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 Probable?
Are you trying to find bad credit business loans in East Los Angeles, CA? If you want a swift and hassle-free answer, First Choice Business Capital can assist you today! Here at First Choice, we understand the distress and unnecessary aggravation that being denied for loans from traditional banks can cause. We understand that having a less than stellar credit score can hamper your chances for a business loan from traditional banks.
Getting a Business Loan With Bad Credit, Fact or Fallacy?
The majority of companies today do not qualify for bank loans. In fact, studies have shown that only 30 percent of businesses would be approved! Businesses with bad credit are declined for by banks for many reasons. Bad credit can be the main one but it could also be tax liens against the company, and court judgments can affect the outcome, too.
Working capital is at the heart of each and every business, and many companies surrender their hopes for a loan once the bank denies them. A business naturally cannot keep its doors open without a cash flow. The economy collapsed almost a decade ago, in 2008. Ever since then, it has become very hard for companies to secure loans.There are new policies in place that make the procedure even more challenging than it was before the collapse.
The ones that feel the impact are the small and medium-sized entities, those employing fewer than 50 workers. However, alternative lenders have stepped in to help solve this dilemma. At First Choice Capital, we focus on high-risk funding for those businesses that are affected by these regulations. Finance options for businesses with bad credit is not just a pipe dream. With alternative lending options available, it is a reality.
East Los Angeles Business Loan Options Bad Credit
Quite possibly you are one of the businesses that are not aware that short-term loan opportunities are easily available. Unsecured short-term loan options do exist for companies in your situation! You can secure business loans with subpar credit. Less than perfect credit does not equal a denial. We offer business loans with poor credit. First Choice Business Capital can not only deliver you the funding you need, but provide bad credit business loans fast. Many times, backing occurs in only 24 hours. You will be putting that money to work faster than you ever thought conceivable! 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 not only has a high approval procedure but a swift one as well. We understand the dire need to obtain the working capital you need. We also know that you need the money now, and pride ourselves in helping you get funded as fast as possible.
Short-Term Loans, Unsecured Loans & Business Cash Advances
Alternate lending options such as these are often referred to as merchant cash advances, or MCAs. When a conventional bank turns down a loan, these can provide the money required to stay running. If you’re a business with bad credit, you don’t need to have collateral. We supply customized business financing in all types of industries. The only requirements are for your business to be older than three months and a typical monthly deposit of at least eight thousand dollars every month.
Perks of Merchant Cash Advances
There are many positive aspects to applying for a merchant cash advance. For one, these loans are funded much more quickly than those from traditional banks. A large number of loans of this type are approved within as little as one day. You will not have to wait long for your money, either; most loans are financed less than four days immediately after approval.
The process to get approved is also easy. The application form is only one page. Have your business’ last six months of bank statements ready, too. With this information, we can work on approving you very fast. If you need a bad credit business loan quickly, a merchant cash advance could be just the solution you seek. These loans are considered short-term business loans. The loans have a fixed cost of capital. And usually are paid back within four months to a year and a half. The payments are made daily or weekly. Daily payment loans are Monday through Friday. MCA loans have between 20-22 daily payments a month.
Some Businesses with Which We Consult
Several company niches can get short-term business loans bad credit. At First Choice, we have assisted almost every kind of company. Here are just a few we have worked with: Automotive/Mechanic Maintenance and repair Shops, Auto Body Repair and Painting, Pubs and Restaurants, Beauty Shops, Carpentry, Building, Driveway and Parking Pavement, Fuel Service Stations, General Building Contractors, Home Health Providers, HVAC, Interior Decorators, Masonry and Stone, Pest Control, Rigging and Scaffolding, Tire Shops, Trucking, Water Well Drilling, Wrecking and Demolition companies and more. Any of these companies and many others can acquire business loans with bad credit. First Choice teams up with any company that is suffering due to bad credit and meets the minimal criteria set forth earlier.
States We Work with!
Merchant cash advances are readily available to business entities in the following states: 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.
Only Work with Reputable Bad Credit Business Loan Brokers
It is critical to only work with reputable companies when trying to obtain bad credit small business loans. It may be quite challenging to figure out which institution to choose, and there are many. Perform your due diligence while you wade through the loan possibilities that are readily available. Sometimes borrowers are unintentionally declined based on brokers having provided the wrong information to the lenders. It is really important that the brokerage firms have an in-depth understanding of the underwriting process.
They have to know their lenders well and be able to guide the borrower through the process. Also, those lenders that can syndicate the deals may even enhance loan amounts. However, you do not want your broker submitting your application to a number of lenders. When an application is shopped around, it can damage your credit score even more. Choosing a trustworthy alternative lending firm like First Choice Business Capital will protect you from this.
Got Bad Credit Business Loan Needs? Call Us!
It takes a long time for your credit score to improve. Why delay? You don’t need to let any business opening pass you by and don’t have to hand over your personal belongings or property to use as collateral for a loan. It is a simple, one-page application. Fill it out online or call us today!
First Choice Business Capital
East Los Angeles, CA, United States
Communities we serve:
Los Angeles, Huntington Park, Santa Monica, East Los Angeles, Montebello, Inglewood, South Gate, Pico Rivera, Whittier, Downey, Hawthorne, Gardena, Compton, Paramount, Norwalk, Thousand Oaks, Simi Valley, Burbank, Glendale, Pasadena, El Monte, Buena Park, Fullerton, Placentia, La Habra, Hacienda Heights, West Covina, Baldwin Park, Yorba Linda, Pomona, Chino, Rosemead, Alhambra, Torrance, Long Beach, Anaheim, Santa Ana, Huntington Beach, Irvine, Lake Forest, Newport Beach, Ontario, Riverside, Corona, Moreno Valley, Lakewood, Costa Mesa, San Bernardino, Redlands, Hemet
90022, 90063, 90023, 90040, 90032, 90640, 91754