Being in the trucking industry right now is brutal. With fuel prices and inflation soaring, truck companies are finding it harder and harder to stay operational. Bad credit commercial truck loans allow you to get fast cash, whether it is our instant cash advance up to $5,000, or our $25,000 same day loans, or up to $2 million in 24 to 48 hours, we got you covered. Read more for details.
Who We Are and Why Bad Credit Commercial Truck Loans
We are a family-owned lender out of Michigan who has provided fast working capital to thousands of businesses since 2015. We are committed to helping every business owner stay open, especially trucking businesses who might have bad credit and cannot get a traditional bank loan.
In fact, trucking companies are our number one client overall. I have personally helped three trucking companies get funded last week alone and it’s what makes me get up in the morning.
We have three bad credit commercial truck loans to choose from, which you can use for anything truck-related, whether it be to fuel up your fleet, upgrade operational software, or buy another semi. I spotlight all 3 in the section below.
Overview of Bad Credit Commercial Truck Loans
Only 13% of all small businesses get approved for a traditional bank loan. I believe trucking companies are even less likely to get a bank loan. What we offer is bad credit, no collateral trucking loans with funds available within 10 minutes, all the way up to $2 million in 1 to 3 days.
Here’s the general requirements for each trucking loan:
One) Up to $5,000 in 10 minutes with our instant truck advance. This is for truckers that only use a personal checking account for their business, or have a FICO less than 550, and/or doing less than $5,000 a month in revenue.
Two) Up to $25,000 the same day. This is for trucking companies that have a FICO of 550 or higher, do $5,000 per month or more in the last 6 months, and have a business checking account.
Three) Up to $2 million. This is for trucking companies that have a 500 FICO, and doing at least $15,000 a month for the last year, and making at least 3 business deposits into a business checking account each month. With larger amounts over $100k you will need to show last year’s profit/loss statement as well.
All three loans/advances are geared towards helping businesses get extremely fast working capital for when emergencies arise, or they have been denied by the banks.
The good news is you don’t need to worry if you meet these exact requirements because our automated online application will redirect to the proper loan program based on your answers. It takes 5 minutes to fill out and won’t affect your credit score.
Bad Credit Commercial Truck Loans Rates and Payments
Getting a commercial truck loan is painless and seamless. Our rates and repayment are simple. Factor rates are 1.20 to 1.60 and terms range from eight weeks to 24 months for the larger loans.
Repayment is daily or weekly depending on the loan program. However, repayment is automatically withdrawn from your bank so you don’t need to worry about making in-person payments or checks by mail.
How to Apply for Bad Credit Commercial Truck Loans
We are honored to help truckers across America get fast, no collateral truck loans within a few minutes or a couple days. Whether you have an emergency, like needing a truck fuel advance until the next client pays, or adding a semi to your fleet, know that we are 100% committed to helping you.
Simply click the link below to answer a few questions. Our instant cash advance is currently not available in California or New York, but our larger loans are available in those states. We wish you the best and good luck.