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 San Jose, CA, If I Have Bad Credit?
First Choice Business Capital can help you receive the bad credit business loans you need to keep your business in San Jose, CA, afloat, even when you have bad credit.Traditional banks often turn down 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.
How to Obtain a Business Loan with Horrible 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.Banks deny loans for many reasons. You may be shocked to learn that only 30 percent of businesses qualify for a bank loan, which means you are not alone! In addition to bad debt, there might also be tax liens against the company, and court judgments can affect the outcome, too.
Working capital is the foundation on which a company operates. 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 crumbled, and, since then, even those companies that are profitable have had a hard time securing bank loans.There are new regulations in place, too, that make the procedure even more challenging than it was before the collapse, this applies to small and medium-sized companies with 50 or fewer employees.
This situation is a burden to those needing funding, but it has opened the doors for alternate loan companies to step in to provide much-needed services.Business cash advance and high-risk finance companies, such as First Choice Business Capital, are conveniently accessible to provide you with a quick, no-nonsense financing approach and getting you quick approvals for your business loan. When credit is an issue, you now have options beyond traditional banks.
San Jose, CA, Bad Credit Business Loan Options
What nearly all businesses don’t know is that unsecured short-term loans are easily attainable by them! The best part is, they are unsecured! There are still loans readily available for your needs. That is absolutely correct. You can get business loans with bad credit. Less than perfect credit does not equal a denial. We provide business loans with poor credit.What’s even better is that you can get bad credit business loans fast. Some alternative loan providers offer bad credit business loans fast, like First Choice Business Capital, which is honored to offer loans in just 24 hours in many cases. Looking for small business loans bad credit? First Choice understands that when businesses are looking for working capital, they commonly need it as quickly as possible, which is why we pride ourselves on getting easy approvals with an incredibly high percentage approval history for businesses that apply for a business loan.
Business Cash Advances, Short-Term Loans and Unsecured Loans
Alternate lending, such as these options, are often referred to as merchant cash advances, or MCAs. These poor credit business loans are amazing for the majority of businesses that just can’t get typical financing due to their bad credit history. If you’re a business with poor credit, you don’t need to have collateral. We provide loans for a variety of industries as well, so it is absolutely possible we would be able to assist you. We only require that your business has been working for three months minimum and that you have deposited between 8 and 10 thousand dollars monthly for the last 3 months.
What Are the Benefits of Merchant Cash Advances?
MCAs offer a lot of perks to all kinds of companies like yours. A key example of one of these benefits is how quickly a merchant cash advance is funded. Where traditional banks can take a long time, an MCA could be approved and paid in only a fraction of the time. Many times, a business can have its approval in only one business day.
The approval rate of these loans is massive, compared to typical bank loans, as well. Believe it or not, over 90 percent of them are approved! The loan process is smooth, too. All that is required to be completed is one simple page. You will also need to provide bank statements from the last six months. This is all that is needed to get you approved quickly.
A merchant cash advance is an ideal solution for companies that need cash quickly. These loans are considered short-term business loans. The loans have a fixed cost of capital. They usually are paid back within four months to a year and a half. The payments are made daily or weekly. Daily loan payments are made Monday through Friday. MCA loans have between 20-22 daily payments a month.
We Deal With All Types of Companies
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. The list below is a smattering of the types of businesses we want to hear from: Home Health Services, Cooling and Heating, 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. These are just an only a few business sectors that are eligible for business loans with bad credit. As you saw before, the application process is easy and the criteria minimal. If you have credit challenges affecting your ability to obtain a loan, First Capital can help.
States In Which We Do Business
If your business is in one of the following states, we may be able to help you with a cash advance: 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 Trusted Bad Credit Business Lenders!
It is vital to exclusively deal with reputable suppliers when trying to secure bad credit small business loans. It may possibly be quite tricky determining which institution to go with, and there are a large number. You should be careful.Sometimes borrowers are inadvertently declined, based on providing the wrong information to the lenders. It is really important that the brokerage firm has an in-depth understanding of the underwriting process. It should know its lenders well and have the ability to guide the borrower through the process.
You will also want to ensure the brokerage firm is not presenting 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. 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.
If You Are in Need of a Bad Credit Business Loan, Do Not Delay — Contact Us Today
It takes a long time for your credit score to improve. Why linger? The straightforward application can be filled in online right now, and operators are anticipating for your call. Fill out the short online application or call us today!
First Choice Business Capital
San Jose, CA, United States
Communities we serve:
95123, 95111, 95122, 95112, 95116, 95125, 95148, 95124, 95136, 95132, 95129, 95121, 95127, 95120, 95118, 95126, 95117, 95128, 95131, 95133, 95135, 95110, 95138, 95134, 95130, 95119, 95008, 95139, 95014, 95113, 94089, 95032, 95035, 95037, 95050, 95054, 95070, 95101, 95140, 95141, 95190, 95191, 95192, 95193, 95194, 95196, 95002, 95013, 95103, 95106, 95108, 95109, 95115, 95150, 95151, 95152, 95153, 95154, 95155, 95156, 95157, 95158, 95159, 95160, 95161, 95164, 95170, 95172, 95173