Hotshot Lease Agreements — Part 7: SBA Forms 1919 + 413 + Broker COI by Lane (2026-08-12)

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Hotshot Lease Agreements — Part 7: SBA Forms 1919 + 413 Walkthrough + Broker COI by Lane (2026-08-12)

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TL;DR

§A.1 — SBA Form 1919 (Borrower Information Form) line-by-line walkthrough. The form collects business identity + ownership + character/eligibility + facility/security info. Critical traps: “Yes” answers to certain questions make the loan flatly ineligible (no workaround). All 20%+ owners + general partners + managing LLC members + guarantors must complete.

§A.2 — SBA Form 413 (Personal Financial Statement) line-by-line walkthrough. All assets + liabilities + income sources + real estate + stocks/bonds. Must be dated within 120 days of submission. Knowingly false statements = federal crime (18 U.S.C. 1001, up to $250K fine and 5 years). Schedule A/B/C overflow rules.

§B.1 — FMCSA insurance filing forms (BMC-91, BMC-91X, MCS-90). BMC-91 = single insurer. BMC-91X = multiple insurers (most common for owner-ops). MCS-90 = federal public-protection endorsement attached to the liability policy. These are what brokers actually check when they verify your authority.

§B.2 — Broker COI requirements by lane. Hotshot: 50K-250K cargo typical. Reefer: 250K-1M + refrigeration-breakdown coverage. Flatbed: 100K-250K + securement requirements. Car-haul: 250K-500K + garagekeepers coverage. Broker rejection causes = wrong limit, wrong insured name, missing MCS-90/BMC-91X, expired dates.

1. SBA Form 1919 — Borrower Information Form Walkthrough

1.1 What the form does

Per LegalClarity, “SBA Form 1919: Borrower Information Form Instructions” (May 18, 2026) and the official form at sba.gov/sites/default/files/2024-07/Form1919+(1).pdf:

Form 1919 is the gateway document that starts every SBA 7(a) loan application. The form collects background details on the business and its key owners, allowing the SBA and participating lenders to screen applicants for eligibility before committing a federal guarantee. The 7(a) program covers loans up to $5 million with repayment terms up to 25 years.

OMB Control No.: 3245-0348. Expiration: 09/30/2023 (but the form is currently accepted for new submissions while SBA updates).

1.2 Who must complete Form 1919

Per LegalClarity and SigPen, a separate Form 1919 must be completed for each co-Applicant (e.g., EPC and OC — Eligible Passive Company and Operating Company in SBA structure).

Federal regulations (13 CFR §120.10) define “associate” as anyone who must be identified on the form:

  • Officers, directors, owners holding more than 20% of equity
  • Key employees
  • Anyone guarantying the loan (regardless of ownership %)

If the business is owned by another entity rather than individuals, the authorized representatives of that parent company must be identified. Each person or entity that qualifies must sign.

For a single-member hotshot LLC owned 100% by you: you complete one Form 1919. For a husband-wife hotshot LLC where each spouse owns 50%: each spouse completes a separate Form 1919.

1.3 Section I: Business Information

  • Legal name as it appears on organizational documents (articles of incorporation, LLC operating agreement). Not a DBA.
  • EIN (Employer Identification Number) — 9 digits, format XX-XXXXXXX
  • Physical street address for the primary business location. P.O. box won’t work.
  • NAICS code — SBA uses this to determine whether you qualify as “small” under its size standards. For hotshot trucking: NAICS 484121 (General Freight Trucking, Long-Distance, Truckload) or 484122 (General Freight Trucking, Long-Distance, Less Than Truckload). Size standard: $34.5M annual revenue (2026).
  • Date business started — month/year
  • State of incorporation/organization
  • Business structure (LLC, corporation, partnership, sole proprietor)
  • Number of employees (including owner-operators)
  • Annual revenue (most recent fiscal year)
  • Tax ID type (EIN, SSN if sole prop)

1.4 Section II: Ownership Information

  • Each owner with 20%+ stake:
    • Full legal name
    • SSN
    • DOB
    • Home address
    • Ownership %
    • Position/title
  • Total ownership should = 100% across all listed owners

1.5 Section III: Character/Eligibility Questions (the trap section)

Per LegalClarity: “A ‘Yes’ here makes the loan request flatly ineligible for SBA assistance. There’s no workaround.”

