<PAGE>   1
                                                                    EXHIBIT 10.2

                 BANK OF AMERICA SUMMARY OF TERMS AND CONDITIONS

                                 USA TRUCK INC.



                       $60,000,000 SENIOR CREDIT FACILITY


BORROWER:               USA Truck Inc., a Delaware corporation (the "Borrower").

ADMINISTRATIVE AGENT:   Bank of America, N.A. (the "Administrative Agent" or
                        "Bank of America") will act as sole and exclusive
                        administrative and collateral agent.

LENDERS:                A syndicate of financial institutions (including Bank of
                        America) arranged on a best efforts basis, which
                        institutions shall be acceptable to the Borrower and the
                        Administrative Agent (collectively, the "Lenders").

SENIOR CREDIT FACILITY: An aggregate principal amount of up to $60,000,000 will
                        be available upon the terms and conditions hereinafter
                        set forth:

                        Senior Credit Facility: A $60,000,000 revolving credit
                        facility (the "Senior Credit Facility") with a sublimit
                        for the issuance of letters of credit (each a "Letter of
                        Credit") and a sublimit for swingline loans (each a
                        "Swingline Loan"). Letters of Credit will be issued by
                        Bank of America (in such capacity, the "Fronting Bank")
                        and Swingline loans will be made available by Bank of
                        America, and each Lender will purchase an irrevocable
                        and unconditional participation in each Letter of Credit
                        and Swingline Loan.

SWINGLINE OPTION:       Swingline Loans will be made available on a same day
                        basis in an aggregate amount not exceeding $5,000,000.
                        Borrower must repay each Swingline Loan in full no later
                        than seven days after such loan is made.

PURPOSE:                The proceeds of the Senior Credit Facility shall be
                        used: (i) to refinance the outstanding principal amount
                        of existing indebtedness of the Borrower; (ii) to pay
                        for capital expenditures; (iii) to provide for working
                        capital, letters of credit and other general corporate
                        purposes of the Borrower.

CLOSING:                The execution of definitive loan documentation, to occur
                        on or before April 28, 2000 ("Closing").

INTEREST RATES:         As set forth in Addendum I.


<PAGE>   2

MATURITY:               The Senior Credit Facility shall terminate and all
                        amounts outstanding thereunder shall be due and payable
                        in full five years from Closing.

AVAILABILITY/SCHEDULED
AMORTIZATION:           Senior Credit Facility: Loans under the Senior Credit
                        Facility ("Revolving Credit Loans") may be made, and
                        Letters of Credit may be issued, in each case subject to
                        availability. Availability shall be determined by a
                        Borrowing Base. Advance rates will be 85% for Eligible
                        Accounts Receivable and 85% of the lower of book value
                        or market value (per sampling of fleet) of Eligible
                        Unencumbered Equipment.

SECURITY:               The Senior Credit Facility will be secured by a first
                        priority lien on Accounts Receivable, as defined in the
                        Loan Documents, and at closing, a conditional security
                        interest in Unencumbered Revenue Equipment, as defined
                        in the Loan Documents, which shall attach and be
                        perfected as follows: (i) upon the occurrence of a
                        Triggering Event, as defined below, the security
                        interest shall attach to the Unencumbered Revenue
                        Equipment, (ii) upon the occurrence of a Triggering
                        Event, the Borrower shall deliver all titles and other
                        documents necessary to Administrative Agent to perfect a
                        lien on the Unencumbered Revenue Equipment ("Perfection
                        Documents") to the Collateral Agent. The collateral
                        agent shall be a bank mutually acceptable to Lenders and
                        Borrower and (iii) upon receipt of the Perfection
                        Documents, the Administrative Agent shall have option to
                        perfect the Administrative Agent's security interest in
                        the Unencumbered Revenue Equipment by recording such
                        security interest on one or more titles to the
                        Unencumbered Revenue Equipment. Borrower shall advance
                        to Administrative Agent the cost to be incurred by
                        Administrative Agent in accomplishing such perfection.
                        The Loan Documents shall also contain a negative pledge
                        as to all other unencumbered corporate assets.
                        Triggering Event shall be defined as an Event of
                        Default, as defined in the Loan Documents, or the Total
                        Funded Debt to EBITDAR being greater than 2.50x until
                        September 30, 2000, then 2.35x thereafter.

