A borrower needed some quick working capital to assist with the purchase of a new truck. Even though the borrower had average credit and his business was cash-flow positive, finding financing had proved difficult.
Trucking is considered a high-risk industry by most lenders. Additionally, this borrower only owns one truck which greatly increases the chances of default should that truck breakdown. The fact that this business is a sole proprietorship and not a corporation, was a non-starter for most lenders.
We funded this borrower $6,500 of unrestricted working capital in 2 days and approved this transaction based off of 3 months of bank statements and a 1-page credit application.
Private Business Term Program
Our Private Business Term Program offers daily, weekly and monthly payments, unrestricted working capital, business credit lines, no prepayment penalty options and rates starting at 7.99%, but we also offer: No collateral requirement, no restricted industries, no caps on NSFs, no minimum deposit requirements, no time-frame for bankruptcies or foreclosures, no judgment restrictions, credit down to 500, minimum time in business down to 2 months and much, much, more
Contact us for more information about a working capital loan.