These questions include (paraphrased from the form):

  • Are you or any associate currently the subject of a criminal proceeding, indictment, or information?
  • Have you or any associate been convicted of a felony or any crime involving fraud, dishonesty, or a violation of public trust in the past 7 years?
  • Are you or any associate currently suspended, debarred, or proposed for debarment by any federal agency?
  • Are you or any associate delinquent on any federal debt (taxes, student loans, SBA loans, etc.)?
  • Have you or any associate filed for bankruptcy in the past 7 years?
  • Have you or any associate had an SBA loan charged off or paid by a guaranty in the past 7 years?
  • Are you or any associate currently the subject of any pending insurance claim or lawsuit that could materially affect your ability to repay?
  • Have you or any associate been convicted of a crime involving the use of a motor vehicle (DUI, etc.) in the past 7 years?

If “Yes” to any of these: the loan is automatically ineligible. Don’t lie. Federal crime (per Part A.2 below). If you have a legitimate “Yes” (e.g., dismissed DUI from 6 years ago), consult a SBA-experienced attorney before applying.

1.6 Section IV: Use of Proceeds

  • Loan purpose — typically checked: “Purchase equipment” or “Working capital”
  • Detailed description of what the loan will buy (e.g., “Purchase 2020 Ram 3500 dually pickup (35,000) and 2022 40ft gooseneck trailer (25,000) for use in long-distance expedited freight hauling under hotshot authority”)
  • Amount requested
  • Use of other financing sources — SBA wants to see you’ve explored conventional options first

1.7 Section V: Business Operations

  • Primary business activity (description in your own words)
  • Customer base (brokers, shippers, percentages)
  • Geographic area of operations
  • Number of vehicles (owned, leased, financed)
  • Number of drivers (including owner-operators)
  • Years of experience in the industry

1.8 Section VI: Collateral/Security

For hotshot equipment loans, the collateral is the truck and trailer themselves:

  • Equipment description (year, make, model, VIN)
  • Estimated value
  • Existing liens (if any)
  • Owner of equipment (business vs. personal)

1.9 Section VII: Signature/Certification

Authorized representative signature (typically the LLC member/officer). By signing, you’re certifying under penalty of perjury that:

  • Information is true and complete
  • Loan proceeds will be used as stated
  • You’re authorized to bind the entity

2. SBA Form 413 — Personal Financial Statement Walkthrough

2.1 What the form does

Per StatementsReady, “SBA Form 413 Personal Financial Statement: Step-by-Step 2026 Guide” (updated May 26, 2026), SoFi, “How To Fill Out SBA Form 413” (Feb 10, 2026), and the official form at sba.gov/document/sba-form-413-personal-financial-statement.

OMB Approval No.: 3245-0188. Lenders participating in SBA programs are required to collect Form 413 under SBA SOP 50 10.

2.2 Who must complete

  • Every owner of 20% or more of the borrowing business
  • All general partners (partnerships)
  • All managing members (LLCs)
  • Any guarantors of the loan (even non-owners)

For hotshot: you (100% LLC owner) and your spouse if your state is a community property state and your spouse is a co-borrower or guarantor.

2.3 Recency requirement (critical)

Per StatementsReady: “The form must be dated within 120 days of submission for a 7(a) or 504 application (90 days for Disaster loans).”

If you pull bank statements on Jan 1 and submit the application March 15: the form is dated Jan 1 but more than 120 days old. You’ll be asked to update.

For active SBA loans, lenders typically require annual refresh within 90 days of the lender’s review date.

2.4 Section 1: Personal Information

  • Full legal name (as on government ID)
  • Residence address (physical home, not PO box)
  • Business name (legal entity name of borrower — not DBA)
  • SSN — required for credit check
  • DOB
  • Marital status

2.5 Section 2: Assets (what you own)

Sum of all checking, savings, money market, and CD balances as of the statement date (use the statement closing balance, not the current online balance):

  • Cash on hand & in banks: checking, savings, money market
  • IRA & other retirement accounts: 401(k), IRA, Roth IRA, SEP-IRA, pension plans (full current balance)
  • Accounts & notes receivable: money owed to you personally (personal loans you’ve made, judgments in your favor). NOT amounts owed to your business — those belong on the business balance sheet.
  • Life insurance (cash surrender value): NOT face value. Whole life / universal life — request from insurer. Term life = $0.
  • Stocks & bonds: current market value of brokerage accounts, individual stocks, mutual funds. Use date of statement, not “approximately current.” Schedule B if 4+ holdings.
  • Real estate: primary residence, investment properties, land. Use current market value (appraisals will verify). Schedule C if 3+ properties.
  • Automobiles: current market value (KBB trade-in, not retail).
  • Other personal property: jewelry, art, collectibles, boats, RVs.
  • Other assets: business interests, IP, anything else.

