Industry
Insurance-funded work can take 30-90 days to settle while materials are bought immediately.
✓ Checking what you qualify for does not affect your credit score.
Roofing contractors in New York City are classified under Roofing Contractors, an eligible category. Industry is therefore not the question; the four things every file is read on are. Commercial roofing is eligible; new residential construction is restricted.
Insurance-funded work can take 30-90 days to settle while materials are bought immediately.
In New York City that usually means capital goes to materials for a signed job, crews, trucks, equipment, supplement financing on storm work.
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 roofing contractor account in New York City is read on the twelve-month average rather than the trough.
Storm-driven work in the New York City area arrives in surges and settles on the insurer’s timetable, which is the gap capital usually has to cover.
State contractor licensing applies in most states.
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 roofing 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.
Storm-driven and highly seasonal; a single hail event can triple a quarter. 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.
