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 looking for business loans in Des Moines, IA, but have credit issues? If you want an instantaneous and hassle-free approach, First Choice Business Capital can really help you today! Here at First Choice, we understand the irritation and frustration that getting denied for loans from traditional banks can cause.
Do You Know The Facts About Getting a Business Loan with Low 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! We pride ourselves in helping companies get the funds they need regardless of what your credit history looks like, and we have many options that we can offer. Bad credit can be the main reason for many denials and there could also be tax liens against the company, and court judgments can affect the outcome as well.
Capital is at the core of every business, so a business must have working capital in order to stay adrift. When the economy tanked in 2008 businesses suffered, and since then, getting a bank loan has become much more challenging. Regulations established after that time have cut accessibility to capital for a significant amount of companies. The sad thing is, it is not the large corporations suffering the brunt of these new laws. They apply to small and medium-sized entities. This means that those companies with under 50 employees are the ones affected.
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 solutions. High-risk lenders like First Choice Business Capital can provide quick approvals and no-nonsense funding solutions.No matter what you may have heard, it is certain that there are other options available for businesses besides standard banks when credit is a problem.
Bad Credit Business Loan Options Des Moines, IA
It is a pity that many individuals do not know their options, because small, medium and even large companies can qualify for uncollateralized loans. Many different types of companies can get business loans for unsatisfactory credit with the options we offer. Do you need a small business loan, but bad credit is holding you back? First Choice knows that businesses in need require loans now, so we pride ourselves on a high approval percentage that occurs quite quickly.
Unsecured Loans, Short-Term Loans & Business Cash Advances
Alternate lending such as these are often referred to as a merchant cash advance, or MCA. Low credit business loans are a true lifesaver for those companies that have been turned down by banking institutions because of their credit score. 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 bad credit. We offer custom loaning for businesses in all types of industries. If you have deposited about 8-10 thousand dollars every single month for the last three months, and have been in business for at least that amount of time, we can assist you!
What Are the Perks of Merchant Cash Advances?
MCAs offer plenty of advantages to all kinds of companies like yours. For one, these loans are funded much quicker than those from traditional banks. As a matter of fact, most of these loans are approved in 24 hours. The process for a loan approval is very uncomplicated, because a simple one page application is the only thing that is needed. Also, we need the last six months of your banking statements, since with this important information, we can work on approving you very fast.
If you need a bad credit business loan promptly, a merchant cash advance could be just the solution you are looking for. When your business has halted because of a lack of cash flow, this short-term business loan can get you the money you seriously need. These loans have a fixed capital cost and run from 4-18 months. Payment options are flexible for these loans, and they can be paid either daily or weekly. Loan payments are made daily with the exception of Saturday and Sunday. Each month, there are customarily 20 to 22 payments for a merchant cash advance.
We Work With All Types of Companies
All sorts of companies can get short-term business loans bad credit. First Choice loves to help all kinds of companies. Here is a sampling of the types of companies we work with: Building and construction, Electrical contractors, Painting, Carpentry, Roofer, Plumbing contractor, Heating and Air, Masonry & Stonework, Driveway & Parking Pavement, Water Well Drilling, Wrecking & Demolitions, General Building Contractors, Transportation, Heavy Construction, Moving Company, Restaurants/Bars, Gasoline service stations, Interior Decorators, Rigging and Scaffolding, Automotive/Mechanic Repair Shops, Auto Body Repair and Painting, Tire Shops, Beauty Shops, Pest Control and Home Health Providers. These are just several markets that are suited for business loans with insufficient credit. As you discovered before, the application process is easy and the criteria minimal. If you have credit problems affecting your ability to obtain a loan, First Capital can help.
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: 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 Consult with Reliable Bad Credit Business Loan Brokers
For companies with below average credit looking to receive bad credit small business loans, always check the reputation of the 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. Borrowers are sometimes declined because the wrong information is provided to financial institutions by the brokerage firm.
Respectable brokers know finance and the underwriting process well. They know what it takes to get business funds and the amount of credit could also be raised if the brokerage house knows how to syndicate the transaction. That being said, you want to see to it that your loan application is not shopped around. When your credit rating is subpar, the very last thing you really want is it being lowered even further because of your broker’s actions. Deals that are sent in tandem like this can make your credit score take a nosedive even further. You do not want this to happen, especially when a low credit score is why you are shopping for alternative lending in the first place. Picking a respectable 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 delay? Keep your personal belongings – you don’t have to worry about not having enough collateral. You can get this process started right now by filling out the simple form. It is available online, or if you prefer to discuss your options, you can call us today!
First Choice Business Capital
Des Moines, IA, United States
Communities we serve:
50315, 50317,50310, 50320, 50316, 50312, 50311, 50314, 50313, 50321, 50309, 50322, 50009, 50047, 50211, 50307, 50308, 50319, 50327, 50395, 50328, 50329, 50330, 50331, 50332, 50334, 50335, 50336, 50339, 50347, 50359, 50360, 50361, 50362, 50363, 50364, 50367, 50369, 50380, 50381, 50391, 50392, 50396, 50397, 50936, 50940, 50947, 50950, 50980, 50981, 50982, 50983, 50301, 50302, 50303, 50304, 50305, 50306, 50318, 50333, 50340, 50368, 50393, 50394