Keep Your Trucking Business Trucking – Even with Bad Credit!

By: Emily Klaus | Marketing Associate

Those in the trucking and transportation industry face many challenges in their day-to-day work. Between stalled trucks, waiting on repairs and drivers stuck in traffic, there’s no shortage of frustration for these types of business owners. The last thing these merchants want or need is to have to worry about cash flow issues, especially if they have bad credit. That’s where a business loan alternative like a merchant cash advance can help most small businesses keep on trucking.

Why choose a merchant cash advance vs. a bank loan?

One of the challenges to many small businesses about traditional bank loans is the time it takes to receive the loan. From application to seeing the money in your account, it could take days or weeks, time that many trucking companies just don’t have. Maybe your best rig broke down. Or perhaps your business is booming and you need to hire more drivers quickly. Whatever the issue is, having to wait for the paperwork and potential meetings for a bank loan to happen and process is too much and can cost your trucking business in lost revenue.

The great thing about a merchant cash advance from Jet Capital is that our process, from application to funding, can take as little as 24 hours. With only three pages, our application will take small business owners just minutes to fill out, and they can expect an initial decision with a few minutes. Upon receipt of some documents and final approval, business owners like those in the trucking and transportation industry could see funds in their account the very next business banking day.

Bad credit? No problem!

Like many other traditional lenders, banks typically see just one piece of the pie when it comes to loan applications: your credit score. If your credit score is the reason your transportation business has been turned down for other traditional loans, a merchant cash advance from Jet Capital may be the solution.

Unlike banks and other lenders, Jet Capital looks at the overall health and unique situation of a business. Although your credit health may not be stellar, our unique application review process allows us to tailor our decisions and products for each individual business.

Want to get from bad credit to good credit?

No matter your credit score, there are always a few different options to get that number higher. Here are a just a few tips from FICO to raise get your bad credit looking a little better.

  • Check your credit score! Half the battle in raising your score is knowing what it actually is.
  • Set up automatic payments or payment reminders to keep you from forgetting any bills.
  • Do rate shopping for any type of loan or cash advance within a certain period of time to avoid negatively impacting your credit because of your research!
  • Keep your credit balances low and pay off your debt as soon as possible

Another thing to keep in mind is what exactly goes into calculating your credit score. At FICO, 35% of your score comes from your payment history and 30% from amounts owed, so ensuring your payments are on time and lowering your overall account balances can significantly help to raise your score!

At Jet Capital, we know credit score can be an issue in securing a traditional small business loan. That’s why we look at the unique situation for businesses in many types of industries, not just trucking and transportation. Apply online today or give us a call at 866-845-9674.


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