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!
How To Get a Business Loan in Gilroy, CA, with Bad Credit
Are you trying to find bad credit business loans in Gilroy, CA? If you want an instantaneous and hassle-free choice, First Choice Business Capital can serve you today! Here at First Choice, we understand the distress and stress that loan denials from traditional banks can cause.Traditional banks often say no to funds to businesses that do not have good credit, which causes much frustration to the owners. We understand your pain. Regardless of a bad credit history, we can have many business funding options available, such as cash advances, short-term loans and much more.
Get a Business Loan Even If You Have Low Credit
Studies have shown that approximately 70 percent of companies will not qualify for traditional bank loans. So if you have been denied, you are in the majority.Loans are denied all of the time, and this can occur for many reasons. Inadequate credit is often cited in these cases. A company could also have tax liens or judgments against it.The core of every business is its capital, but businesses with bad credit in most cases give up after they are declined for a bank loan.
When the economic climate tanked in 2008, businesses suffered. Since then, getting a bank loan has become much more challenging. New requirements have cut access to capital for many businesses. The regulations apply to small and medium-sized entities. This means that those companies with fewer than 50 employees are the ones affected. While this is a step in the wrong direction, it has opened up a new market for those specializing in alternative funding options.
There are choices for business cash advances from companies like First Choice Business Capital. We provide no-nonsense loans and offer a quick approval process. So, despite of what you may have heard, businesses with bad credit can quite easily get the funding they need by leveraging the various alternative-lending choices available to them.
Options Are Available in Gilroy, CA, for Bad Credit Business Loans
It is a shame that many people do not know their options. Uncollateralized loans are accessible to small, medium and large size businesses with bad credit. That’s right, you can get business loans with subpar credit. You can get approved for the business loans with poor credit you need, as quickly as tomorrow.Business loans for bad credit are given for all sorts of businesses in Gilroy. 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 business are searching for working capital, they commonly need it as quickly as possible, which is why we pride ourselves on getting fast approvals with an incredibly high percentage approval rate for businesses that apply for a business loan.
Business Cash Advances, Unsecured Loans and Short-Term Loans
These types of offerings are known as merchant cash advances (MCAs). These poor credit business loans are sometimes the only thing standing between a company continuing to be open or closing for good. These poor credit business loans are great for the majority of businesses that just can’t get more traditional financing due to their bad credit history.If you’re a business with horrible credit, you don’t need to have collateral. There are funding options for all sorts of companies; so no matter what business sector you are in, we can help. The only criteria we need is for your business to be older than three months and that you normally deposit at least eight thousand dollars every month.
Merchant Cash Advantage Perks
MCAs offer many advantages to all kinds of companies like yours. A key example of one of these advantages is how quickly a merchant cash advance is financed. Where traditional banks can take a long time, an MCA can be approved and paid in only a fraction of the time. The approval rate for these loans is incredible. In fact, over 90 percent of applications are approved! What’s the best part? The moment you are approved, you will have the cash you need within 48-96 hours.
You do not have to go through a lengthy loan process, either. The procedure to get approved is easy, too. The application form is only one page and have your business’s last six months of bank statements ready, too. We can work to approve your loan application when this important information is provided.A merchant cash advance can be just what you need if you have been declined by your bank as a result of poor credit. These loans are considered short-term business loans. The loans have a fixed cost of capital. They usually are paid within four months to a year and a half.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.
Some Businesses We Collaborate with
Short-term business loans bad credit can be secured by many types of businesses. A merchant cash advance company like First Choice will not discriminate based on business type. There is a vast range of businesses that merchant cash advance companies like to work with. Some of the most common niches include: Beauty Shops, Tire Shops, Carpentry, Construction, Masonry and Stonework, Driveway and Parking Pavement, HVAC Systems, Gasoline Service Stations, General Building Contractors, Automotive/Mechanic Repair Shops, Wrecking and Demolition companies, Car or truck Body Repair and Painting, Home Health Services, Interior Decorators, Pest Control, Nightclubs and Restaurants, Rigging and Scaffolding, Water Well Drilling and Trucking. These industries and more are suited for business loans with bad credit. As you discovered before, the application process is easy and the criteria minimal. If you have credit difficulties affecting your ability to obtain a loan, First Capital can help.
States where We Do Business
Merchant cash advances are readily available 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.
Work Only with Professional Bad Credit Business Lenders!
It is vital to only work with reputable suppliers when trying to secure bad credit small business loans. It may be quite challenging working out which institution to go with, and they are numerous. Perform your due diligence while you wade through the loan choices that are available. It is unfortunate when a borrower is declined because an agent provided incorrect info to a lender. It is extremely important that the brokerage firm has an in-depth understanding of the underwriting process. It has to know its lenders well and be able to guide the borrower through the process.
Brokers may also be able to syndicate deals, meaning more funding for your company. That being said, you want to confirm that your loan application is not shopped around. When your credit rating is below average, the very last thing you really want is it being lowered even more because of your broker’s actions. Choosing a reputable alternate lending company goes a long way in making sure this does not occur. First Choice Business Capital knows this, and would refrain from doing anything to hurt our client’s credit further.
If You Need a Bad Credit Business Loan, Call Us Now
It takes a long time for your credit score to improve. Why stall? Keep your personal belongings — you don’t have to worry about not having enough collateral. Call us right now or complete the short online application to get the process started right now!