US Bank: "No loans for owner operators."

Got a call from Therese at Capital West. She said that unless a company has five or more trucks in their fleet, they will not loan money to any long haul trucker. Doesn't matter if your credit score is perfect. Doesn't matter if you've always paid your loans on time. Doesn't matter if you have a contract to haul cars. She said that the underwriters at US Bank are concerned that if a loan goes south, anybody with fewer than five trucks will be hard to find in the event they need to repo the truck.

If you do have more than five trucks, here is what you should expect to provide for a loan of $200,000:

Two years tax returns.
Personal financial statement.
Proof of home ownership.
Last 3 month's bank statements.
At least 10,000 average balance in your main banking account.

I asked what sort of interest someone with a perfect truck payment history could expect, with five year's prior experience in the industry. She said around 11.8%, but that was on a lease deal.