Bad Credit Is OK! – No Startups!
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How To Get a Business Loan in Elk Grove, CA, with Bad Credit
First Choice Business Capital concentrates on providing fast and convenient bad credit business loans Elk Grove, CA, for all kinds of businesses with bad credit.At First Choice, we realize how difficult and disheartening it can be if you have a bad credit score and you’ve been getting declined from old-school banks for finances. That’s why we have committed ourselves to making business-funding alternatives available in the market to all business organizations regardless of a bad credit history.
The Facts About Getting a Business Loan with Bad Credit
If you feel as if you are alone in this predicament, you may be surprised to know that you are not. Recent studies have even shown that less than a third of businesses could be approved for a loan from a traditional banking institution. Businesses with bad credit get denied for loans more often than not. Loans are denied all of the time, and this can occur for many reasons. Subpar credit is often cited in these cases. A company may have a court judgment against it, or there may be tax lien issues.
Being turned down by a bank is often disheartening, and many businesses simply give up after hearing “no.” We all know that without working capital, a business will fail. Keeping the doors to a business open requires capital.Since the market crash of 2008, it has become tremendously difficult for profitable businesses to get a bank loan. New regulations put into effect after the economic crash has made acquiring capital nearly impossible. The ones That feel the impact 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 financial institutions to step in to provide much-needed options. High-risk lenders like First Choice Business Capital can easily provide quick approvals and no-nonsense funding solutions. No matter what you may have heard, it is certain that there are other options available for businesses besides standard banks, when credit is a problem.
Business Loan Options Bad Credit in Elk Grove
It is a shame that many individuals do not know their options. Uncollateralized loans are available to small, medium and large businesses with bad credit. There are still loans provided for your needs. That is positively correct. You can get hold of business loans with poor credit. Furthermore, you can get bad credit business loans fast. What’s even better is that you can get bad credit business loans fast. Some alternative finance companies offer bad credit business loans fast, like First Choice Business Capital, which is honored to offer loans in just 24 hours in many cases. Looking for small business loans bad credit? Yup! When a business needs working capital, it needs it now. First Choice recognizes this need and offers easy approvals.
Business Cash Advances, Unsecured Loans and Short-Term Loans
You may have heard of these types of alternative lending options, which are also known as merchant cash advances or MCAs. Poor credit business loans are a true lifesaver for those companies that have been turned down by banking organizations because of their credit score. These alternative loan solutions are easy for which to qualify, since no collateral is involved. We provide customized business financing in all types of industries. If you have deposited roughly 8 to 10 thousand dollars every month for the last three months, and have been functional for at least that amount of time, we can help you !
Advantages of Merchant Cash Advances
There are quite a few advantages to MCAs. One of the biggest advantages of a loan of this sort is how quickly it is funded; it is remarkably fast in comparison to a loan from a bank. You can be approved for this type of loan in only one day. The loan process is simple and easy, too. All that is requested to be submitted is one simple page. Also, the last 6 months of your business bank statements because with this information, we can work to approve your loan application quickly.
A merchant cash advance can be just what you need, if you have been refused by your bank because of poor credit.They are short-term business loans and usually run from 4 to 18 months with a fixed cost of capital. 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 Collaborate?
All sorts of companies can get short-term business loans bad credit. First Choice loves to help all kinds of companies. Some of the most common niches include: Automotive/Mechanic Maintenance and repair Shops, Auto Body Repair and Painting, Pubs and Restaurants, Beauty Shops, Carpentry, Development, Driveway and Parking Pavement, Gasoline Service Stations, General Building Contractors, Home Health Providers, HVAC, Interior Decorators, Brickwork and Stone, Pest Control, Rigging and Scaffolding, Tire Shops, Transportation, Water Well Drilling, Wrecking and Demolition companies and more. Business loans with bad credit can be had by these companies and many more. First Choice can help any business that meets the qualifying criteria and has credit woes.
States Where We Consult
Merchant cash advances are offered to business entities 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.
Dependable Bad Credit Business Loans Company
For companies with subpar credit looking to secure a bad credit small business loans, always check the reputation of the agent. You should be careful, as browsing through all the different lending institutions can be a little bit tricky. It is unfortunate when a borrower is declined because of a broker providing inaccurate relevant information to a lender. A respectable brokerage house should have extensive knowledge of the industry. It should know the best way to get businesses financed by the lenders available to it, and it should have a thorough knowledge of the process.
Brokers may also be able to syndicate deals, meaning more funding for your company. That being said, you want to see to it your loan application is not shopped around. When your credit rating is subpar, the very last thing you really want is it being lowered even more because of your broker’s actions. When an application is shopped around, it can damage your credit score even more. Choosing a trustworthy alternative lending institution, like First Choice Business Capital, will protect you from this
Call Today for Your Bad Credit Business Loan
There is no need to wait for your credit score to increase to apply for a business loan. Keep your personal belongings — you don’t have to worry about not having enough collateral. Call us right now or fill out the short online application to get the process started right now!