Industry
Service work collected quickly; new-construction and commercial draws run 30-60 days.
✓ Checking what you qualify for does not affect your credit score.
Plumbing and HVAC contractors in New York City are classified under Plumbing, Heating, and Air-Conditioning Contractors, an eligible category. Industry is therefore not the question; the four things every file is read on are. Commercial and service work is eligible; new residential construction is restricted.
Service work collected quickly; new-construction and commercial draws run 30-60 days.
In New York City that usually means capital goes to stocking units ahead of the season, vans, tooling, technicians, materials for a contract.
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 plumbing and HVAC contractor account in New York City is read on the twelve-month average rather than the trough.
State trade licensing applies.
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 and service work is eligible; new residential construction 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.
Sharply seasonal: HVAC peaks in summer heat and winter cold, with shoulder-month troughs. 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.
