Industry
Deposit plus balance on completion for residential; 30-60 day terms on commercial.
✓ Checking what you qualify for does not affect your credit score.
Flooring contractors in New York City are classified under Flooring Contractors, an eligible category. Industry is therefore not the question; the four things every file is read on are. Commercial work is eligible; residential remodelling is restricted.
Deposit plus balance on completion for residential; 30-60 day terms on commercial.
In New York City that usually means capital goes to materials for a signed job, vans, tooling, installer crews, showroom stock.
New York City runs on the densest small-business market in the country, with rent and payroll costs to match.
New York carries extra restrictions on the revenue-based tier here; the line of credit and term loan are unaffected.
New York winters are hard enough to remove months from the working year, so a flooring contractor account in New York City is read on the twelve-month average rather than the trough.
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. Commercial work is eligible; residential remodelling is 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.
Tied to the housing and remodel cycle. 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.
