Are you a trucking business owner in Memphis and need fast working capital? We offer same day business loans for trucking companies in California up to $2 million dollars in one to three days, bad credit and no collateral needed. Here’s our review of Trucking Loans Memphis Bad Credit OK.
Why Use Trucking Loans Memphis TN Bad Credit OK
There will be a shortage of over 150,000 truckers in Memphis in the next ten years. Even though trucking can be very lucrative, if emergencies happen, trucking owners can’t get a business loan.
In fact, only 13% of businesses get approved for a traditional bank loan. Big banks consider trucking as high-risk, and won’t touch them unless they generate massive income, have perfect credit, and provide collateral.
We believe in helping every small business get fast working capital when banks won’t. We help the 80% of Memphis trucking businesses who cannot get approved for a bank loan.
We offer 3 loans/advances for trucking companies in Memphis, a majority of truckers who apply can receive money the same day or the next day. We even have an instant trucking loan for companies who don’t have a business checking account for their business. Here’s the guidelines for each trucking loan in Memphis.
Overview of Our Trucking Loans Memphis
We offer three loan programs. Our instant cash advance is only for trucking companies that only have a personal checking account and you can get only up to $5,000, so we will skip that one.
We offer up to $25,000 the same day if your trucking company generates at least $5,000 a month in revenue, has a FICO of 550 or higher, and has been in business for at least six months. We can lend up to 75% of your monthly revenue for this program, depending on the health of your checking account, daily cash value etc.
We also offer up to $2 million dollars in one to three days for your trucking business. Must be in business at least a year, make $15,000+ per month consistently, and have a FICO of 500 or higher. No Collateral. No red tape. We can offer up to two times your monthly revenue, depending on the health of your business finances.
To expedite the loan process and get funds faster, especially for larger loan amounts above $100k, have 3 months of business statements ready (one year’s worth for over $100k), have a profit/loss statement ready, a voided business check, and driver’s license.
Our loan application will automatically redirect you to the right loan program if you pre-qualify. If you pre-qualify, you can view the loan offer we have provided. Check spam and texts for our notifications if you don’t see anything.
You can rest knowing that you have funds awaiting for you in a few hours or a couple days, rather than waiting weeks or months for a bank loan. You can use the money for anything you need to keep your tractors on the road. We have helped thousands of Tennessee businesses get same day funding since 2015, and trucking is our #1 client.
Memphis Trucking Loans Loan Rates
Our rates are straightforward: 1.19 to 1.60 factor rates. So, if you borrow $10,000 with a factor rate of 1.20, you’d pay back $12,000. Our terms are 8 weeks to 24 months depending on the size of the loan. You get your own dedicated account manager and can borrow multiple times.
If you approve the loan, you will have already connected your bank account or will be asked to. The funds will be deposited into your account shortly after being approved. You pay the loan back daily or weekly automatically through ACH.
How to Apply for Trucking Loans Memphis Bad Credit OK
Getting a loan for trucking shouldn’t be hard or frustrating. Memphis is a vibrant business hub for hundreds if not thousands of industries. We not only want to help Tennessee trucking companies, but also any small business that generates revenue, but just doesn’t have the extra capital to expand or fix emergencies. I hope this helps you out and God Bless. Click the link below to apply.
Erik C. Johnson