2.6 Section 3: Liabilities (what you owe)

  • Accounts payable: bills you owe to vendors/service providers
  • Notes payable to banks: personal loans, lines of credit
  • Installment accounts: auto loans, personal loans, student loans (monthly payment + balance + maturity)
  • Loans on life insurance: loans against your policy
  • Mortgages on real estate: primary residence, investment properties
  • Unpaid taxes: federal, state, local, property taxes owed (not just current year)
  • Other liabilities: credit card balances, medical debt, etc.

Schedule A: Notes Payable overflow if 5+ items.

2.7 Section 4: Contingent Liabilities

Loans you’ve co-signed or guaranteed for others. Do not omit these. SBA will check.

2.8 Section 5: Sources of Income (annual)

  • Salary: W-2 income from employment (including off-trucking jobs held during hotshot startup)
  • Net investment income: dividends, interest, capital gains
  • Real estate income: rental income
  • Other income: business distributions, royalties, alimony, child support, social security, pension

2.9 Section 6: Real Estate Owned (Schedule C if 3+)

For each property:

  • Address + property type (primary residence, rental, commercial, land)
  • Date acquired (list actual purchase date, regardless of how long ago)
  • Original cost
  • Current market value (be realistic — appraisals will verify)
  • Mortgage balance + monthly payment
  • Status (current / past due / foreclosure)
  • Rental income (if applicable)

For inherited property: use date received, not date of death.

2.10 Section 7: Stocks & Bonds (Schedule B if 4+)

For each holding:

  • Number of shares
  • Name of security (company name or fund)
  • Cost (what you paid)
  • Current market value (date quoted)
  • Total value

2.11 Section 8: Signature + Date + Notes Payable (Schedule A)

Sign and date. By signing, you certify under penalty of perjury that the information is true and complete.

Knowingly false statements = federal crime under 18 U.S.C. §1001: fines up to $250,000, imprisonment up to 5 years. Per StatementsReady: “Honesty is non-negotiable.”

2.12 Common mistakes that delay SBA approval

Per StatementsReady and SoFi:

  • Dating the form wrong: make sure statement date matches the date on your bank statements
  • Inflating asset values: SBA lenders run AVMs (automated valuation models) on real estate; mismatched values raise red flags
  • Omitting contingent liabilities: co-signed loans for relatives must be listed
  • Listing business assets on the personal form: business equipment goes on the business balance sheet, not Form 413
  • Incomplete Schedule A/B/C: if you have 5+ notes payable, attach Schedule A — don’t cram them on the main form
  • Wrong marital status handling: in community property states (AZ, CA, ID, LA, NV, NM, TX, WA, WI), marital assets/liabilities are typically jointly listed regardless of titling
  • Spouse signature: even if not filing separately, many SBA lenders still ask spouses to sign as a guarantor

2.13 Negative net worth?

Per StatementsReady: “A negative net worth does not automatically disqualify you from an SBA loan, but it raises underwriting concerns. Lenders will weigh business cash flow, collateral, and other guarantors.” Honest disclosure is mandatory.

3. Broker Certificate of Insurance (COI) Requirements — by Lane Type

3.1 What brokers actually check (per Logrock “Hot Shot Trucking Cargo Insurance Requirements 2026”)

Per Logrock, “Hot Shot Trucking Cargo Insurance Requirements (2026): Limits, Exclusions, and Broker Rules” (May 10, 2026):

“Most brokered hot shot freight in 2026 is tendered only after a carrier shows Motor Truck Cargo limits in the 50,000-250,000 range on a certificate of insurance (COI), even though cargo limits aren’t set by one nationwide ‘cargo law.’”

When a broker kicks your setup back, it’s usually not because you’re a bad operator — it’s because your cargo limit, deductible, or COI wording doesn’t match their packet.

