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 with Bad Credit
Bad credit business loans are not a fabrication. At First Choice Business Capital, we can help you get the finances you need in Redlands, CA. We understand that having a less than stellar credit score can hamper your chances for a business loan from traditional banks.
The Facts about Receiving a Business Loan with Bad Credit
The majority of companies today do not qualify for bank loans. In fact, studies have shown that only 30 percent of businesses would be approved. Bad credit can be the main reason for many denials, but a company may also 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.” However, we pride ourselves in helping companies get the funds they need, regardless of what their credit history looks like, and we have many options that we can offer.
The core of every business is its capital. When a company does not have accessibility to cash, it is not going to be able to stay in business long at all. In 2008, the economic climate caved in, and ever since then, even those companies that are successful have had a hard time securing bank loans. New requirements have cut access to capital for many businesses.This especially applies to small and medium companies with 50 or fewer employees.
Alternative financial institutions have stepped in to help solve this dilemma. If you are interested in a financing approach that does not take the traditional route, a high-risk lender like First Choice Business Capital can provide the funds you need, faster than you ever thought possible.
Options Are Available in Redlands for Bad Credit Business Loans
Most companies are not acutely aware of the solutions accessible to them. Even unsecured, short-term business loans bad credit are plausible. Even with bad credit and no collateral, businesses can obtain loans. Furthermore, you can get bad credit business loans fast. First Choice Business Capital can not only offer you the financing you need, but provide bad credit business loans fast. Many times, backing occurs in only 24 hours. You will be putting that money to work even faster than you ever thought possible! Are you desperate for a business loan, but you have awful credit? Not a problem at all! First Choice knows that businesses in need require loans now, so we pride ourselves on a high percentage of approvals that occur quite quickly.
Business Cash Advances, Short-Term Loans and Unsecured Loans
Alternative lending such as this is often referred to as a merchant cash advance, or MCA. When a conventional bank turns down a loan, MCAs can give the money necessary to stay functioning. Since collateral is not required for a business cash advance, it is easier than ever to qualify. We offer custom lending for businesses in all types of industries. We only require that your business has been operable for three months minimum and that you transfer between 8-10 thousand dollars monthly.
Merchant Cash Advantage Perks
MCAs offer many advantages to all kinds of companies like yours. One of the biggest perks about these types of loans is that, as mentioned before, it offers really fast loans compared to that of a traditional bank. You can be approved for this type of loan in only one day.The process for a loan approval is very simple. A one-page, easy application and six months of business bank statements are all that are needed.
These loans are perfect for those that need a bad credit loan fast. A short-term business loan in the form of a merchant cash advance is quite likely just what you need. These loans, which usually run from four to 18 months, have a fixed cost of capital. An MCA can be paid by the day or week. Daily payment loans are each business day. With an MCA, there are usually 20-22 payments each month.
With What Type of Businesses Can We Team?
Many types of businesses can get short-term business loans bad credit. A merchant cash advance company like First Choice will not discriminate based on business type. Here is a sampling of the types of companies we work with: Home Health Companies, 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, Night clubs and Restaurants, Beauty Shops, Carpentry, Construction, Driveway and Parking Pavement, Gasoline Service Stations and General Building Contractors. We can work with any business that has bad credit and meets our minimum criteria.
States in Which We Do Business
Merchant cash advances are available 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.
Work Only with Highly Regarded Bad Credit Business Lenders!
When looking to get bad credit small business loans, be sure that you are working with a reliable broker. 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. Borrowers are sometimes declined because the wrong information is provided to lending institutions by the brokerage firm.
A respectable brokerage house should have extensive knowledge of the industry. It should know how to get businesses funded by the lenders available to them. Those lenders that can syndicate the deals may even grow loan amounts. However, you do not want your broker submitting your application to a multitude of lenders. Deals that are sent in tandem like this can make your credit score take a downtrend even further. Deciding on a trusted lending house like First Choice Business Capital will save you this heartache.
Contact Us Right Now for Your Bad Credit Business Loan
There is no need to wait for your credit score to build up to apply for a business loan. You do not need to put up your personal items as collateral, and you do not need good credit. This is a business opportunity that is just way too good to pass up. Change the direction of your business by contacting us now!