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!
Getting a Business Loan With Bad Credit in Lakewood, CO is Possible!
Bad credit business loans are not a fallacy. At First Choice Business Capital, we can help you get the extra money you really need in Lakewood, CO.We have many capital options available for companies, regardless of a bad credit history. The approval process is fast as well, 24 hours in many cases!
What You Need to Know About Getting a Business Loan With Bad Credit
If you think that you are alone in this circumstance, you may be surprised to know that you are not. Recent studies have even shown that only under a third of businesses could be approved for a loan from a traditional banking institution.We pride ourselves in assisting companies get the funds they need regardless of what your credit history looks like, and we have many alternatives that we can deliver.
Banks deny loans to companies with bad credit for a variety of reasons. It is true that one of the main reasons that denials occur is simply when a business has bad credit. Once a bank turns down a loan, the business often gives up the search for financing. Even so, there are other options.We all know that without capital, a business will stagger. Keeping the doors to a business open demands capital. When the economic situation tanked in 2008, businesses suffered. Since then, getting a bank loan has become tougher.
Regulations established after that time have cut accessibility to capital for a considerable amount of companies. The fact is, it is not the large corporations suffering the brunt of these new laws.The companies affected by these new rules are not large corporations, but those with under 50 employees.At First Choice Capital, we are skilled in high-risk funding for those businesses that are affected by these regulations. No matter what you may have heard, it is certain that there are other options accessible for businesses besides standard banks when credit is an issue.
Options Are Available in Lakewood, CO for Poor Credit Business Loans
It is a pity that many individuals do not know their options. But the good news is, they actually are – and the best part is, they are unsecured! Yes, you can get business loans bad credit. Business loans for bad credit are our field of knowledge! Furthermore, you can get bad credit business loans fast and that’s no myth. First Choice Business Capital commonly 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 possess a high approval rate as well.
Short-Term Loans and Business Cash Advances
Merchant cash advances such as this are also referred to as an MCA. When a traditional bank turns down a loan, these can give the money required to stay doing business. If you’re a business with poor credit, you don’t need to have collateral. We offer custom funding 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 Advances Benefits
Applying for a merchant cash advance most definitely has its perks. A key example of one of these benefits is how quickly a merchant cash advance is financed. Where traditional banks can take a long time, an MCA could be approved and paid in only a fraction of the time. About 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 an extensive loan process, either. The application is only one page and the last six months of banking statements will need to be supplied. We can work to approve your loan application when this data is provided. A merchant cash advance can be simply what you need if you have been rejected by your bank due to damaging credit. A merchant cash advance is a short-term business loan that can get you operating again. These loans are generally paid back in fewer than 18 months, some as little as 4 months. There is also a fixed cost of capital. Daily loan payments are each business day. With an MCA, there are usually 20-22 payments each month.
We Coordinate with Many Businesses
A large range of businesses qualify for short term business loans bad credit. Merchant cash advance companies like to work with all sorts. The list below is a smattering of the types of businesses we want to hear from: Beauty Shops, Tire Shops, Carpentry, Construction, Masonry and Stonework, Driveway and Parking Pavement, Air Conditioning, Gasoline Service Stations, General Building Contractors, Automotive/Mechanic Repair Shops, Wrecking and Demolition companies, Car or truck Body Repair and Painting, Home Health Services, Interior Decorators, Pest Control, Clubs and Restaurants, Rigging and Scaffolding, Water Well Drilling and Trucking. There are more company industries that can be serviced with business loans with bad credit. First Choice consults with any company that is suffering due to bad credit and meets the minimal criteria set forth earlier.
Are You in One of These States? We Can Help!
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.
Working With a Dependable Finance Broker of Business Loans with Poor Credit
For companies with poor credit looking to receive a bad credit small business loans, always check the reputation of the agent. There are several different lending institutions, so you have to navigate carefully. Borrowers have accidentally been declined in the past due to erroneous information being given by intermediaries to their lender of choice. A reliable brokerage understands the underwriting process. They have considerable expertise about the lenders at their disposal.
When brokerage houses can syndicate, they may have the chance to secure additional 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. Deals that are sent in tandem like this can make your credit score take a plunge 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. Selecting a trustworthy lending house like First Choice Business Capital will save you this heartache.
Got Bad Credit Business Loan Needs? Call Us!
It takes a long time for your credit score to improve. Why hang around? Do not let it pass you by. And don’t worry about collateral – you don’t need it to obtain the loan. Call us right now or submit the short online application to get the process started right now!
First Choice Business Capital
Lakewood, CO, United States
Communities we serve: