Industry
Immediate cash and card receipts with almost no receivable.
✓ Checking what you qualify for does not affect your credit score.
Laundromats in Los Angeles are classified under Coin-Operated Laundries and Drycleaners, an eligible category. Industry is therefore not the question; the four things every file is read on are.
Immediate cash and card receipts with almost no receivable.
In Los Angeles that usually means capital goes to washers and dryers, card systems, water heaters, a second location, build-out.
Los Angeles runs on entertainment, logistics through the ports, and an enormous independent retail and food scene.
California carries extra restrictions on the revenue-based tier here; the line of credit and term loan are unaffected.
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. The category is eligible; the file is read on revenue, deposits, time in business and existing positions.
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.
Very steady; equipment failure is the main shock. 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.
