Electronic Logging Device Financing
Simple application. Simple process.
Electronic logging device financing is at your fingertips.
When the electronic logging device mandate took effect in December 2017, truck drivers in the US were required to equip their trucks with electronic logging devices (ELDs), which replace paper-based logbooks and provide an easier and more efficient way to log hours-of-service (HOS). ELDs are affordable for solo truck drivers, but the costs can add up for trucking businesses with 10, 25, 50, or more than 100 trucks in their fleet. There is typically a one-time fee for installing ELDs. Then, depending on the ELD vendor you choose, there might be additional costs for add-ons such as GPS tracking and driver messaging and monthly service fees. If you are a trucking business owner and don’t have the capital to buy ELDs outright for your fleet, look to Balboa Capital. We are a top-rated small business lender that offers electronic logging device financing.
Financing is a popular choice of trucking companies throughout the US. One reason for financing’s popularity is that it conserves capital, as a large cash outlay is unnecessary. In addition, financing keeps existing cash and lines of credit free for other trucking business needs. Balboa Capital offers competitive rates and flexible payback terms. To get an idea of how much the monthly payments might be, check out our equipment financing calculator.
- Application-only for hard collateral up to $500,000
- Application-only for soft collateral up to $350,000
- If approved, same-day funding is available
- Easy online application
- One-hour approval decisions during regular business hours
- Flexible terms available
- Competitive rates
Equipment financing in 3 easy steps.
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Submit a simple online application.
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Get a prompt decision during our normal business hours.
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If your application is approved, funds will be provided fast.
What we look for.
Minimum of one year in business
$100,000+ in annual revenue
FICO® score of 620 or more
These are some of our minimum lending requirements, and meeting them does not constitute approval.
Should you apply for equipment financing, additional lending criteria will determine if you qualify.
Fast, hassle-free funding for trucking business owners.
Managing your drivers and handling the many responsibilities of owning a trucking business can be overwhelming at times. So, you want a lender that makes the entire financing process easy and efficient. Here at Balboa Capital, we do that and more. Our online application takes just a few minutes to complete, and we will promptly contact you with a decision during our regular business hours.
If your application is approved and you decide to move forward, your Balboa Capital account manager will ensure everything is taken care of. Finally, we are known for our ability to provide fast funding, so get started today!
Reasons to choose Balboa Capital.
Bank-owned business lender
Over $8 billion funded nationwide
Simple, quick process
Resources for trucking business owners and fleet managers.
Electronic logging device (ELD) guide
Learn what an ELD is, how it works, and more.
Return on assets (ROA) guide
Find out how to calculate ROA and interpret the results.
What is a letter of intent?
Learn about this non-legally binding business document.
