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Dump Truck Financing: Best Dump Truck Loan Options

By Randa Kriss
Last updated on July 2, 2024
Edited bySally Lauckner
Fact checked and reviewed
The right dump truck financing option will vary based on the truck you want to purchase and your business's qualifications.

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Dump truck financing is available from a range of sources, including banks, online lenders and companies that specialize in commercial trucking. You can use one of these small-business loans to buy a new or used dump truck — in a variety of makes and models.
In general, the best dump truck loan will be the least expensive one you can qualify for that meets your business needs.

How much do you need?

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We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

Here are 7 dump truck financing options

LenderNerdWallet RatingMax loan amountMin. credit scoreNext steps

Bank of America - Equipment loan

4.5/5

Best for Low-interest dump truck financing

Undisclosed700
Read Review

National Funding - Equipment Financing

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4.5/5

Best for Startup dump truck financing

$150,000600

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Triton Capital - Equipment financing

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4.0/5

Best for Dump truck financing for bad credit

$250,000575

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JR Capital Equipment Financing

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4.0/5

Best for Zero down dump truck financing

$10,000,000620

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CAG Truck Capital Commercial Truck Financing

Best for Used dump truck financing

UndisclosedUndisclosed

Balboa Capital - Equipment Financing

Best for Fast dump truck financing

$500,000620
Read Review

Commercial Fleet Financing Equipment Financing

Best for Customizable dump truck financing

$1,000,000640

Here are 7 dump truck financing options

Best for Low-interest dump truck financing

Bank of America

Max Amount

Undisclosed

Min. Credit Score

700

Best for Startup dump truck financing

National Funding

Max Amount

$150,000

Min. Credit Score

600

Best for Dump truck financing for bad credit

Triton Capital

Max Amount

$250,000

Min. Credit Score

575

Best for Zero down dump truck financing

JR Capital

Max Amount

$10,000,000

Min. Credit Score

620

Best for Used dump truck financing

CAG Truck Capital

Max Amount

Undisclosed

Min. Credit Score

Undisclosed

Best for Fast dump truck financing

Balboa Capital

Max Amount

$500,000

Min. Credit Score

620

Best for Customizable dump truck financing

Commercial Fleet Financing

Max Amount

$1,000,000

Min. Credit Score

640

I'M INTERESTED IN:

Our pick for

Low-interest dump truck financing

Established businesses with good credit can access competitive interest rates on Bank of America’s dump truck loans.

Bank of America - Equipment loan

Max Loan Amount
Undisclosed
Min. credit score
700
Bank of America offers equipment loans starting at $25,000 with no set limit and loan terms of up to 5 years when secured by business assets.

Max loan

Undisclosed

Min. Credit score

700

Bank of America offers equipment loans starting at $25,000 with no set limit and loan terms of up to 5 years when secured by business assets.

Our pick for

Startup dump truck financing

National Funding can offer dump truck financing to startups with a minimum of six months in business.

National Funding - Equipment Financing

Read Review

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Max Loan Amount
$150,000
Min. credit score
600
Borrowers who can't qualify for more traditional loan options might consider National Funding for fast access to capital.

Max loan

$150,000

Min. Credit score

600

Borrowers who can't qualify for more traditional loan options might consider National Funding for fast access to capital.
Read Review

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Our pick for

Dump truck financing for bad credit

You may be able to qualify for a dump truck loan from Triton Capital with a personal credit score of 575 or higher.

Triton Capital - Equipment financing

4.0
NerdWallet rating 

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Max Loan Amount
$250,000
Min. credit score
575
Est. APR
5.99-34.99%
Triton Capital offers fast equipment loans up to $250,000 for businesses in a range of industries.
4.0
NerdWallet rating 

Max loan

$250,000

Min. Credit score

575

Apr range

5.99-34.99%

Triton Capital offers fast equipment loans up to $250,000 for businesses in a range of industries.

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Our pick for

Zero down dump truck financing

JR Capital can help you finance the purchase of a new or used dump truck with no down payment required.

