Are you looking for fast working capital for your trucking business? We offer the best loan for trucking bad credit ok. You can get up to $25,000 the same day or up to $2 million in 1 to 3 days with no collateral or bad credit. Read the review for the requirements of these funds.
Loan for Trucking Bad Credit OK
There are over 1.5 semis and 3 million trailers operating in America. Trucking is big business. However, only a small percentage of trucking companies qualify for a bank loan.
Banks treat trucking companies as high-risk and usually won’t touch them, despite their massive potential profits and increasing demand. This is where we come in. We help 80% of small businesses that were unable to get money from the bank. We offer the best loan for trucking period.
In the last 6 years we have helped hundreds of trucking companies keep their rigs running. In fact, trucking loans are our hottest program. The requirements are easy to understand and we have the fastest funding times online, from 10 minutes to a few hours. Read on for the requirements of this funding option.
Loan for Trucking Requirements
We offer 3 loans/advances for truckers at the moment. Here’s a brief overview of each one:
One) Instant Cash Advance for Trucking: This one is for trucking businesses that only have a personal checking account, or their income is under $5,000 per month. You can get up to $5,000 in 10 minutes. We can advance you up to 25% of your monthly revenue. So, if you make $5,000 per month you can get up to $1250. Not a lot of money for truckers.
Two) Same Day Advance up to $25,000: This one is the most popular for trucking businesses. You need a minimum FICO of 550 or higher, be doing $5,000 a month, be in business at least 6 months, and have a business checking account. We can lend up to 75% of your monthly revenue.
Three) Business Capital up to $2 Million: This loan for trucking companies can get you up to $2 million in one to three days if you are doing $15,000 per month or more, 500 FICO, and one year in business. Need a business checking account, making at least three deposits per month, and have a profit/loss statement ready. We can lend up to two times your monthly revenue with this one.
How to Pay Back a Loan for Trucking
Repayment is automatic, just like the funding process. We withdraw payment through ACH on a daily or weekly basis from the checking account you used for the loan.
We use factor rates instead of interest rates, and the range is between 1.20 to 1.60. There is no penalty to pay off early. Of course if your credit is perfect and you can wait a few weeks for money, then a traditional bank loan might work better for you. We help truckers who have less-than-perfect credit.
What Can I Use the Trucking Loan For?
As a trucking business owner, you know best what the money is needed for. Obviously, you want to keep your tractors on the road and increase your bottom line. You can use the money for anything you want. There is no red tape or fine print like there is from a bank loan.
How to Apply for a Loan for Trucking Bad Credit OK
The application process is straight-forward. Just click the link under this article and answer a couple of questions. The application will automatically redirect you to the right program. There is no hard credit check and you can accept or decline the offer you see if you pre-qualify. I hope we can help you get the fastest funding possible online, and we wish you the best of luck.