Industry
Progress draws on 30-60 day terms against weekly payroll and up-front materials.
✓ Checking what you qualify for does not affect your credit score.
Construction companies are classified under Construction of Buildings and Specialty Trade Contractors, which is an eligible category. That takes industry off the table and leaves the same four things every file is read on: average daily balance against revenue, time in business, negative days and NSFs, and existing positions. Commercial and institutional building and specialty trades are eligible. New residential construction and residential remodelling are restricted.
Progress draws on 30-60 day terms against weekly payroll and up-front materials.
In Vermont that usually means capital goes to materials for a signed contract, payroll between draws, equipment, bonding support.
Weather and permit cycles drive it; winter is the constraint in northern states.
Vermont funds normally on every tier — no extra restrictions apply.
Most of this activity sits around Burlington, South Burlington, Rutland, Essex and Montpelier.
We fund businesses in all 50 states. California and New York carry extra restrictions on the revenue-based tier.
State contractor licensing applies in most states. Licensing is not a funding threshold here, but an expired licence shows up in diligence.
Tier 1: 650 FICO, 3 years in business, $300,000 a year or $25,000 a month, 8+ monthly deposits.
Tier 2: 600 FICO, 6 months in business, $60,000 revenue, $800 minimum daily balance.
Renewal: 550 FICO, 2 years in business, once 50% of the original balance is repaid.
The minimum FICO is 500. The 650/600/550 tiers are product criteria that decide which product a file is read against, not a floor on the business. Scores in the 500s are placed routinely and are read on revenue, deposit consistency and time in business rather than on the score alone.
Yes. Construction companies are classified under Construction of Buildings and Specialty Trade Contractors, which is an eligible category . Commercial and institutional building and specialty trades are eligible. New residential construction and residential remodelling are restricted.
The minimum FICO is 500. The 650/600/550 tiers are product criteria that decide which product a file is read against, not a floor on the business. Scores in the 500s are placed routinely and are read on revenue, deposit consistency and time in business rather than on the score alone.
Same-day decision and next business day funding on a complete file — the application plus three months of business bank statements.
Weather and permit cycles drive it; winter is the constraint in northern states. Underwriting reads the average and the deposit count, not the peak month.
Same-day decision. Applying takes a few minutes and will not affect your credit score.