                        Borrower shall prior to or at closing take all actions
                        necessary to insure that in the event the security
                        interest of the Administrative Agent attaches, it will
                        constitute a first priority lien on Borrower's
                        Unencumbered Revenue Equipment, including, but not
                        limited to obtaining third party consents, intercreditor
                        agreements and other agreements as shall be requested by
                        the Administrative Agent, in each case in form and
                        substance satisfactory to the Administrative Agent.

                        The foregoing security shall ratably secure the Senior
                        Credit Facility and any interest rate swap/foreign
                        currency swap or similar agreements with a Lender or its
                        affiliates under the Senior Credit Facility.

<PAGE>   3

MANDATORY PREPAYMENTS
AND COMMITMENT
REDUCTIONS:             In addition to the normal advances and payments on the
                        Senior Credit Facility, the Senior Credit Facility will
                        be prepaid by an amount equal to (i) 100% of the net
                        cash proceeds of all asset sales by the Borrower or any
                        subsidiary of the Borrower (including sales of stock of
                        subsidiaries), other than sale of revenue equipment and
                        inventory through the normal course of business, subject
                        to de minimus baskets and reinvestment provisions to be
                        agreed upon and net of selling expenses and taxes to the
                        extent such taxes are paid; (ii) 100% of the net cash
                        proceeds from the issuance of any debt (excluding
                        certain permitted debt to be agreed upon) by the
                        Borrower or any subsidiary of the Borrower; and (iii)
                        50% of the net cash proceeds from the issuance of equity
                        by the Borrower or any subsidiary of the Borrower.

OPTIONAL PREPAYMENTS
AND COMMITMENT
REDUCTIONS:             The Borrower may prepay the Senior Credit Facility in
                        whole or in part at any time without penalty, subject to
                        reimbursement of the Lenders' breakage and redeployment
                        costs in the case of prepayment of LIBOR borrowings.

CONDITIONS PRECEDENT
TO CLOSING:             The Closing (and the initial funding) of the Senior
                        Credit Facility will be subject to satisfaction of the
                        conditions precedent deemed appropriate by the
                        Administrative Agent and the Lenders for transactions of
                        this type, including, but not limited to, the following:

                        (i)     The Administrative Agent's satisfactory review
                                of the Loan Documents (including all schedules
                                and exhibits thereto). The Loan Documents shall
                                not have been altered, amended or otherwise
                                changed or supplemented or any condition therein
                                waived without the prior written consent of the
                                Administrative Agent.

                        (ii)    Receipt and review, with results satisfactory to
                                the Administrative Agent and its counsel, of
                                information regarding litigation, tax,
                                accounting, labor, insurance, pension
                                liabilities (actual or contingent), real estate
                                leases, environmental matters, material
                                contracts, debt agreements, property ownership,
                                contingent liabilities and management of the
                                Borrower, and its respective subsidiaries, which
                                information will include a review of
                                unencumbered revenue equipment and related
                                systems.

                        (iii)   Receipt of audited consolidated financial
                                statements of USA Truck Inc. for the fiscal
                                years ended 1997, 1998 and 1999. Receipt of
                                company-prepared annual projections for the
                                transaction horizon.

<PAGE>   4

                        (iv)    The negotiation, execution and delivery of
                                definitive documentation for the Senior Credit
                                Facility satisfactory to the Administrative
                                Agent and the Lenders (the "Loan Documents"),
                                which shall include, without being limited to
                                (a) satisfactory opinions of counsel to the
                                Borrower (which shall cover, among other things,
                                authority, legality, validity, binding effect
                                and enforceability of the documents for the
                                Senior Credit Facility) and of local counsel and
                                such other customary closing documents as the
                                Administrative Agent shall reasonably request,
                                and (b) satisfactory evidence that the
                                Administrative Agent (on behalf of the Lenders)
                                upon attachment of the conditional security
                                interest, will hold a perfected, first priority
                                lien in all of the collateral for the Senior
                                Credit Facility, subject to no other liens
                                except for permitted liens to be determined.

