Industry
Broker settlements run 30-45 days while fuel, maintenance and drivers are paid immediately.
✓ Checking what you qualify for does not affect your credit score.
Trucking companies in New York City are classified under Local and Regional Freight Trucking, an eligible category. Industry is therefore not the question; the four things every file is read on are. Local and regional freight is eligible. Long-distance TL and LTL trucking is restricted.
Broker settlements run 30-45 days while fuel, maintenance and drivers are paid immediately.
In New York City that usually means capital goes to fuel between settlements, repairs, a tractor or trailer, insurance premiums, driver pay.
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.
Operating authority, DOT registration and insurance filings apply.
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. Local and regional freight is eligible. Long-distance TL and LTL trucking 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.
Rate-cycle driven; fuel price swings hit margin directly. 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.
