truck Repair
  • Secured Loans
  • Invoice Factoring
  • Collateral Loans

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