How to Qualify for Equipment Financing as an Owner-Operator in 2025

Aug 12, 2025

If you're an owner-operator trying to expand your business, getting financing can feel like a dead end—especially if you're newer to the industry.

But in 2025, lenders like NEF are working with owner-ops more than ever.

Here’s what it takes to get approved this year (even if your credit isn't perfect).

What Most Lenders Look For in 2025

• ✅ Credit score (but alternative scoring is rising)
• ✅ Time in business (ideally 2+ years, but not always required)
• ✅ Down payment (10%–20% standard)
• ✅ Equipment type + age
• ✅ Proof of consistent income

What Improves Your Chances

• A well-written business plan (even 1 page)
• A co-signer or partner with credit
• Prior experience as a company driver
• Having three months of bank statements
• Working with a specialized lender who understands trucking

Common Myths (That Hurt Applications)

• ❌ “If I’m new, I won’t get approved”
• ❌ “Used equipment can’t be financed”
• ❌ “All lenders require perfect credit”

 Truth: NEF works with startups, newer MCs, and drivers who’ve gone independent in the past year.

What NEF Does Differently

• 40+ lenders = more flexibility
• Applications reviewed by real people, not algorithms
• Fast pre-approval (usually within 48 hours)
• Trailer and truck financing for all credit profiles

If you’re an owner-op trying to grow, let’s make financing one less thing to worry about.

 Talk to a finance expert today and get a tailored quote in 24 hours.

(954) 678-4124