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
If you are trying to get a bad credit business loan Santa Ana, CA,, First Choice Business Capital can help. We understand that having a less than stellar credit score can hamper your chances for a business loan from traditional banks.
Getting a Business Loan with Bad Credit, Honest Truth or Fiction?
If you feel you are alone in this plight, you may be surprised to know that you are not. Recent studies have even shown that less than a third of businesses could be approved for a loan from a traditional banking institution. Businesses with bad credit get denied for loans more often than not.
While bad credit can be the main reason for many denials, companies may also have a court judgment or tax lien.Once a bank turns down a loan, the business often gives up the search for financing. Still, there are other options.Working capital is the foundation on which a company operates. When a company does not have access 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, even those companies that are profitable have had a hard time securing bank loans. New regulations implemented after the economic crash have made getting hold of capital nearly impossible.
The ones impacted are the small and medium-sized entities, those employing fewer than 50 workers.This is quite the dilemma, yet it has opened the market up for alternative lending options.High-risk lenders like First Choice Business Capital can surely provide quick approvals and no-nonsense funding solutions.With alternative lending options available, it is a basic fact.
Santa Ana Bad Credit Business Loan Options
Maybe you are one of the businesses that are not aware that short-term loan possibilities are available. Uncollateralized loans are available to small, medium and large businesses with bad credit. Loans are available in the market, even with no collateral and negative credit. These business loans for bad credit are not just for certain types of companies, either. We service many different types in Santa Ana. What’s even better is that you can get bad credit business loans fast– some alternative financial institutions, such as First Choice Business Capital, can typically fund you within just 24 hours. 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 usually need it as quickly as possible, which is why we pride ourselves on getting quick approvals with a significantly high percentage approval record for businesses that apply for a business loan.
Business Cash Advances, Unsecured Loans and Short-Term Loans
You may have heard of these types of alternative finance options, which are also considered as merchant cash advances or MCAs. For companies that have been turned down for a business loan by a bank, these types of poor credit business loans offer an amazing opportunity to get funding. No collateral is needed to qualify for a business cash advance, which makes it actually easier to qualify for a loan if you’re a business with horrible credit. We offer custom financing for businesses in all types of industries. The only qualifications are that the business has been operating for at least three months and you’re depositing around 8-10 thousand dollars typically over the last three months.
The Benefits of Merchant Cash Advances
There are many perks to applying for a merchant cash advance. A big advantage of this type of loan is that it can be funded in a fraction of the time of a traditional banking loan. Many times, a business can have their approval in only one business day. The approval rate of these loans is astronomical, compared to typical bank loans as well. Believe it or not, over 90 percent of them are approved! You will not have to wait long for your money, either; most loans are financed less than four days after approval. The application is only one page and the last six months of banking statements will need to be provided.
When a business needs a poor credit loan fast, a merchant cash advance is the most suitable type of business loan it should seek out. Merchant cash advances are short-term business loans. They generally run from 4-18 months and these loans have a fixed cost of capital. The payments are made daily or weekly. Daily payment loans are Monday through Friday. MCA loans have between 20-22 daily payments a month.
We Consult with All Types of Companies
Short-term business loans bad credit are readily available to a variety of businesses. Small, medium and large businesses qualify for unsecured short-term loans. Here is a sampling of the types of companies we team up with: Automotive/Mechanic Repair work Shops, Auto Body Repair and Painting, Bars and Restaurants, Beauty Shops, Carpentry, Development, Driveway and Parking Pavement, Gas Service Stations, General Building Contractors, Home Health Professionals, HVAC, Interior Decorators, Brickwork and Stonework, Pest Control, Rigging and Scaffolding, Tire Shops, Transportation, Water Well Drilling, Wrecking and Demolition companies and more. Business loans with bad credit can be had by these companies and many more. First Choice deals with any company that is suffering due to bad credit and meets the minimal criteria set forth earlier.
States We Deal with
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.
Only Deal with Reputable Bad Credit Business Loan Brokers
When a business with bad credit is looking for a merchant cash advance loan or bad credit small business loans, it is best to deal with a trustworthy 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. There are times when borrowers are turned down because the brokers provide the wrong information to would-be lenders.
A good brokerage house can get businesses funded by thoroughly understanding the underwriting process of the different lenders available to them. When brokerage houses can syndicate, they may have the ability to secure lots more money on the loan. What you do not want is for the broker to shop your deal around. It should not be submitted to many lenders, because doing so might lower your already low credit score You want to choose a trustworthy company like First Choice Business Capital to make certain this does not happen.
Get in Touch with US Today for Your Bad Credit Business Loan
It is not important for you to hold back until your score improves to apply for a loan. Do you really want to let this opportunity pass you by? Of course not! And don’t worry about collateral — you don’t need it to obtain the loan. It is a simple,one-page application. Fill it out online or call us today!
First Choice Business Capital
Santa Ana, CA, United States
Communities we serve:
92704, 92703, 92707, 92701, 92706, 92705, 92606, 92614, 92780, 92799, 92866, 92868, 92725, 92702, 92711, 92712, 92735