What's Happening?
ROK Financial has introduced a new financing option for remodeling and roofing contractors, offering loans without requiring a hard credit check. This initiative allows contractors with poor credit to access capital quickly, with approvals often occurring within 24 hours and funding available in one to three business days. The company evaluates businesses based on monthly revenue, operational history, and project workload instead of personal credit scores. Loan amounts range from $10,000 to $5 million, providing flexibility for contractors to secure resources for projects and maintain competitive operations.
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Why It's Important?
The introduction of no-credit-check financing by ROK Financial is significant for contractors who struggle with traditional credit checks. This approach enables businesses to access necessary funds quickly, enhancing cash flow and supporting growth. It also addresses the financing needs of other trades, potentially boosting the construction and home improvement sectors. By focusing on business performance rather than personal credit scores, ROK Financial is providing a lifeline to contractors facing financial barriers.
