Houston has the most trucking companies out of any other city in Texas. We help trucking companies receive fast working capital when they need money faster than what the banks can offer.
There’s over 1600 trucking companies listed in the Yellow Pages for Houston. Most of our clients are trucking companies in Texas. So let’s dive into the loan requirements so we can get you money for your Houston trucking company today!
Trucking Loans Bad Credit Houston, TX
Whether you need to repair your equipment, buy new tires, fuel your tractors, you need money fast. If you waited for a bank loan it could take weeks or months to get the money – and that’s if they approve you.
We can get you from $2000 to $25,000 the same day, even if you have bad credit. You also don’t need collateral or jump through any red-tape. With a simple 5 minute application you can see if you are pre-approved for any of our bad credit funding options.
Trucking Loans Bad Credit Houston, TX Requirements
For trucking companies, we would like to see you have a year of monthly revenue, ideally over $5,000 of earnings per month. We know it is hard right now and it seems counter-intuitive to think that you need to show revenue to get money for your trucking business, but these are revenue-based business loans.
Only 14% of trucking businesses can get approved for a traditional bank loan. We help the other 86% of trucking companies get a business loan even if their credit score is under 600, or even under 500 FICO.
So, if you have done $5,000 a month the last 3 months to a year, have been in business for at least 6 months, and have a FICO of 450 or higher, you might be in luck. You can even have existing loans out there, we just deduct your existing loan amount to the new loan amount.
You also cannot have more than 5 negative bank days in the last 90 days, that means no zero balance days or you have a negative balance in the bank more than five days. You also need a business checking account. Super easy requirements, again with no fine print disclaimers.
We use factor rates instead of interest rates, so the range is from 1.19 to 1.60, so just multiply the number by the amount you borrowed and that’s what you pay back: 1.19x 20,000 for example. Payments are taken out automatically through your bank on a daily or weekly schedule through ACH.
If you apply early Monday through Friday with your driver’s license, a voided business check, and three months to a year of bank statements ready to upload, you will have a good chance of getting funding the same day up to $25,000 – or up to $2 Million in 3 to 5 days.
How to Apply for Instant Trucking Business Loans in Houston, Texas
If this sounds good to you and your trucking company is in Houston or around Houston, we can certainly help you! Simply click the apply here below and answer a few simple questions about your trucking business. The application will redirect you to the right funding option for you. It won’t affect your credit score.
It is getting harder and harder for trucking companies to survive during fuel price increases, supply-chain issues, and so forth. Trucking is the back-bone of America and the big corporations want nothing to do with these hard-working Americans.
I am honored to help you get the fast funding you need to stay on the road. I wish you all the success in the world in getting the funds you need to keep your tractors on the road!