                        (v)     There shall not exist any pending or threatened
                                action, suit, investigation or proceeding,
                                which, if adversely determined, could materially
                                and adversely affect the Borrower or its
                                subsidiaries, any transaction contemplated
                                hereby or the ability of the Borrower and its
                                subsidiaries to perform its obligations under
                                the documentation for the Senior Credit Facility
                                or the ability of the Lenders to exercise their
                                rights thereunder.

                        (vi)    There shall not have occurred a material adverse
                                change since the most recently ended fiscal year
                                for which an audit has been completed in the
                                business, assets, liabilities (actual or
                                contingent), operations, condition (financial or
                                otherwise) or prospects of the Borrower, in each
                                case together with its subsidiaries taken as a
                                whole, or in the facts and information regarding
                                such entities as represented to date.

                        (vii)   There shall be no less than $10 million of
                                availability under the Revolving Credit Facility
                                at Closing after giving effect to the payoff of
                                Deposit Guaranty Bank and all borrowings under
                                the Revolving Credit Facility on such date.

                        (viii)  The Administrative Agent, any Lender and/or
                                their affiliates shall have received all fees
                                and expenses required to be paid on or before
                                Closing.

<PAGE>   5

                        (ix)    Receipt and review, with results satisfactory to
                                the Administrative Agent and the Lenders, of
                                information confirming that the Borrower's
                                material computer applications and those of its
                                key vendors and customers adequately address the
                                Year 2000 problem in all material respects.

                        (x)     The absence of any material disruption of or a
                                material adverse change in conditions in the
                                financial, banking or capital markets which the
                                Administrative Agent in their sole discretion,
                                deem material in connection with the syndication
                                of the Senior Credit Facility.

REPRESENTATIONS
AND WARRANTIES:         Usual and customary representations and warranties for
                        transactions of this type, including, but not limited
                        to, the following: (i) corporate existence and status;
                        (ii) corporate power and authority/enforceability; (iii)
                        no violation of law or contracts or organizational
                        documents; (iv) no material litigation; (v) correctness
                        of specified financial statements and other information
                        and no material adverse change; (vi) no required
                        governmental or third party approvals; (vii) use of
                        proceeds/compliance with margin regulations; (viii)
                        status under Investment Company Act; (ix) ERISA matters;
                        (x) environmental matters; (xi) perfected liens and
                        security interests; (xii) payment of taxes; (xiii)
                        accuracy of disclosure; and (xiv) Year 2000
                        preparedness.


COVENANTS:              Usual and customary covenants for transactions of this
                        type, including, but not limited to, the following: (i)
                        delivery of financial statements and other reports; (ii)
                        delivery of compliance and borrowing base certificates;
                        (iii) delivery of notices of default, material
                        litigation and material governmental and environmental
                        proceedings; (iv) compliance with laws (including
                        environmental laws and ERISA matters) and material
                        contractual obligations; (v) payment of taxes; (vi)
                        maintenance of insurance; (vii) limitation on liens and
                        negative pledges; (viii) limitation on mergers,
                        consolidations and sale of the company and/or assets;
                        (ix) limitation on incurrence of debt; (x) limitation on
                        stock repurchases in excess of $5 million in any fiscal
                        year or $10 million in the aggregate over the life of
                        the facility. Stock repurchases will be subject to
                        before mentioned limits and to no proforma events of
                        default after giving effect to the redemptions; (xi)
                        redemptions and/or prepayment of other debt; (xii)
                        limitation on investments and acquisitions, provided
                        however such limitation shall not prohibit one or more
                        acquisitions if the aggregate purchase price for all
                        such acquisitions does not exceed $10 million; (xiii)
                        limitation on transactions with affiliates; and (xiv)
                        Year 2000 compliance.

