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 in Alameda, CA, If I Have Bad Credit?
If you are planning to get a bad credit business loan in Alameda, CA, First Choice Business Capital can help. At First Choice, we realize how stressful and depressing it can be if you have a poor credit score and you’ve been repeatedly declined from old-school banks for financing. That’s the reason that we have committed ourselves to making business-funding choices easily available to all enterprises, regardless of a bad credit history.
Getting a Business Loan With Bad Credit, Fact or Fabrication?
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 have many options that we can offer. Loans are denied all of the time, and this can occur for many reasons. Also, it’s common that bad credit is often cited in these cases. There may also be other considerations at play, such as a tax lien against the company or a court judgment.
Getting denied is frustrating, 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 easy access to cash, it is not going to be able to stay in business long at all. In 2008, the market collapsed, and since then, even those companies that are successful have had a hard time securing bank loans.From that time on, gaining access to capital has become a problem caused by new regulations. They apply to small and medium-sized entities. This means that those operations with no more than 50 employees are the ones affected. That’s why 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. Loan options for businesses with bad credit are not just pipe dreams. With alternative lending choices available, they are real.
Options Are Available in Alameda, CA, for Bad Credit Business Loans
It could be that you are one of the businesses that are unaware that short-term loan options are out there. Unsecured short-term loans are accessible to businesses the same as yours! It’s possible that you are worried, because you have no collateral and negative credit. Loans are available in the market, even with no collateral and negative credit. In fact, business loans for bad credit are available for all types of businesses and that’s not misinformation, it’s reality. First Choice Business Capital typically funds loans within 24 hours. Yes, just 1 day! 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 this. We take pride in helping you solve your financial dilemma as quickly as possible, and we boast a high approval rate as well.
Unsecured Loans, Short-Term Loans, Business Cash Advances
Alternate lending options such as these are often referred to as a merchant cash advance, or MCA. When conservative options do not work, due to lack of great credit, these poor credit business loans can be a wonderful chance for a company in terrible need of funding. You do not even need collateral in order to qualify for an MCA. We supply unique business financing in all types of industries. The only qualifying criteria we need is for your business to be older than three months and that you regularly deposit at least eight thousand dollars every month.
Positive Aspects of Merchant Cash Advances
Applying for a merchant cash advance absolutely has its perks. One of the biggest is that, as discussed already, it provides astonishingly fast loans, compared to that of a traditional bank. An estimate of 90 percent of these loans are approved. Lastly, these loans are generally funded in 48-96 hours after approval. You will not need to wait long for your money, 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 be made very quickly. When a business needs a poor credit loan fast, when your business is stalling because of lack of cash flow, a merchant cash advance is the perfect type of business loan they should search for. These loans have a fixed capital cost and run from 4-18 months. You can make your payments by the day or by the week. Daily payment loans are every business day. With an MCA, there are usually 20-22 payments each month.
Some Businesses We Work with
Short-term business loans bad credit are offered to a myriad of company niches. At First Choice, we have assisted almost every kind of company. There is a large range of businesses that merchant cash advance companies like to work with. Some of the most common niches include: Automotive/Mechanic Repair Shops, Wrecking and Demolition, Car 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 Stone, Gasoline Service Stations, Interior Decorators, General Building Contractors and Home Health Services.There are many more company specific niches that can be serviced with business loans with bad credit. If you meet the criteria we touched on previously, First Capital can work with you.
States We Can Assist!
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.
Working with a Trustworthy Agent of Bad Credit Business Loans
When trying to get bad credit small business loans, be positive that you are dealing with a professional broker. There are a lot of different lending institutions, so you have to navigate carefully. There are also times when borrowers are turned down because the brokers provide the wrong information to potential lenders
A good brokerage house can get businesses funded by thoroughly understanding the underwriting process of the different lenders available to them. Those lenders that can syndicate the deals may even increase loan amounts. 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 establishment like First Choice Business Capital will protect you from this.
Call Now for Your Bad Credit Business Loan
It takes a long time for your credit score to improve. Why lie in wait? You don’t have to let any business opening pass you by, and don’t have to give up your personal belongings or property to use as collateral for a loan. Change the direction of your business by getting in touch with us now!
First Choice Business Capital
Oakland, 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
94601, 94605, 94606, 94603, 94621, 94602, 94611, 94610, 94607, 94619, 94609, 94618, 94612, 94615, 94617, 94622, 94625, 94649, 94659, 94660, 94666, 94613, 94604, 94614, 94623, 94624, 94661