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 Probable?
First Choice Business Capital focuses on providing fast and problem-free business loans in Olathe, KS, for all kinds of businesses with bad credit. At First Choice, we realize how aggravating and irritating it can be if you have a bad credit score and you’ve been getting declined from conventional banks for financing. That’s exactly why we have committed ourselves to making business-funding options readily obtainable to all enterprises regardless of a bad credit history.
What’s The Truth About Getting a Business Loan With Bad 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! There are many reasons why lots of businesses with bad credit get declined for a bank loan. Reasons for declined loans could be as simple as a company applying for a business loan with poor credit. There may also be other elements at play, such as a tax lien against the company or a court judgment.
Getting denied is frustrating, and many companies give up their hopes for a loan once the bank denies them. The core of every business is its capital. Ever since the economic collapse of 2008, it has become tremendously difficult for profitable businesses to get a bank loan.From that time on, gaining access to capital has become a problem due to new regulations. To complicate matters, these regulations apply to “Mom and Pop” type operations that have less than 50 employees.
This is quite the dilemma, yet it has opened the market up for different lending options.
If you are interested in a lending solution that does not take the traditional route, a high-risk lender like First Choice Business Capital can provide the funding you need, faster than you ever thought possible.
Olathe, KS, Bad Credit Business Loan Options
Most companies are not aware of the solutions easily available to them. Even unsecured short-term business loans when you have bad credit are achievable. Yes, you can get business loans with subpar credit, because it’s our area of expertise! First Choice Business Capital cannot only deliver you the finance you need but provide business loans in these circumstances very fast. Many times, financing occurs in only 24 hours. You will be putting that money to work much faster than you ever thought possible! Are you looking for small business loans, but are worried about your bad credit? First Choice understands this. We take pride in helping you solve your financial crisis as quickly as possible, and we possess a high approval rate as well.
Short-Term Loans, Unsecured Loans & Business Cash Advances
These types of alternative lending is often referred to as a merchant cash advance, also known as (MCA). Business loans for insufficient credit are a true lifesaver for those companies that have been turned down by banking institutions because of their credit score. If you’re a business with bad credit, you don’t need to have collateral. We give custom business financing in all types of industries. We do not deliver start-up loans, so you must absolutely have a business that has been running for a minimum of three months. Besides that, we will certainly need to see that you have deposited a minimum of eight thousand dollars for the past three consecutive months.
Merchant Cash Advances Perks
MCAs offer numerous advantages to all sorts of companies like yours. A big advantage of this type of loan is that it can be funded in a fraction of the time compared to a traditional banking loan. Many loans of this type are approved within as little as one day and the process for a loan approval is very easy, since a one page application is everything that is needed.
You will also need to provide bank statements from the last six months. This is everything that is needed to get you approved quickly. A merchant cash advance can be simply just what you need if you have been rejected by your bank because of bad credit. They are usually paid back within four months to a year and a half and have a fixed cost of capital. Loan payments are every business day, and with an MCA there are usually 20-22 payments each month.
What Kind of Businesses Can We Partner with?
A vast array of businesses qualify for a short-term business loan for bad credit. Merchant cash advance companies like to work with all sorts. The following specific niches are just some of the businesses we work with: Automotive/Mechanic Repair Shops, Wrecking and Demolition, Car Body Repair and Painting, Water Well Drilling, Cafes and Restaurants, Trucking, Beauty Shops, Tire Shops, Carpentry, Rigging and Scaffolding, Construction, Pest Control, Driveway and Parking Pavement, Brickwork and Stone, Gasoline Service Stations, Interior Decorators, General Building Contractors and Home Health Providers. There are various other company niches that can be serviced with these types of business loans. First Choice can help any business that meets the criteria and has credit woes.
Are You in One of These States? We Can Help!
Merchant cash advances are also easily available in the following states: 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.
Trusted Low Credit Business Loans Company
There are dishonest companies in this industry, preying on those looking for a small business loan when they have credit issues. Given this, it is vital to ensure that you only deal with reputable brokers. There are a lot of different lending institutions, so you have to navigate carefully. A lot of times borrowers are accidentally declined based on providing the wrong information to the lenders.
Respected brokers know loans and the underwriting system well. They recognize what it takes to get business funds as well as the amount of the credit could be raised if the brokerage house knows how to syndicate the transaction. You do not want your broker submitting your application to a ton of lenders. When an application is shopped around, it can damage your credit score even more. Choosing a trustworthy alternative lending establishment like First Choice Business Capital will protect you from this.
Call Us Without Delay For Your Bad Credit Business Loan Needs
Why wait for your score to get better? There are no worries about collateral and this is a tremendous opportunity for your business to get the funds you need now, rather than later. You do not need to put up your personal possessions as collateral, and you do not need good credit. Call us now or fill out the short online application to get the process started right now!