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!
A Business Loan With Bad Credit – Is it Really Possible?
Are you hunting for business loans in Ames, IA, but have bad credit? If you want a speedy and hassle-free option, First Choice Business Capital can lend you a hand today! Here at First Choice, we understand the pain and aggravation that getting denied for loans from traditional banks can cause.
The Facts About Acquiring a Business Loan With Subpar Credit
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! Banks deny loans for many reasons and this could be because of bad credit, tax liens or judgments against them.Once a bank turns down a loan, the business often gives up the search for capital. However, there are still other options.
Since the financial disaster of 2008, it has become tremendously difficult for profitable businesses to get a bank loan.There are new regulations in place as well that make the procedure even more challenging than it was before the collapse. These new rules apply to small and medium size companies with 50 or less employees.This situation is a burden to those needing funding, but it has opened the doors for alternate finance companies to step in to provide much-needed services.
If you are interested in a loan solution that does not take the traditional route, a high-risk lender like First Choice Business Capital can provide the finances you need, faster than you ever thought possible.
Business Loan Options Bad Credit Ames, IA
Most companies are not aware of the solutions easily available to them. Even unsecured short-term business loans for unsatisfactory credit are attainable.These business loans for unacceptable credit are not just for certain types of companies, either, since we service many different types in Ames, IA. Do you need small business loans, but have bad credit? There’s no need to worry at all! First Choice knows that businesses in need require loans now, so we pride ourselves on a high approval percentage that occurs quite quickly.
Business Cash Advances, Short-Term Loans and Unsecured Loans
These kinds of alternative lending is often known as a merchant cash advance, or (MCA). When a traditional bank turns down a loan, these can give the money required to stay doing business. You do not even need collateral in order to qualify for an MCA. We provide personalized business financing in all types of industries. If you have deposited roughly 8-10 thousand dollars every single month for the last three months, and have been in service for at least that amount of time, we can assist you!
Merchant Cash Advantage Perks
MCAs offer lots of advantages to all types of companies like yours. 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. As much as 90 percent of these loans are approved. Furthermore, these loans are generally funded in 48-96 hours after approval. The loan approval process is fast and easy as well, because all you need to fill out is a simple one-page application form.
Also, you should also be prepared to produce the last six months of business bank statements. A merchant cash advance is an excellent solution for companies that need cash quickly. A short-term business loan in the form of a merchant cash advance is more than likely just what you need. These loans, which usually run from 4 to 18 months, have a fixed cost of capital. Loan payments are made daily from Monday to Friday and merchant cash advances typically have somewhere between 20 and 22 payments each month.
We Deal with Many Businesses
A large variety of businesses qualify for short-term business loans when credit is an issue.. There is a large range of businesses that merchant cash advance companies like to work with. Some of the most common niches include: 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, Cafes and Restaurants, Beauty Shops, Carpentry, Construction, Driveway and Parking Pavement, Gasoline Service Stations and General Building Contractors. There are various other company sectors that can be serviced with business loans with horrible credit. First Choice can help any business that meets the qualifying criteria and has credit woes.
What States Do We Partner with?
Merchant cash advances are accessible 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.
Only Deal with Highly Regarded Bad Credit Business Loan Brokers
There are dishonest companies in this industry, preying on those looking for small business loans when they suffer from a bad credit score. Given this, it is imperative to ensure that you only deal with reputable brokers. There are many 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 credible brokerage understands the underwriting process. Moreover, they have extensive know-how about the lenders at their disposal. You should also know that some brokerage houses could even syndicate deals, which can maximize the total approval amounts. Also, a good broker should stop your deal getting submitted to multiple lenders. Choosing a trusted alternative lending company goes a long way in making sure this does not occur. First Choice Business Capital knows this, and would refrain from doing anything to hurt our client’s credit further.
If You Need a Bad Credit Business Loan, Call Us Immediately!
Why wait for your score to get better? There is no stress about collateral and this is a tremendous opportunity for your business to get the funds you need now, instead of later. To get started only requires a simple, one-page application. Fill it out online or call us today!