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 If I Have Bad Credit?
If you are hoping to get a bad credit business loan in La Habra, CA, First Choice Business Capital can help. At First Choice, we understand how annoying and infuriating it can be if you have a poor credit score and you’ve been denied funding from old-school banks. That’s exactly why we have dedicated ourselves to making business-funding solutions easily available to all business organizations, regardless of a bad credit history.
Business Loans with Bad Credit, Truth or Myth?
The majority of companies today do not qualify for bank loans. In fact, studies have shown that only 30 percent of businesses would get approved! We pride ourselves in helping companies get the funds they need, no matter what their credit histories look like, and we offer many options. Poor credit alone is one of the fundamental reasons that banks deny business loans. Companies may also have a judgment or lien.
Capital is at the soul of every business. Without proper availability to cash, most businesses couldn’t keep their doors open for very long. In 2008, the economic climate crumbled, and ever since, even those companies that are successful have had a hard time securing bank loans. New regulations are in place, as well, that make the task even more challenging than it was before the collapse. These new rules apply to small and medium-sized entities and they mean that those companies with under 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. Business cash advance and high-risk lending institutions such as First Choice Business Capital can provide you with a fast, no-nonsense financing approach and can get you quick approval for your business loan.
La Habra Bad Credit Business Loan Options
Most companies are not aware of the choices available to them. Even unsecured, short-term business loans bad credit are entirely possible. Yes, you can get business loans with poor credit. Business loans for bad credit are our area of expertise and you can get approval for the business loans with poor credit, as soon as tomorrow. Yes, First Choice Business Capital usually funds loans within 24 hours. Are you looking for small business loans bad credit? First Choice understands this. We take pride in helping you solve your financial predicament as quickly as possible, and we boast a high approval rate as well.
Short-Term Loans and Business Cash Advances
Short-term, unsecured advances are known as merchant cash advances (MCAs). These poor credit business loans are sometimes the only thing standing between a company remaining open or closing for good. Such poor credit business loans are great for the majority of businesses that just can’t get standard financing due to their bad credit history.If you’re a business with bad credit, you don’t need to have collateral. This makes the approval process even easier! We do not provide start-up loans, so you must have a business that has been functioning for a minimum of three months. Apart from that, we will certainly need to see that you have deposited a minimum of eight thousand dollars each of the past three successive months.
What Are the Benefits of Merchant Cash Advances?
Applying for a merchant cash advance undoubtedly has its perks and this type of loan offers many benefits to all kinds of companies. One of the greatest 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. Many times, a business can have its approval in only one business day. The approval rate for these loans is enormous, compared to typical bank loans as well. Believe it or not, over 90 percent of them are approved! The loan experience is pain-free, too.
You only have to submit a one-page application and have your business’ last six months of bank statements ready, too. We can work to approve your loan application when this information is provided.If you have been turned down by your bank because of bad credit, a short-term business loan in the form of a merchant cash advance is very likely just what you need. These loans, which usually range from four to 18 months, have a fixed cost of capital. Repayments can be made either daily or weekly. Merchant cash advances in most cases have somewhere between 20 and 22 payments each month.
With What Category of Businesses Can We Consult?
Short-term business loans bad credit can be acquired by many types of businesses. A merchant cash advance company like First Choice will not discriminate based on business type. There is a large range of businesses with which merchant cash advance companies like to work. Some of the most common niches include: Home Health Services, HVAC, Interior Decorators, Masonry and Stonework, Pest Control, Rigging and Scaffolding, Tire Shops, Trucking, Water Well Drilling, Wrecking and Demolition companies, Automotive/Mechanic Repair Shops, Auto Body Repair and Painting, Bars and Restaurants, Beauty Shops, Carpentry, Construction, Driveway and Parking Pavement, Gasoline Service Stations and General Building Contractors. Business loans with bad credit can be had by these companies and many more. First Choice can help any business that meets the requirements and has credit woes.
Are You in One of These States? We Can Help!
Merchant cash advances are in the market 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.
Credible Bad Credit Business Loans Companies
When a business with bad credit is looking for a merchant cash advance loan or bad credit small business loans, it is better to work with a trusted agent. Not all of them will have your best interest at heart. It is unfortunate when a borrower is declined due to an agent providing incorrect details to a lender. A respectable brokerage house should have extensive knowledge of the industry.
Brokers should know the best ways to get businesses financed by the lenders available to them, and they should have a comprehensive understanding of the process. 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 influenced when the application is shopped around to multiple lenders. You really want to choose a reputable company like First Choice Business Capital to make sure this does not happen.
Got Bad Credit Business Loan Needs? Call Us!
There is no need to wait for your credit score to improve to apply for a business loan. You do not need to put up your personal belongings as collateral, and you do not need good credit. This is a business opportunity that is just way too good to pass up. You can get this process started right now by filling out the simple form. It is available online, or if you prefer to discuss your options, you can call us today!