3.2 The four things brokers check on COI

  1. Cargo limit matches the commodity value
  2. Deductible matches the broker’s max (usually 1,000 or 2,500; high deductibles cause rejection)
  3. Dates — policy is in force when the load moves
  4. Insured name — must match the legal name on the MC authority (not a DBA, not a personal name)

3.3 FMCSA insurance filing forms (the federal layer under all COI)

Per Logrock, “Commercial Hotshot Insurance (2026): Coverage Requirements”, Coast Transport Insurance, “Stockton Trucking Filings: BMC-91X & MCS-90”, and FMCSA Insurance Filing Requirements:

For interstate hotshot carriers operating under their own authority:

  • MC Number (your interstate operating authority)
  • BMC-91X (or BMC-91) — proof of insurance filing with FMCSA
  • MCS-90 endorsement — attached to the liability policy
  • BOC-3 — designation of process agents

Form difference:

  • BMC-91: single insurer for the entire liability policy
  • BMC-91X: multiple insurers (primary + excess layer). More common for hotshot owner-ops who use commercial broker (Logrock-style) that bundles primary + excess.

MCS-90 is the federal public-protection endorsement attached to the liability policy. Per Logrock, “MCS-90 Endorsement (2026): Covers + Filing Steps” (May 9, 2026):

  • “Tied to liability judgments — NOT physical damage, cargo, or your injuries”
  • “If a final judgment happens and your liability policy won’t pay for certain reasons, MCS-90 can require the insurer to pay up to the federal minimum — then the insurer may pursue reimbursement from the motor carrier”
  • Reimbursement is the hidden risk

3.4 Lane-specific COI requirements

Lane type Typical cargo Common limit Special endorsements
Hotshot (general freight) Construction equipment, pallets, machinery 50K-250K Standard motor truck cargo
Reefer (produce / food) Produce, frozen foods, pharmaceuticals 250K-1M Refrigeration breakdown coverage (reefer unit failure) + temperature-log records required at claim time
Flatbed (steel / lumber / machinery) Steel coils, lumber, heavy machinery 100K-250K Load securement requirements (chains, binders, tarps); theft conditions; open-deck exclusions matter
Dry van (general freight) Packaged goods, retail 50K-100K Standard; minimal special endorsements
Car-haul Vehicles on trailer 250K-500K Garagekeepers coverage (for vehicles in your care/custody); higher cargo limit because each car is 20K-50K
Tanker (liquid bulk) Fuel, chemicals, food-grade liquids $1M+ Specialized coverage; often requires hazmat endorsement
Hotshot oilfield Pipe, frac sand, equipment 100K-500K Often requires additional-insured endorsements for the operator

Per Coast Transport: “Compton’s industrial base moves metals, textiles, technology goods, and distribution freight, and higher-value or time-sensitive loads generally require higher Motor Truck Cargo limits — reefer produce lanes may also need refrigeration-breakdown protection.”

3.5 COI checklist before submitting to a broker

Per Logrock:

  • Insured name matches MC authority legal name
  • Cargo limit ≥ broker’s minimum (most hotshot brokers want $100K+)
  • Deductible ≤ $2,500 (high deductibles cause rejection)
  • Policy dates in force when load moves
  • MCS-90 endorsement listed
  • BMC-91X filing ID listed (or BMC-91)
  • Additional insured endorsements if broker requires (most large brokers do)
  • Waiver of subrogation (some brokers)
  • 30-day notice of cancellation/non-renewal (most brokers)

3.6 Common exclusions that break hot shot claims

Per Logrock “Hot Shot Trucking Cargo Insurance Requirements 2026”:

  • Theft conditions — “unattended vehicle” language can void claims if you leave the truck with keys in it
  • Open-deck exclusions — flatbed/hotshot gear can be denied for theft-from-open-trailer if you didn’t use proper securement
  • Refrigeration breakdown — reefer lanes need this endorsement separately; standard cargo policy doesn’t cover reefer unit failure
  • Mysterious disappearance — most cargo policies exclude this; you need separate inland marine for theft without forced entry
  • Wear and tear / inherent vice — standard exclusions; can’t claim for damage caused by the cargo’s own characteristics

3.7 How to get broker-required COI same-day

Per Coast Transport (Compton location):

“What most brokers/shippers require: $1,000,000 Auto Liability. Certificates of Insurance: Same-day service — most within 2 hours.”

Most commercial truck insurance brokerages (Logrock, Coast Transport, etc.) issue COIs same-day once you’re bound. Don’t apply to loads before you have a binder receipt — brokers will reject without a current COI.

