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!
You Can Get a Business Loan with Bad Credit
Are you looking for bad credit business loans in Novato? If you want a quick and hassle-free option, First Choice Business Capital can serve you today!Here at First Choice, we understand the irritation and unnecessary aggravation that being denied for loans from traditional banks can cause. We know it can be so frustrating trying to get a traditional loan from a bank when your credit score is below average.
The Truth About About Getting a Business Loan with Bad Credit?
You are likely quite stressed and aggravated from being denied, but we can help.There are lots of reasons why businesses with bad credit are declined for a bank loan. Poor credit alone is one of the key reasons, but companies may also have judgments or liens.
Being denied is discouraging, and many companies give up their hopes for a loan once the bank denies them.The core of every business is its capital. When a company does not have easily access to cash, it is not going to be able to stay in business long at all. In 2008, the market crumbled, and, ever since, even those companies that are successful have had a hard time securing bank loans. New regulations put into effect after the economic crash has made getting hold of capital nearly impossible. The ones affected are the small and medium-sized entities, those employing fewer than 50 workers.
The good news is that alternative financial institutions have stepped in to help solve this dilemma. If you are interested in a loan process that does not take the traditional route, a high-risk lender like First Choice Business Capital can provide the funding you need, faster than you ever thought possible. We even offer 24-hour approvals! It really is true that businesses with subprime credit can get the funds they need to have. When traditional routes fail, alternative loan providers can deliver the assistance needed.
Bad Credit Business Loan Options in Novato
It is a shame that many people do not know their options. Uncollateralized loans are available to small, medium and large size businesses with bad credit. That’s right, you can get business loans with inadequate credit. You can get approved for the business loans with poor credit you need, as fast as tomorrow. Many different types of companies can get business loans for bad credit with the options we offer.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 typically need as quickly as possible, which is why we pride ourselves on getting simple approvals with a significantly high percentage approval rate for businesses that apply for a business loan.
Business Cash Advances, Short-Term Loans and Unsecured Loans
Merchant cash advances like this are also referred to as MCAs. When a conventional bank turns down a loan, these can produce the money required to stay operating. Since collateral is not mandated for a business cash advance, it is easier than ever to qualify. This makes the approval process even easier! The only qualifying measures needed are that the business has been operating for at least 3 months and you’re depositing approximately 8 to 10 thousand dollars typically over the last 3 months.
What Are the Full Advantages of Merchant Cash Advances?
There are many positive aspects to applying for a merchant cash advance. For one, these loans are funded much faster than those from traditional banks. Actually, most of these loans are approved in 24 hours. It’s estimated that 90 percent of these loans are approved. Lastly, these loans are generally funded in 48-96 hours after approval.
You do not have to go through a very long loan process, either. You need to fill out a one-page application and provide the last 6 months of your business bank statements. With this information, an approval can come very quickly. A merchant cash advance can be solely what you need, if you have been declined by your bank as a result of bad 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. The payments are made daily or weekly. Daily payment loans are made Monday through Friday. MCA loans have between 20-22 daily payments a month
With What Type of Businesses Can We Work?
Short-term business loans bad credit can be received by many types of businesses. A merchant cash advance company like First Choice will not discriminate based on business type. Here are just a few we have worked with: Automotive/Mechanic Repair Shops, Wrecking and Demolition, Car or truck Body Repair and Painting, Water Well Drilling, Nightclubs and Restaurants, Trucking, Beauty Shops, Tire Shops, Carpentry, Rigging and Scaffolding, Construction, Pest Control, Driveway and Parking Pavement, Brickwork and Stonework, Gasoline Service Stations, Interior Decorators, General Building Contractors and Home Health Service providers. Business loans with bad credit can be had by these companies and many more. First Choice works with any company that is suffering due to bad credit and meets the minimum criteria set forth earlier.
States with Which We Collaborate
Merchant cash advances are offered 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.
Work Only with Legitimate Bad Credit Business Lenders!
For companies with poor credit looking to acquire a bad credit small business loans, always check the reputation of the agent. Not every company in the business of lending subprime loans will have your best interest in mind, so it is best to perform due diligence. Often times borrowers are accidentally declined based on providing the wrong information to the lenders. It is very important that the brokerage firm has an in-depth understanding of the underwriting process. They need to know their lenders well and be able to guide the borrower through the process.
You will also want to ensure the brokerage firm is not introducing 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. Deals that are submitted in tandem like this can make your credit score take a nosedive even further. You do not want this to happen, primarily when a low credit score is why you are shopping for alternative lending in the first place. Picking an established lending house like First Choice Business Capital will save you this heartache.
Call Us Immediately for Your Bad Credit Business Loan Needs
It takes a long time for your credit score to improve. Why delay? Keep your personal belongings, because you don’t have to worry about not having enough collateral. Fill out the short online application or call us now!
First Choice Business Capital
Novato, CA, United States
Communities we serve:
San Francisco , Alameda, Berkeley, Daly City, Fremont, Hayward, Novato, Oakland, Pleasanton, Richmond, San Mateo, San Rafael, San Ramon, South San Francisco, Union City, Walnut Creek, Antioch, Brentwood, Concord, Livermore, MIlpitas, Palo Alto, Pittsburg, Vallejo, CA
94947, 94945, 94949, 94998, 94948