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Are there grants to start a trucking company?

asked 2015-01-02 08:12:35 -0800

leeb gravatar image

updated 2015-01-07 13:58:56 -0800

Patricia gravatar image

I have been a truck driver for 23 years. In that time, I have learned that an owner-operator is the best way to do this job. Are there any grants for me to buy and start my own owner-operator trucking business? Unfortunately, I have no credit so a loan is out of the question. Are there grants to start a trucking business?

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answered 2015-01-07 14:09:50 -0800

Keith gravatar image

Unfortunately, loans are your best option. If that's not open to you, then you'll have to come up with a lot of cash. Doing so conscientiously can be hard but it's not impossible. Generic grants for capital are non-existent. Here's some ideas:

  • You're effectively looking for "angel"-funding. That is, you need an "angel" with a lot of cash to give you money. Most people starting along this route have a rich friend or family. Without a rich friend, you're back in the normal trucking business.
  • You could appeal to the internet. One guy on Kickstarter got $55,000 for potatoe salad. But the internet is a fickle place and making an appeal to it is often like shouting into a void. Still, with crowd-funding services quite popular, it's a worthwhile option to pursue. Before doing your first campaign, start by building a community around your network. Facebook is particularly good for this. Gather people online and tell them what you plan to do.
  • Some grants are particularly generous for green-initiatives like bio-diesel and whatnot. If that's your interest then learn about the National Clean Diesel Initiative.

I know those ideas aren't much in themselves. Honestly, there's no free money out there to buy you a truck. Saving and getting good terms on loans from friends is your simplest option. The Free Grants Community has more good resources in an article on Grants for Small Business.

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