Here's What You Actually Need to Get Approved
If you're a towing business owner looking to buy or upgrade a truck, you’ve probably wondered what it really takes to qualify for financing. You're not alone—and you don’t need perfect credit or piles of paperwork to move forward.
At TruckLenders USA, we specialize in commercial-only lending and keep the process simple. This page breaks down the tow truck financing requirements so you can stop guessing, start planning, and move one step closer to approval.
Your credit score is one of the first things lenders evaluate—and with good reason. It helps us understand your financial responsibility and risk level. For most of our tow truck loans, here’s what we expect:
650+ credit score is preferred for fast-track approvals and better terms
600–649 may still qualify but will likely require a larger down payment, additional documentation, or higher interest rates
Below 600 generally won’t qualify unless you have a very strong business profile, large cash reserves, or co-signers
We do not run a hard credit pull when you apply, so checking your eligibility won’t impact your score.
Stability matters—especially in the commercial lending world. That's why time in business is a core piece of the approval process.
2+ years in business is the standard benchmark for fast approvals
Startups (under 2 years) may be considered on a case-by-case basis if your monthly revenue is strong, you have prior industry experience, or offer a sizable down payment
We finance businesses operating as LLC, Corporation, or Sole Proprietorship
Not sure if you qualify? If you're borderline, reach out—our team will give you a straight answer.
Tow truck loans are approved based on your ability to repay—not just your credit. That’s why lenders look closely at your monthly revenue.
$15,000+ per month is the typical revenue threshold
Higher revenue often means lower rates, longer terms, and higher loan amounts
If you’re slightly below this, but have a strong customer base or large contracts, we’ll still review your file
You don’t need full financials or tax returns. We accept recent bank statements to verify income.
To qualify for a tow truck loan, your business needs to be legally formed and operational. We work with most entity types:
LLCs
Corporations
Sole Proprietors
You’ll also need:
A valid EIN (Employer Identification Number)
A business checking account
Proper business registration in your home state
If you're using your personal name and don’t have an EIN yet, we can guide you through the setup—it only takes a few minutes to get compliant.
Unlike banks, we don’t ask for stacks of tax returns or profit-and-loss statements. We’ve streamlined our approval process to focus only on the essentials. Here's what we do need:
Tow truck invoice or listing (PDF, screenshot, or link from seller)
Basic business information (legal name, EIN, entity type, years in business)
Driver’s license of the primary applicant or owner
No tax returns
No profit and loss statements
No hard credit pull at prequalification
If you're financing a truck from a private seller, we’ll help structure the transaction to ensure everything is legal and secure.
When you apply with us, you're not dealing with a big bank, a general-purpose lender, or a dealership trying to push a specific truck. You’re working with a team that’s spent 30+ years financing nothing but commercial equipment—and that includes thousands of tow trucks.
What makes us different?
No-Fluff Underwriting – We look at real business performance, not red tape
Same-Day Approvals – Most qualified buyers get answers within 24 hours
Soft Credit Pulls Only – Prequalify without impacting your score
Dedicated Tow Lending Experts – Get help from someone who speaks your language
We don’t believe in wasting time. If you meet the tow truck financing requirements, we’ll help you close the deal fast—and if you don’t, we’ll tell you straight.
If you're a serious buyer ready to finance a truck and meet the criteria listed above, we can help you get it done—quickly, professionally, and without jumping through hoops.
Here’s what you’ll need to get started:
650+ credit
2+ years in business
$15K/month in revenue
A tow truck invoice or listing
→ Think you meet the requirements? Prequalify now – no hard credit pull
Want to explore your full financing options? Visit our main tow truck financing hub page for loan types, terms, and truck classes we support.
