TruAccess Contractor Mobilization Loans
TruFund’s TruAccess Contractor Mobilizations Loans provide access to capital for contractors to fund costs of mobilization, including working capital, materials, supplies, and receivables financing.
Terms and Conditions
- $50,000 – $350,000
- Up to 30% of the full contract value
- Competitive rates
- 6 months to 2 years year term
- 3 points at closing
- 600 minimum FICO score
- 1.1x DSCR
- Minimum 2 years business and personal tax returns
- Must have a NYC or NYS contract
- No pre-payment penalty
- Use funds to mobilize or start a new contract
TruFund’s TruAccess Contractor Mobilizations Loans provide access to capital for contractors to fund costs of mobilization, including working capital, materials, supplies, and receivables financing.
Eligibility
- Credit: Must have a 600 FICO credit score Minimum Debt-Service Coverage Ratio: 1.10x
- Repayment Terms: Monthly P&I payments (may have interest-only period)
- Business Requirements: Business must have been in operation for at least 2 years
- Operating businesses must also meet one of the following criteria:
- Located in a low- to moderate-income or underserved community and/or
- Majority owned by individuals from historically underrepresented genders
- Majority owned by historically underrepresented or other disadvantaged groups
- Employs workers from low-to-moderate income communities
For assistance and more information contact one of our Business Development Officers in your area.
