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 If I Have Bad Credit?
First Choice Business Capital concentrates on providing fast and easy business loans Council Bluffs, IA, for all kinds of businesses with bad credit. We understand that having a less than stellar credit score can hamper your chances for a business loan from traditional banks.
How Do I Get a Business Loan When My Credit Score is Low?
If you seem like 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.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 offer.
Bad credit can be the main reason for many denials, but also it could be tax liens against the company and court judgments can affect the outcome too.Getting denied is frustrating, and many companies surrender their hopes for a loan once the bank denies them. When a company does not have accessibility to cash, they won’t be able to stay in business for very long at all. In 2008, the economic climate collapsed, and since then even those companies that are making money have had a hard time securing bank loans.Regulations put in force after that time have cut accessibility to capital for a considerable amount of institutions. Sadly, it is not the large corporations suffering the brunt of these new laws. They only 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 alternative financial institutions to step in to provide much-needed services.High-risk lenders like First Choice Business Capital are able to provide quick approvals and no-nonsense funding solutions.
Council Bluffs, IA, Bad Credit Business Loan Options
It is a shame that many individuals do not know their options, because you can get business loans with low credit. Less than excellent credit does not equal a denial, since we provide business loans with subpar credit. It is also true that you can get low credit business loans fast. With First Choice Business Capital, you can ordinarily obtain financing within just one day!First Choice knows that businesses in need require funding now, so we pride ourselves on a high approval percentage that occurs quite quickly.
Business Cash Advances, Short-Term Loans and Unsecured Loans
These different types of lending options are often referred to as a merchant cash advance, also known as (MCA). Inadequate credit business loans are a true lifesaver for those companies that have been turned down by banking establishments because of their credit score. You do not even need collateral in order to qualify for an MCA. There are funding options for all sorts of companies; so no matter what business sector you are in, we can help. If you have deposited within 8-10 thousand dollars every month for the last three months, and have been operational for at least that amount of time, we can really help you!
Merchant Cash Advances Perks
MCAs offer several advantages to all kinds of companies like yours. For one, these loans are funded much quicker than those from traditional banks. In fact, most of these loans are approved in 24 hours. Furthermore, a staggering 90 percent of these loans are authorized and these loans are generally funded in 48-96 hours after approval.
The loan process is smooth, too. All that is needed to be filled out is one simple 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 perfect type of business loan they should try to find. Merchant cash advances are short-term business loans. Furthermore, they commonly run from 4-18 months and these loans have a fixed cost of capital. Daily payments are made five days per week, not counting Saturday or Sunday. For a merchant cash advance, there are usually between 20 and 22 payments every month.
Some Businesses We Partner with
Short-term business loans when credit is below par are readily available to a diverse of businesses. Small, medium and large business qualify for unsecured short-term loans. Here are just a few we have worked with: Automotive/Mechanic Repair Shops, Wrecking and Demolition, Automobile Body Repair and Painting, Water Well Drilling, Bars and Restaurants, Trucking, Beauty Shops, Tire Shops, Carpentry, Rigging and Scaffolding, Construction, Pest Control, Driveway and Parking Pavement, Masonry and Stone, Gasoline Service Stations, Interior Decorators, General Building Contractors and Home Health Companies. There are a lot more companies that can be serviced with business loans with below average credit. First Choice teams up with any company that is suffering due to bad credit and meets the minimum criteria set forth earlier.
Are You in One of These States? We Can Help!
Merchant cash advances are available in the market to business organizations 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.
Reliable Subpar Credit Business Loans Company
When trying to get bad credit small business loans, be positive that you are working with a reputable broker. There are many different lending institutions, so you have to navigate carefully. Often times borrowers are accidentally declined based on providing the wrong information to the lenders.
A respectable brokerage house should have extensive knowledge of the industry. Also, they should know ways to get businesses funded by the lenders available to them, and they should have a detailed understanding of the process. You should also know that some broker houses could even syndicate deals, which can expand the total approval amounts. Also, a great broker should stop your deal getting submitted to multiple lenders. When an application is shopped around, it can damage your credit score even more. Choosing a trustworthy alternative lending company like First Choice Business Capital will protect you from this.
If You Need a Bad Credit Business Loan, Call Us As Soon As Possible
You do not have to wait until after your credit score is better to get a loan. This is a business opportunity that you should take on quickly. The fast and easy application can be submitted online right now, and agents are anticipating your call. Fill out the short online application or call us as soon as possible!