JR Capital Equipment Financing

4.0
NerdWallet rating 

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Max Loan Amount
$10,000,000
Min. credit score
620
Est. APR
6.99-18.00%
JR Capital provides fast equipment loans and leases, specializing in trucks, trailers and heavy equipment.
4.0
NerdWallet rating 

Max loan

$10,000,000

Min. Credit score

620

Apr range

6.99-18.00%

JR Capital provides fast equipment loans and leases, specializing in trucks, trailers and heavy equipment.

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Our pick for

Used dump truck financing

CAG Truck Capital specializes in commercial truck loans and can finance a variety of dump truck options. This lender also offers a unique program dedicated to financing used, high-mileage vehicles.

CAG Truck Capital Commercial Truck Financing

Max Loan Amount
Undisclosed
Min. credit score
Undisclosed
Est. APR
10.00%
CAG Truck Capital can offer commercial truck financing for borrowers who may not qualify for more traditional options.

Max loan

Undisclosed

Min. Credit score

Undisclosed

Apr range

10.00%

CAG Truck Capital can offer commercial truck financing for borrowers who may not qualify for more traditional options.

Our pick for

Fast dump truck financing

Balboa Capital can approve dump truck loan applications in as little as one hour and issue funds within the same day.

Balboa Capital - Equipment Financing

Max Loan Amount
$500,000
Min. credit score
620
Borrowers with fair credit may consider Balboa Capital to get fast funding, especially for equipment loans.

Max loan

$500,000

Min. Credit score

620

Borrowers with fair credit may consider Balboa Capital to get fast funding, especially for equipment loans.

Our pick for

Customizable dump truck financing

CFF offers dump truck financing with customizable terms and repayment options. The company’s lending representatives provide expertise in the construction industry to help you find the best loan option for your individual needs.

Commercial Fleet Financing Equipment Financing

Max Loan Amount
$1,000,000
Min. credit score
640
Borrowers looking to benefit from industry expertise might choose Commercial Fleet Financing to fund a truck, trailer or construction equipment purchase.

Max loan

$1,000,000

Min. Credit score

640

Borrowers looking to benefit from industry expertise might choose Commercial Fleet Financing to fund a truck, trailer or construction equipment purchase.

How Much Do You Need?

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What is dump truck financing?

Dump truck financing refers to a loan that’s used to purchase a dump truck for your business. Like other types of equipment financing, dump truck loans use the vehicle you buy as collateral on the loan.

How does dump truck financing work?

Dump truck loans are typically structured as traditional term loans. You receive a lump sum of capital from a lender upfront and use it to buy your dump truck. Then, you repay the funds over time, with interest.
  • Repayment terms. Terms on dump truck financing usually range from 12 to 60 months, but may be longer depending on the specific truck you’re purchasing. You’ll often make payments on a fixed monthly cadence, although some lenders offer flexible payment options, such as quarterly, annually or seasonally.
  • Interest rates. Dump truck financing rates can range from 5% to 36% APR. The rate you receive, however, will vary based on your business’s qualifications, your down payment and the value of the dump truck you’re buying.

🤓 Nerdy Tip

To get the most competitive dump truck financing rates, it’s helpful to have good credit, strong finances and multiple years in business. If your credentials aren’t quite where you want them to be, you might consider offering a larger down payment (or offering one when it’s not required) or additional collateral (e.g. equipment, real estate, inventory) to qualify — which can also help you access better rates and terms. Learn more about how to get the best interest rate on your business loan.

Where to get dump truck financing

You can get dump truck financing from several different types of lenders, including:

Banks and credit unions

Banks and credit unions can offer some of the most competitive rates and terms on dump truck loans. To qualify, however, you’ll need to meet strict business loan requirements. Many traditional lenders will want you to have good credit and multiple years in business. Dump truck loans from banks will likely be slower to fund than those from online lenders or alternative financing companies.
In addition to their own products, banks and credit unions may also issue SBA loans, which can be used for dump truck financing. Like standard business bank loans, SBA loans offer competitive interest rates and long repayment terms — but are slow to fund. In some cases, however, SBA loans may be slightly easier to qualify for than other bank options.

