Financing for Trucking & Transport Businesses is very difficult for you right now.
This is an outline of our No Doc trucking financing program. It is intended for quick working capital needs. You can typically get funded same day or next day once the requirements are in.
Truck Working Capital Financing Requirements:
- Up to $150,000 approved typically in 3 to 5 Hours.
- Minimum Transport Requirements: 3 months in business, $30,000 monthly revenue and 500 FICO
- Must Deliver Direct (No Sub contractors)
- 2 Deposits per month
- Deposited to your Business Account as soon as same or next Business Day.
- Loan amounts from $10,000 to $150,000. No collateral required.
- Minimal documentation is required (One page App & 4 Bank statements)
- FICO Credit Score 500+
- Bridge Loan Plan- We will help you with reputable credit advisor/service. Free in IN & other. Better rates later.
Contact us right away and we can help you determine if which possible lending options might work best for you.
In a hurry and like to get preapproved?
Text: FUNDNOW to (317) 676-6726. We will send an App & get you started
Business Loans for Trucking
Business loan programs for trucking companies with 20+ Trucks are financed through banks, SBA Banks and private lenders.
Here are the items we typically will need for a traditional business loan for a trucking company
Full Financial package:
The items the lender needs to prequalify and offer financing:
(please call (317) 589-0118 or contact us to make sure forms are updated)
Use the following checklist to ensure you have everything the lender will ask for. Once your loan package is complete, your lender will submit it to SBA:
- Borrower information form: Complete SBA Form 1919 and submit it to an SBA-participating lender
- Financial statements: Complete SBA Form 413 (personal financial statement). This helps SBA and other stakeholders assess your eligibility.
- Business financial statements: Submit the following to help show your ability to repay a loan:
- Profit and loss statement – Current within 180 days of your application. Also include supplementary schedules from the last three fiscal years.
- Projected financial statements – Include a detailed, one-year projection of income and finances and explain how you expect to achieve this projection.
- Current balance sheet and profit and loss statement
- Federal income tax returns for the previous three years
- Proposed bill of sale including the terms of sale
- Asking price with schedule of inventory, machinery and equipment, and furniture and fixtures
- Franchise, jobber, or licensing agreements
- Proof of equity injection
- Business Plan
Truck Equipment Loans and Financing
Equipment Financing through Foresight Business Funding gives you multiple leasing and lending options. We have a network of lenders including banks and private lenders to fit most equipment purchase needs.
- Financing Size: $5,000 to $5,000,000+
- Financing Terms: 60 Month Payment Terms to 10-Year Terms Available
- Custom Payment Options
- 100% Financing Available (0% Down on Equipment Purchases) 20%+ down for Startups
- Competitive Pricing
- Most Industries Eligible
- Dealer & Private Party Sales
- Nationwide Financing
- Start-Up Terms Available ( No minimum Time in Business. Financing for Startups Available, but 3 months bank statements are typically required)
- Approvals in Hours
- Same Day Funding
- NEW and USED Equipment
- 500+ minimum credit considered through our marketplace. 700+ FICO for preferred lender.
- Custom Payment Structures Available to meet the needs of the business. Such as seasonal payments, step payments, etc.
- Freight Trucking 620 FICO with no minimum owned truck requirement