4. The full hotshot COI packet — what it should contain

4.1 Page 1: Acord 25 Certificate of Insurance

Standard insurance industry form. Shows:

  • Producer (your insurance broker name + address)
  • Insured (your legal LLC name + address — MUST match MC authority)
  • Insurers (multiple carriers listed A, B, C if multi-layered)
  • Policy numbers + effective dates + limits for each coverage
  • Coverages listed: Auto Liability, Auto Physical Damage, Motor Truck Cargo, General Liability, etc.
  • Description of operations / locations / vehicles (the “remarks” section)
  • Certificate holder (the broker name + address — broker needs to be listed as certificate holder)
  • Cancellation clause

4.2 Page 2: Auto Liability policy declarations

  • Named insured: your LLC
  • Policy number
  • Effective dates
  • Limits: $1,000,000 CSL (Combined Single Limit) — most brokers
  • Coverage form: occurrence vs. claims-made (occurrence is standard)
  • Endorsements: MCS-90 must be listed; blanket additional insured; primary/non-contributory if required
  • Exclusions: nuclear, asbestos, pollution (standard)
  • Premium: confidential but listed
  • Vehicle schedule: year/make/VIN of all covered vehicles

4.3 Page 3: Cargo policy declarations

  • Named insured: your LLC
  • Effective dates
  • Limit: $100K per occurrence (hotshot minimum); higher for higher-value freight
  • Deductible: 1,000-2,500 (anything higher causes broker rejection)
  • Coverage territory: 48 states + Canada typical for hotshot
  • Commodity coverage: specify general freight; add refrigeration breakdown if reefer lanes
  • Special exclusions: theft conditions, open-deck, mysterious disappearance

4.4 Page 4: Physical damage / bobtail / general liability (if bundled)

  • Physical damage: collision deductible + comprehensive deductible; stated amount or actual cash value
  • Bobtail/non-trucking: coverage triggers when truck is operated without trailer for personal use
  • General liability: 1M per occurrence / 2M aggregate typical

4.5 Page 5+: Endorsements

MCS-90 endorsement is THE critical one. Other endorsements to include:

  • Blanket additional insured (if broker requires)
  • Primary and non-contributory (if broker requires)
  • 30-day notice of cancellation
  • Waiver of subrogation
  • Refrigeration breakdown (reefer)
  • Garagekeepers (car-haul)

5. What brokers actually look at — the 30-second COI check

When a broker receives a carrier packet with your COI, they scan for:

  1. Insured name matches MC authority (5 sec) — most disqualifications
  2. Auto liability limit (1M most common) — sub-1M = rejected
  3. MCS-90 endorsement listed — missing = no federal authority = no freight
  4. Cargo limit (matches commodity) — sub-$50K = rejected on most freight
  5. Policy dates in force — expired = no coverage
  6. Certificate holder section — broker must be listed there
  7. 30-day cancellation clause — broker wants notice if you lose coverage

If those 7 things pass, the load is yours. If any fails, the broker moves to the next carrier on the load board.

6. Sources (Part 7)

SBA Form 1919 + Form 413 walkthrough

  1. LegalClarity — SBA Form 1919: Borrower Information Form Instructions (May 18, 2026)
  2. SBA.gov — SBA Form 1919 (official PDF, Jul 2024)
  3. SigPen — SBA Form 1919: Borrower Information Form
  4. StatementsReady — SBA Form 413 Personal Financial Statement: Step-by-Step 2026 Guide (May 26, 2026)
  5. SoFi — How To Fill Out SBA Form 413: Step-by-Step Guide (Feb 10, 2026)
  6. StatementsReady — How to Fill Out SBA Form 413: A Section-by-Section Guide
  7. FitSmallBusiness — Ultimate Guide to SBA Form 413
  8. SBA.gov — Personal Financial Statement (Form 413) official page (Feb 13, 2025)
  9. BestTruckingLoans — SBA 7(a) Loan Application Guide for Trucking Businesses (2026)

Broker COI by lane

  1. Logrock — Hot Shot Trucking Cargo Insurance Requirements (2026): Limits, Exclusions, and Broker Rules (May 10, 2026)
  2. Logrock — Hot Shot Owner-Op Insurance: 2026 Costs (May 9, 2026)
  3. Logrock — MCS-90 Endorsement (2026): Covers + Filing Steps (May 9, 2026)
  4. Logrock — Commercial Hotshot Insurance (2026): Coverage Requirements
  5. Coast Transport Insurance — Compton Commercial Truck Insurance
  6. Coast Transport Insurance — Stockton Trucking Filings: BMC-91X & MCS-90
  7. FMCSA — Insurance Filing Requirements (Mar 26, 2026)
  8. FMCSA — Form MCS-90 Endorsement for Motor Carrier Policies (Nov 25, 2025)
  9. My Full Coverage — MCS-90 Endorsement: What It Is and Who Needs It (2026)
  10. FleetGuard USA — What Insurance New Hotshot Drivers Need in 2026
  11. DAT — Hotshot Cargo Insurance
  12. East Insurance Group — Owner Operator Insurance
  13. eCFR — 49 CFR §387.15 (MCS-90 endorsement regulation)

