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!
A Business Loan With Bad Credit – Is it Really Possible?
First Choice Business Capital can help you acquire the bad credit business loans you need to keep your business in Compton, CA, afloat, even when you have less than stellar credit. We know it can be so frustrating trying to get a traditional loan from a bank when your credit score is below average.
Business Loans With Bad Credit, Truth or Fiction?
Recent studies show, an extraordinary 70% of businesses doesn’t qualify for a bank loan. Businesses with bad credit are denied loans more often than not and bad credit can be the main reason for many denials.There might also be tax liens against the company, and court judgments can affect the outcome, too.
Working capital is the foundation on which a company operates.Since the market collapse of 2008, it has become significantly difficult for profitable businesses to get a bank loan. From that time on, gaining access to capital has become a hardship due to new regulations. The ones affected are the small and medium-sized entities, those employing fewer than 50 workers. This situation is a burden to those needing funding, but it has opened the doors for alternate finance companies to step in to provide much-needed options.
There are solutions for business cash advances from financial institutions like First Choice Business Capital. We provide practical financing and offer a quick approval process. We even offer 24-hour approvals! It really is true that businesses with subprime credit can get the money they need. When traditional routes fail, back-up loan providers can deliver assistance.
Compton Bad Credit Business Loan Options
What most businesses don’t realize is that unsecured short-term loans are quite easily obtainable to them! Unsecured short-term loan options do exist for companies in your situation! Even with bad credit and no collateral, you can get approval for business loans with poor credit as quickly as tomorrow. First Choice Business Capital commonly 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.
Business Cash Advances, Short-Term Loans and Unsecured Loans
You may have heard of these types of alternative lending options, which are also known as merchant cash advances or MCAs. When conservative options do not work due to lack of great credit, these poor credit business loans can be a terrific advantage for a company in terrible need of funding. If you’re a business with bad credit, you don’t need to have collateral. This makes the approval process even easier! We only require that your business has been operational for three months minimum and that you transfer between 8-10 thousand dollars monthly.
Perks of Merchant Cash Advances
There are quite a number of advantages to MCAs. Merchant cash advances offer many benefits to all kinds of companies. One of the biggest advantages of a loan of this sort is how quickly it is funded; it is incredibly fast in comparison to a loan from a bank. As much as 90 percent of these loans are approved. And finally, these loans are generally funded in 48-96 hours after approval.
You do not have to go through a prolonged loan process, either. The procedure is easy. The application form is only one page. Have your business’ last six months of bank statements ready, too. With this data, we can work on approving you very fast. If you need a bad credit business loan fast, a merchant cash advance could be just the solution you are looking for. When your business is halting caused by a lack of cash flow, this short-term business loan can get you the money you desperately need. These loans have a fixed capital cost and run from 4-18 months. Daily payments are made five days per week, not counting Saturday or Sunday. For a merchant cash advance, there are usually between 20 and 22 payments every month.
With What Type of Businesses Can We Team up?
A variety of businesses qualifies for short-term business loans bad credit. Merchant cash advance companies like to work with all sorts. The list below is a small number of the types of businesses we like to hear from: Automotive/Mechanic Repair work Shops, Auto Body Repair and Painting, Clubs and Restaurants, Beauty Shops, Carpentry, Building and construction, Driveway and Parking Pavement, Fuel Service Stations, General Building Contractors, Home Health Solutions, HVAC, Interior Decorators, Brickwork and Stone, Pest Control, Rigging and Scaffolding, Tire Shops, Trucking, Water Well Drilling, Wrecking and Demolition companies and more. There are more company particular niches that can be serviced with business loans with bad credit. If you meet the criteria we pointed out previously, First Capital can work with you.
Are You in One of These States? We Can Help!
Merchant cash advances are available in the market to business organizations in the following states: Alaska, Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wyoming and Wisconsin.
Only Deal with Dependable Bad Credit Business Loan Brokers
Unethical companies in this industry prey on those looking for bad credit small business loans. Considering this, it is vital to ensure that you only deal with reputable brokers. You have to navigate the many different lending institutions carefully.. Borrowers have unintentionally been declined in the past due to erroneous information being given by intermediaries to their lender of choice.
A good brokerage house can get businesses funded by thoroughly understanding the underwriting process of the different lenders available to them. You will also want to ensure the brokerage firm is not showing your deal to a wide variety of lending institutions. A borrower’s credit score can be adversely affected when the application is shopped around to multiple lenders. This is why it is imperative that you work with an alternate lending company like First Choice Business Capital for your business loans when you’re credit rating is short of stellar.
Call Us Right Away for Your Bad Credit Business Loan Needs
It takes a long time for your credit score to improve. Why linger? Keep your personal belongings — you don’t have to worry about not having enough collateral. Call us today or fill in the short online application to get the process started right now!