FAQs

At Holt Truck Finance, we offer a range of financing service types focused on the unique needs of truck drivers, owner-operators, and businesses in trucking and transport. Check out the complete list on our Finance Services page.

To qualify for a finance loan through Holt Truck Finance, you’ll need basic criteria like credit score, business revenue, and operational history as the main qualifiers. However, some banks may want more information to make a better decision based on your situation. Use our online application form to get started today.
Note: link to Application page.

A completed application form is all you need to get started with your financing request with Holt Truck Finance. But a few items commonly needed in order to close include:

• A copy of your CDL or DL/State ID (One of our reps will collect this when the time comes)
• Bank Statements and/or other financial statements may be required, upon request, depending on the type of loan.

Typically, you can borrow anywhere from 70%-100% of the total purchase price. But the minimum loan amount is $10,000 and the maximum loan amount is $250,000 – $500,000.

Current interest rates range from 6.9% to 29.9% depending on a multitude of factors such as loan type, credit score, collateral, time in business, and the year, make, and model of the truck or equipment you are looking to finance.

No, there are additional fees or charges to apply for truck financing through Holt, but this may change depending on the loan type. Closing fees are typically wrapped into the loan.

At Hot Truck Finance, we usually have full approval on your loan request within an hour, thanks to our simple, hassle-free approach and expertise of our team. However, depending on the complexity of the loan, it can take anywhere from 1 hour to a couple of days to close.

Repayment terms will differ from bank to bank but will typically fall between 12-month and 60-month terms. The Holt Truck Finance team will work with you to help create a plan that best meets your needs.

Yes, you can refinance your loan.

Missed payments are never a good thing, but each bank handles missed payments differently – this information will be spelled out in the loan documents.

There will be very little change, if any, to your credit score when applying for financing. Most banks do not report commercial loans to your personal credit report, but, if the loan is reported, then your credit score will be affected due to the new loan, terms, and debt. *If you are worried about your credit scores, please discuss your situation with your Holt Truck Finance rep – we can help you better understand how your credit score is calculated and things you can do to increase your credit score in order to have a more “bankable” credit profile.

Yes, we do! We love helping new owner-operators and startup transport businesses on beginning their path to success. Learn more about Holt’s range of Finance Services.

Yes, all your information is kept safe, and we never sell your information to anyone, ever. Any emails you may get are coming directly from us here at Holt and are related to your business with us.

YES, we have finance options for every credit score, and our team of experts has years of experience helping clients navigate a wide range of needs and situations.
If you are worried about your credit score, please discuss your situation with your Holt Truck Finance rep – we can help you better understand how your credit score is calculated and things you can do to increase your credit score in order to have a more “bankable” credit profile.

At Holt Truck Finance, we specialize in meeting the unique needs of truck drivers, owner-operators, and businesses in trucking and transport – as well as related businesses and industries like farming and farm equipment, trucking businesses and fleet purchases, construction equipment and dump trucks, plus truck dealers and brokers. Check out the complete list on our Finance Services page.

Payments are typically automatically drafted from your bank account (ACH), but payments can also be sent via US mail (paper check, business printed check), or paid online (with a fee).

Your success is our priority. We take pride in our excellent customer service – and the fact that you can call us for anything and we are always here for you. 

We have a “no-nonsense” approach to lending and value our lender/borrower relationships throughout the trucking and transport industry. Our team members are dedicated to working on your behalf every day.

Absolutely! You can reach out to us through our online contact us form. Or call the Holt Truck Finance office directly by phone at 419-214-4502. (You can also find us on Facebook.)

Glad you asked. Our application is simple and hassle-free.

We’ve partnered with a very reputable truck insurance company that offers very competitive rates and top-notch customer service. Contact us for more information about the truck insurance companies we work with and how to submit your information. Check out other resources we’ve compiled to help support Holt Truck Finance customers.