Online lenders

Online lenders can be a good option for businesses that need financing quickly, as well as those that can’t qualify for bank or SBA loans. These lenders typically offer a streamlined application process with minimal documentation. Online lenders may be able to provide financing in as little as 24 hours.
Compared to traditional lenders, online lenders also have more flexible qualification requirements. These companies may be able to offer startup funding or equipment financing for bad credit. As a result of their speed and flexibility, however, online lenders charge higher interest rates.

Specialized commercial truck lenders

Certain lending companies, like CAG Truck Capital and Commercial Fleet Financing, specialize in commercial truck loans. These lenders provide industry knowledge and expertise to help guide you through the funding process.
Many of these companies are direct lenders, which means they can be more flexible with payment schedules, qualifications and application processes, because they lend their own money. Specialized trucking lenders can be a good option if you want customized financing and a personalized funding experience.

How to finance a dump truck

You can finance a dump truck for your small business by following these steps:
1. Determine your financing needs and potential down payment
You’ll want to think about what type of dump truck you want to buy and how much it’s going to cost. Keep in mind that you may also have to pay soft costs, such as delivery, warranties or installation, when making your purchase.
You should also consider how much of a down payment you may be able to provide on your loan. Some lenders require a down payment of at least 10% of the loan amount. In general, a larger down payment can help you access better rates and terms.
Use our equipment loan calculator to estimate your payments and overall cost.
2. Evaluate your business’s qualifications
Although specific requirements will vary, most lenders will consider:
  • Credit score. Many dump truck lenders will want to see a credit score in the mid 600s or higher. Some lenders are more flexible, but these options may come with higher interest rates.
  • Annual revenue. Dump truck financing companies may not have a specific annual revenue requirement or may not disclose one upfront. Nevertheless, most lenders will look at your revenue and cash flow as part of their underwriting process. A strong financial history can help you qualify for the most competitive trucking business loan options.
  • Time in business. Because dump truck purchases can be expensive, lenders often prefer you to have at least a few years in business. If, however, you have good credit or can provide a large down payment, some lenders may work with younger companies.
3. Get an equipment quote for your dump truck
Most lenders will ask you to provide an equipment quote as part of your financing application. You should browse vendors and suppliers to find the type of dump truck you want to purchase and see which company can offer the best price.
4. Compare dump truck financing companies
You should research and compare multiple financing companies to find out which one can offer you the best deal (that you can qualify for). As you evaluate your options, you’ll want to consider factors such as available loan amounts, repayment terms, interest rates, additional fees, funding speed and application process.
5. Gather your documents and apply
In addition to an equipment quote, most lenders will want you to provide bank statements, financial statements and tax returns as part of your loan application. You’ll want to make sure to gather the most accurate, up-to-date information to help expedite the underwriting process.
Keep in mind that banks and credit unions may require you to visit a branch location to apply. These lenders will likely require more documentation (and be slower to fund) than online or direct dump truck lenders.

Frequently asked questions

Last updated on July 2, 2024

Methodology

NerdWallet’s review process evaluates and rates small-business loan products from traditional banks and online lenders. We collect over 30 data points on each lender using company websites and public documents. We may also go through a lender’s initial application flow and reach out to company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer small-business friendly features, including:
- Transparency of rates and terms.
- Flexible payment options.
- Fast funding times.
- Accessible customer service.
- Reporting of payments to business credit bureaus.
- Responsible lending practices.
We weigh these factors based on our assessment of which are the most important to small-business owners and how meaningfully they impact borrowers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodology for small-business loans and our editorial guidelines.

Wondering if you qualify?

It’s possible to get a business loan even if you have bad credit. Bad-credit business loans are available from alternative sources, like online or nonprofit lenders.

Learn more