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Bank Statement Loans for Owner-Operator Truckers
Settlements, fuel cards and truck payments. Here is how a lender reads life on the road.
Owner-operators usually document income through settlement deposits in the business account, with a factor that reflects fuel, maintenance and equipment costs. Detailed records and a stable lease or contract history help.
Why statements fit owner-operator truckers
A truck is a business with a high cost of operation. Revenue arrives through settlements, and fuel, insurance, tolls and repairs go out through the same accounts. The return and the real cash flow look different.
How a lender reads your deposits
Deposits from carriers or brokers are usually easy to tie to the work. The reviewer looks at how consistent settlements are, whether you lease onto one carrier or run your own authority, and how costly the truck is to run. A lower factor is harder to justify when costs are heavy.
What to watch for
- Seasonal freight lulls.
- Truck purchase or lease payments run through the account.
- A change of carrier in the last year.
- Fuel advances deposited and spent in the same week.
Documents to gather
- Statements for the account that receives settlements
- Settlement statements or carrier statements
- Operating authority or lease agreement
- A letter from a tax professional where the program needs one
- Proof of years in trucking
General information only. Each program sets its own rules, and a lender must verify your income and ability to repay.
Related
- What you need to prove
- How expense factors work
- Small business owners
- 1099 contractors
- Gig workers
- Doctors and dentists
Owner-operator truckers by city
- Owner-operator truckers in Greensboro, NC
- Owner-operator truckers in Dallas-Fort Worth, TX
- Owner-operator truckers in Houston, TX
- Owner-operator truckers in Fort Worth, TX
- Owner-operator truckers in El Paso, TX
- Owner-operator truckers in Jacksonville, FL
A loan officer who works with owner-operator truckers
Apply online or call, and we will tell you what to pull together first.
Frequently asked questions
Does leasing onto a carrier count as self-employment?
Often yes, if you own the truck and are paid as a contractor. The program defines the details.
Do truck payments count against me?
The truck loan is a debt a lender reviews. It is counted along with other monthly debts.