Bad Credit Is OK! – No Startups!
Our 2-minute application saves you a lot of time, as does our 24-hour approval process. We collect only the information we need, and get you approved and funded quickly. If you need a business loan fast, simply simply fill out the pre-approval form above now!
Can I Get a Business Loan in Alhambra, CA With Bad Credit?
Are you seeking out bad credit business loans in the Alhambra, CA area? If you want a swift and hassle-free resolution, First Choice Business Capital can serve you today! Here at First Choice, we understand the pain and unnecessary aggravation caused by being denied for loans from traditional banks. We know trying to get a traditional bank loan when your credit score is poor can be frustrating.
Business Loans with Bad Credit – What You Need To Know?
The majority of companies today cannot get accepted for bank loans. In fact, studies have shown that only 30 percent of businesses would get approval! Banks deny loans for many reasons, but one of the main reasons cited is bad credit. Getting rejected is disheartening, and many companies give up their hopes for a loan once the bank denies them.
The core of every business is its capital. When a company does not have easy access to cash, it is not going to be able to stay in business long at all.In 2008, the economic situation caved in, and since then, even those companies that are making money have had a hard time securing bank loans. New regulations implemented after the economic crash has made securing capital nearly impossible.To complicate matters, these regulations apply to “Mom and Pop” type operations that have fewer than 50 employees.
Alternative financial institutions, like First Choice Capital, are here to solve this issue. At First Choice Capital, we focus on high-risk funding for those businesses that are affected by these regulations. Lending options for businesses with below average credit are not just a pipe dream.
Options Are Available in Alhambra, CA for Bad Credit Business Loans
First Choice Business Capital normally funds loans within 24 hours. Yes, just one day! Small business loans bad credit – really? Yes, you’re really not dreaming! You don’t need the money next week. You need it now!First Choice understands that when a business is looking for working capital, it ordinarily needs that capital as quickly as possible This is why we pride ourselves on getting easy approvals with an incredibly high percentage approval rate for companies that apply for a business loan.
Business Cash Advances, Unsecured Loans and Short-Term Loans
Merchant cash advances like this are also referred to as MCAs. When a conventional bank turns down a loan, an MCA can provide the money required to stay running. Qualifying for one of these options and the approval process itself are easy, since no collateral is entailed.If you have deposited about 8-10 thousand dollars every single month for the last three months, and have been functional for at least that amount of time, we can help you!
Perks of Merchant Cash Advances
MCAs offer numerous benefits and advantages to all kinds of companies like yours. One of the biggest perquisites of these types of loans is that, as specified earlier, it offers amazingly fast funds, compared to that of a traditional bank. You can be approved for this type of loan in only one day. You will not need to wait long for your money, either; most loans are funded less than four days after approval.
The procedure to get approval is easy, too. The application form is only one page and you should have your business’s last six months of bank statements ready, too. A merchant cash advance is a short-term business loan and is an ideal solution for companies that need cash right away. They often run from 4-18 months and these loans have a fixed cost of capital. You can make your payments by the day or by the week. Daily payments are received each business day. An MCA usually has 20-22 payments each month.
With What Kind of Businesses Can We Team Up?
Short-term business loans bad credit are available in the market to a wide range of businesses. Small, medium and large businesses qualify for unsecured short-term loans. Here are just a few with whom we have worked: Automotive/Mechanic Repair Shops, Wrecking and Demolition, Auto Body Repair and Painting, Water Well Drilling, Taverns and Restaurants, Trucking, Beauty Shops, Tire Shops, Carpentry, Rigging and Scaffolding, Construction, Pest Control, Driveway and Parking Pavement, Masonry and Stone, Gasoline Service Stations, Interior Decorators, General Building Contractors and Home Health Companies. Many more industries can be serviced with business loans with bad credit. If you meet the criteria we pointed out previously, First Capital can work with you.
States We Can Assist!!
If your business is in one of the following states, we may be able to help you with a cash advance: Wisconsin, Wyoming, West Virginia, Washington, Virginia, Vermont, Utah, Texas, Tennessee, South Dakota, South Carolina, Rhode Island, Pennsylvania, Oregon, Oklahoma, Ohio, North Dakota, North Carolina, New York, New Mexico, New Jersey, New Hampshire, Nebraska, Nevada, Montana, Missouri, Mississippi, Minnesota, Michigan, Massachusetts, Maryland, Maine, Louisiana, Kentucky, Kansas, Iowa, Indiana, Idaho, Illinois, Hawaii, Georgia, Florida, Delaware, Connecticut, Colorado, California, Arkansas, Arizona, Alabama and Alaska.
You Should Only Consult with Credible Bad Credit Business Loan Brokers
When looking to get bad credit small business loans, be sure that you are dealing with a credible broker. You see, not every company in the business of offering subprime loans will have your best interest in mind. Therefore, it is best to perform your due diligence. It is unfortunate when a borrower is declined because a broker has provided incorrect information and facts to another lender.
It is extremely important that the brokerage firm has an in-depth understanding of the entire underwriting process. They have to know their lenders well and be able to guide the borrower through the process flawlessly. Brokers may also be able to syndicate deals, meaning more funding for your company. On top of that, you want to be sure your loan application is not shopped around to lots of lenders. When your credit rating is below average, the very last thing you want is your credit rating to get lowered even more because of your inexperienced broker’s activities. That’s why you want to choose a legit company like First Choice Business Capital to guarantee this does not happen.
Got Bad Credit Business Loan Needs? Call Us!
Many companies cannot wait until their credit score gets better to start searching for business loans. When you apply for business loans for insufficient credit with First Choice, there’s no need for collateral. You can get started right away by completing the simple form that’s available online, or give us a call today!