<PAGE>   6

                        Financial covenants to include (but not be limited to):

               o    Maintenance on a rolling four quarter basis of a Maximum
                    Leverage Ratio (total funded debt/EBITDAR) of 3.00x (total
                    funded debt is to include capitalized leases and the present
                    value of operating leases).

               o    Maintenance on a rolling four quarter basis of a Minimum
                    Fixed Charge Coverage Ratio (EBITDAR/(cash interest expense
                    plus scheduled principal/lease repayments plus 25% Revolving
                    Credit Facility outstandings plus rents plus cash taxes)) of
                    1.25x.

               o    Minimum Net Worth of $65 million with step-ups equal to 50%
                    of cumulative net income, less any stock repurchases,
                    subject to the above limits.

EVENTS OF DEFAULT:      Usual and customary for financings of this type,
                        including, but not limited to, the following: (i)
                        nonpayment of principal, interest, fees or other
                        amounts, (ii) violation of covenants, (iii) inaccuracy
                        of representations and warranties, (iv) cross-default to
                        other material agreements and indebtedness, with
                        "material" for purposes of this event of default meaning
                        one or more defaults outstanding at any one time on
                        indebtedness that equals or exceeds $2 million in the
                        aggregate, (v) bankruptcy and other insolvency events,
                        (vi) material judgments, (vii) ERISA matters, (viii)
                        actual or asserted invalidity of any loan documentation
                        or security interests.

ASSIGNMENTS AND
PARTICIPATIONS:         Each Lender will be permitted to make assignments in
                        acceptable minimum amounts to other financial
                        institutions approved by the Administrative Agent and
                        Borrower, which approval shall not be unreasonably
                        withheld. Lenders will be permitted to sell
                        participations with voting rights limited to significant
                        matters such as changes in amount, rate and maturity
                        date and releases of all or substantially all of the
                        collateral.

WAIVERS AND
AMENDMENTS:             Amendments and waivers of the provisions of the loan
                        agreement and other definitive credit documentation will
                        require the approval of Lenders holding loans and
                        commitments representing a percentage to be determined
                        of the aggregate amount of loans and commitments under
                        the Senior Credit Facility, except that (i) the consent
                        of all of the Lenders affected thereby shall be required
                        with respect to (a) increases in the commitment of such
                        Lenders, (b) reductions of principal, interest, or fees,
                        (c) extensions of scheduled maturities or times for
                        payment, and (d) releases of all or substantially all of
                        the collateral or consents to waivers of the negative
                        pledge.

<PAGE>   7

INDEMNIFICATION:        The Borrower shall indemnify the Administrative Agent
                        and the Lenders and their respective affiliates from and
                        against all losses, liabilities, claims, damages or
                        expenses arising out of or relating to the Senior Credit
                        Facility, the Borrower's use of loan proceeds or the
                        commitments, including, but not limited to, reasonable
                        attorneys' fees (including the allocated cost of
                        internal counsel) and settlement costs. This
                        indemnification shall survive and continue for the
                        benefit of the indemnitees at all times after the
                        Borrower's acceptance of the Lenders' commitments for
                        the Senior Credit Facility, notwithstanding any failure
                        of the Senior Credit Facility to close.

CLEAR MARKET
PROVISION:              From the date of acceptance of the commitment until
                        Closing, there shall be no competing offering, placement
                        or arrangement of any debt securities or bank financing
                        by or on behalf of the Borrower. The Borrower will
                        immediately advise Bank of America if any such
                        transaction is contemplated.

GOVERNING LAW:          Missouri.

FEES/EXPENSES:          As set forth in Addendum I.

OTHER:                  This Summary of Terms is intended as an outline of
                        certain of the material terms of the Senior Credit
                        Facility and does not purport to summarize all of the
                        conditions, covenants, representations, warranties and
                        other provisions which would be contained in definitive
                        legal documentation for the Senior Credit Facility
                        contemplated hereby. The Borrower shall waive its right
                        to a trial by jury. The Borrower and other parties to
                        the Loan Documents shall agree to binding arbitration in
                        the event of a dispute or disagreement.