Federal regs primary (per Part 1-3)

  1. eCFR 49 CFR Part 376
  2. eCFR 49 CFR §387.9 (minimum insurance)
  3. eCFR 13 CFR §120.10 (SBA associate definition)
  4. Cornell LII — 18 U.S.C. §1001 (false statements)

HR 5423 / LPA context (per Part 4)

  1. Land Line — More than 200K truck drivers affected (Oct 30, 2024)
  2. GovTrack — H.R. 5423

7. Verification Notes (Part 7)

  • SBA Form 1919 — official PDF at sba.gov verified; LegalClarity instructions cross-referenced. Form 1919 has not expired in practice per multiple 2026 sources (still being accepted).
  • SBA Form 413 — official page at sba.gov (Feb 13, 2025) verified; StatementsReady 2026 guide + SoFi Feb 2026 guide + FitSmallBusiness cross-referenced. 120-day recency rule confirmed across sources.
  • 18 U.S.C. §1001 — federal false statement statute: fines up to $250K, 5 years imprisonment per Cornell LII.
  • NAICS codes for hotshot trucking: 484121 (General Freight Trucking, Long-Distance, Truckload) or 484122 (LTL); size standard $34.5M annual revenue (2026).
  • BMC-91 vs BMC-91X — BMC-91 = single insurer; BMC-91X = multiple carriers (primary + excess). Most owner-ops using commercial broker get BMC-91X. Confirmed via Coast Transport + Logrock.
  • MCS-90 endorsement — federally required under 49 CFR §387.15; tied to liability judgments (NOT cargo, NOT physical damage); reimbursement risk to carrier. Confirmed via Logrock + FMCSA official form page.
  • Cargo limits 50K-250K for hotshot (general freight) per Logrock; 250K-1M for reefer per Logrock “reefer produce lanes”; 100K-250K for flatbed; 250K-500K for car-haul per Coast Transport.
  • NAICS 484121 / 484122 size standard — $34.5M annual revenue per current SBA size standards (verified via SBA size standards table).
  • DOT NAICS lookup — owner-operators should verify their NAICS matches their actual operations. Misclassified NAICS = ineligible SBA loan.
  • Community property states for SBA Form 413 — AZ, CA, ID, LA, NV, NM, TX, WA, WI per StatementsReady. Hotshot driver in any of these states needs to handle marital property carefully.
  • This is research, not legal, tax, or financial advice. For actual SBA application, consult a transportation-experienced SBA lender, CPA, and transportation attorney.

8. TL;DR table

Question Answer
SBA Form 1919 — what is it? Borrower Information Form. Gateway document for SBA 7(a).
Who fills out 1919? 20%+ owners, general partners, managing LLC members, all guarantors
SBA Form 413 — what is it? Personal Financial Statement for SBA 7(a)/504/microloan/disaster
Recency on Form 413? Within 120 days of submission (90 for disaster)
Penalty for false SBA statements? Federal crime, up to $250K + 5 years (18 U.S.C. §1001)
Hotshot NAICS? 484121 (truckload) or 484122 (LTL)
Hotshot SBA size standard? $34.5M annual revenue (2026)
MCS-90 covers? Public liability judgments only (NOT cargo, NOT physical damage, NOT your injuries)
MCS-90 reimbursement risk? YES — insurer can pursue carrier after payout
BMC-91 vs BMC-91X? BMC-91 = single insurer. BMC-91X = multiple carriers (primary + excess). Most owner-ops: BMC-91X.
Broker COI check 30 sec? Insured name matches MC. 1M auto. MCS-90 listed. Cargo limit ≥ 50K. Dates current. Broker listed as cert holder. 30-day cancellation clause.
Hotshot typical cargo limit? 50K-250K
Reefer cargo limit? 250K-1M + refrigeration breakdown endorsement
Car-haul cargo limit? 250K-500K + garagekeepers coverage
Most common COI rejection cause? Wrong insured name (DBA vs legal LLC) — 5-second broker check fails

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