Trucking Loans with Same Day Funding

Trucking Loans with Same Day Funding

Are you a trucking company in need of fast working capital, we can help you get up to $2 million within a day or two with no collateral and unsecured. So stay till the very end of this article. My name is Erik Johnson. I am a Business Funding specialist. I help businesses stay in business and expand with fast working capital. Here are the details for fast trucking loans with same day funding.

Trucking Loans with Same Day Funding

So let’s talk about the requirements for a trucking loan the same day or the next day with no collateral unsecured, bad credit even. So, first of all, where are all the trucking companies? 

New York has 40,000 trucking companies. Then it is Chicago, then it is Houston, and it is Dallas and it is Atlanta. They all have over 30,000 trucking companies in those states. It is a thriving economy. It is what keeps America going. 

In fact, I live on a highway where every second there is a truck going by. I live in Texas. It is a thriving trucking community. We have a lot of proud trucking owners here. So I want to keep you guys going and running smoothly. 

What Can I Use Trucking Loans For?

So how can you use this money? You can use it for anything and your trucking company can get a new tractor trailer, you can fuel up your whole fleet. You can do hiring bonuses, you can get new software to keep track of your trucking and so forth. 

Requirements for Trucking Loans with Same Day Funding

So I am going to talk about the requirements really fast and you can decide from there if this is the right fit for you. We do work with over 17 in-house lenders and we only do a one time soft credit pull which won’t affect your credit so you do not have to apply at many different places and destroy your credit with us. 

We can find you the best deal because all of our lenders want to work with you. They are going to fight over your loan. All right, and so soft credit pulls with 17 lenders. If those 17 lenders don’t work then we have over 80 other lenders that can look into your application as well. 

How to Get Same Day Trucking Loan

So we have an awesome team of underwriters ready for your application. Here are the requirements: if you want a $25,000 trucking loan today or tomorrow up to $2,000,000 in 1-2 days, you are going to want all of your documentation ready, and I am going to talk about that in a second. 

You only need a credit score of 500 or higher; You need to be in business for only four months, and you need to generate $20,000 a month in revenue. 

Revenue is the most important factor because these are cash revenue-based loans. These are not based on your credit. That is why we can accept 500 – but we do need to see consistent steady cash flow. 

So for at least the last three months you need to generate $20,000 to get a $40,000 loan, because we can loan up to two times your monthly revenue. So if you’re doing $100,000 a month consistently, then you could probably get $200,000 from us. If you are doing a quarter million a year then you can probably get 500,000 from us. Okay, so keep that in mind. 

Early Trucking Loan Payoff Discounts

The requirements are the lowest in the industry, and we use factor rates and the terms are four to 24 months. If you pay it off sooner, then you can get discounts up to 30% off your interest if you have good credit. If you have fair or poor credit you can still get up to a 10% discount if you pay it off early. 

There is no penalty to pay off the loan early. Alright, so here are the documents you need to expedite this loan. So if you want more than $100,000 you are going to need a profit loss statement, you are going to need three months of your bank statements, a voided check, your driver’s license, and accounts receivable statement. 

If you have all of that stuff ready and you look out for our text and our email, and you stay on top of it and sign the application, fill it out and have all that documentation ready, then you could technically get a business loan the same day

In fact, a couple of weeks ago, we funded a business for a $115,000 loan within three hours, I believe. So it is possible we could do half a million the same day if you have all the documentation ready. And so that’s pretty much it: $25,000 to $2 million. We can fund up to two times your monthly revenue. 

Most Important Tip for Same Day Funding

The main thing to consider is consistent cash flow. So if you have a couple of weeks where you are not making anything, there is going to be trouble there because you pay back these loans on a weekly or a daily basis. It’s optional to do it daily. 

You can request to have it weekly withdrawn and it comes straight out of your business checking account. So you have to be a real business. You have to have a business checking account with the EIN number, and it comes out through ACH on a weekly basis. 

So if you are bringing in money every single week, but you need to expand your business or you have an emergency, because a lot of people are like why do I need a loan if I’m making money every month? 

Well, there are a lot of companies that are just breaking even, and they need a lump sum to buy a new tractor trailer or bring in 10 new drivers whatever it be. It could be an emergency and they need an influx of capital fast and we are the ones for you. 

Best Bank Alternative for Trucking Loans

If you try to go through the banks right now, you are looking at a 13% approval rating. You need a credit score of 700 or higher and you might have to wait several weeks or months to even get the money.

They also want you to jump through hoops and you might have to put up collateral you do not need collateral with us you need a credit score of a 500 and business be in business for four months. 

So guys that is it. If it sounds good to you click the link under this article. Fill out the application. Share this around and good luck.