Industry
Deposit and balance on residential; 30-60 day terms on commercial.
✓ Checking what you qualify for does not affect your credit score.
Painting contractors in Philadelphia are classified under Painting and Wall Covering 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 and balance on residential; 30-60 day terms on commercial.
In Philadelphia that usually means capital goes to materials for a signed job, sprayers, lifts, vans, crew for the season.
Philadelphia runs on healthcare, education and an older building stock that keeps the trades busy.
Pennsylvania funds normally on every tier.
Pennsylvania winters are hard enough to remove months from the working year, so a painting contractor account in Philadelphia 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.
Weather-dependent; exterior work stops in winter. 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.
