Capital for carriers and owner-operators.
Truck and trailer financing, same-day freight factoring, and working capital for fuel, repairs, and growth — placed through lenders built for the freight cycle.
Overview
Trucking & Logistics capital, structured for how operators actually work.
Freight rates move daily, customers pay on 30–90 day terms, and equipment is the business. Summit places equipment financing across new and used Class 8 trucks, trailers, and reefers — and freight factoring lines that advance against your load broker and shipper invoices within hours of delivery.
Industry Challenges
What we underwrite that banks won't.
30–90 day payment terms strangle owner-operators and small fleets. Freight factoring closes the gap to same-day.
Used trucks lose value fast but still need financing. Specialty lenders underwrite high-mileage units other banks reject.
New authorities are bankable through dedicated startup programs requiring CDL history and modest down payment.
Recommended Capital
Best-fit funding for trucking & logistics.
New and used tractor, trailer, and reefer financing. Startup programs for new authorities; 0–20% down typical.
Advance 90–95% against load invoices same-day. Recourse and non-recourse options; fuel card programs available.
Standby capital for fuel surges, unexpected repairs, and growth between settlements.
Frequently Asked
Questions from trucking & logistics operators.
Can I finance a used truck with high mileage?+
Yes. Specialty equipment lenders finance Class 8 trucks up to 750K+ miles, though rate and term scale with age and mileage. Typical APR range 9–24%.
How fast is freight factoring?+
Once a factor is onboarded (3–5 days), advances are typically same-day or next-day after delivery confirmation and signed BOL.
Can a new authority get equipment financing?+
Yes. Dedicated startup programs require CDL history, a 10–20% down payment, and strong personal credit. Build-time programs also exist for sub-12-month authorities.
Next Step