If you are a trucking business owner, we’re going to talk about how you can get up to $25,000 the same day for your business, even if you have bad credit, or no collateral because here’s the truth: Banks are only lending to 14% of businesses that apply for a business loan.
They do not care about the small business owner and they certainly do not care about trucking companies. So I am going to talk about how we can help you because we want to keep the truckers on the road. Here’s our Trucking Loans – up to $25,000 Same Day Funding Bad Credit Ok guide.
Trucking Loans – up to $25,000 Same Day Funding Bad Credit Ok 2023
I am here in Texas, which is the hub for Texas trucking and it is my passion to help you truckers stay on the road. In fact, my number one client is the trucking business.
So let’s get into the requirements. First of all, share this around to all your trucking friends because this is something so many people do not know about and we have to get the word out.
Trucking Loans No Collateral Bad Credit Ok 2023
So we help the 86% of businesses that cannot get a bank loan, so that the requirements are super simple. These are business cash advances. So they’re based on your revenue, not your FICO, not your collateral or anything like that.
There’s no red tape. It’s straightforward. If you’re doing consistent cash revenue, business revenue every single month for the last year then this is something that you can definitely look at.
How Much Trucking Loan Can I Borrow?
We can loan up to 75% of your monthly revenue. So if you’re doing $10,000 a month with your business, you could get up to $7,500 today. Now that might be a down payment on a new rig, it might be filling up part of your fleet whatever. You can use the money for anything you want to keep your rigs on the road, your tractors on the road.
Trucking Loan Requirements
So let’s dive into it. The requirements are very simple. You need a FICO of 450, 500, 550 that’s fine, that works. We lowered it down to 450. But the higher your FICO you’re gonna have better rates. It’s just that’s the bottom line.
Number two, you have to be in business for at least six months, but with trucking we’d like to see at least a year of steady revenue. Now you should be doing about three business deposits a month and have a business checking account.
Trucking Loans for Personal Checking Accounts
If you don’t have a business checking account, we do have a business cash advance based on your personal checking account, but we can only lend up to 25% of your monthly revenue.
Now don’t worry about remembering all of these requirements because our application will automatically redirect you to the right trucking loan program that you pre qualify for.
Now if you don’t qualify for any of it, you’ll just get a you know an email that says sorry, we can’t help you at this time. And it’s not going to affect your credit and you can move on from there.
But if you do qualify it will give you a pre approval, soft amount. All right, and if you like that, then you’re going to typically either fill out the application all the way and talk to an underwriter or with our automated business advances.
How Fast Can I Get a Trucking Loan?
You will connect your checking account and then that will signify that we’ll activate the final underwriting and then you’ll get a final approval amount. And if you like that, then you just accept it and you can get the funds within the same day.
So recap on requirements for up to $25,000: six months in business, FICO between 450 and 550, and doing at least $5000 a month with your business. This is for the same day Trucking advances up to $25,000.
Trucking Loans up to $2 Million in 3 to 5 Days
If you’re doing more than this, if you’re doing over $15,000 a month, then you’re going to go into a higher business cash advance where you can get up to two times your monthly revenue, one to two times.
So if you’re doing $50,000 a month with your trucking business for the last year consistently, then you can either get $50 to $100,000 of working capital in one to two days. This is the fastest money online guys.
Our instant cash advance, the one where if you only have a personal checking account, you can get the funds literally in 10 minutes as fast as you can connect your checking account to our Plaid service, which is a provider that connects banks to clients. Then you get the funds in 10 minutes.
That one is automated and is available 24/7 So if you need emergency funds, whether it is in 10 minutes or you can wait 24 hours, then check out the link under here and good luck! Keep on trucking!