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?
Business loans for unexceptional credit are not a myth. At First Choice Business Capital, we can help you get the capital you really need in Kansas City, MO. We understand that having a less than stellar credit score can hamper your chances for a business loan from traditional banks.
Here’s What You Need to Know About Getting Business Loans 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! Loans are denied all of the time, and this can occur for many reasons. Low credit is often cited in these cases. Also, there could quite possibly be tax liens against the company, and court judgments can affect the outcome too.
Capital is at the soul of pretty much every business, and without proper availability to cash most businesses couldn’t keep their doors open for very long. Since the economic debacle of 2008, it has become extremely difficult for profitable businesses to get a bank loan. From that time on, gaining access to capital has become a problem as a result of new regulations. Furthermore, to complicate matters, these regulations apply to “Mom and Pop” type operations that have less than 50 employees.
Fortunately, this dilemma has opened the doors for new types of loan options from alternative lenders. High-risk lenders like First Choice Business Capital can surely provide quick approvals and no-nonsense funding solutions.By using the alternate loan options available, it is true that a business with bad credit can get a loan.
Bad Credit Business Loans Options Kansas City, MO
First Choice not only boasts a high approval procedure but an immediate one as well. We understand the dire need to obtain the working capital you need. We also understand that you need the money now, and pride ourselves in assisting you get funded as fast as possible.It is a shame that many people do not know their options. But the good news is, business loans are out there for you and the best part is, they are unsecured! Loans are easily available, even with no collateral and bad credit. Furthermore, you can get these business loans fast. Business loans for horrible credit are given for all sorts of businesses in Kansas City, MO.
Short-Term Loans, Unsecured Loans & Business Cash Advances
These types of alternative lending are often referred to as a merchant cash advance, also known as (MCA). For companies that have been turned down for a business loan by a bank, these kinds of unsatisfactory credit business loans offer an amazing opportunity to get funding. You do not even really need collateral in order to qualify for an MCA. We offer custom funding for businesses in all types of industries. The only qualifying criteria needed is that the business has been operating for at least 3 months and you’re depositing at minimum 8-10 thousand dollars typically over the last 3 months as well.
Merchant Cash Advances Benefits
Merchant cash advances offer many positive aspects to all kinds of companies. For one, these loans are funded much faster than those from traditional banks. In fact, most of these loans are approved in 24 hours.The process for a loan approval is very straightforward, because you have to fill out a basic one page application and the last six months of banking statements will need to be provided.
That is all we need to begin the approval process on your loan and these loans are perfect for those that need a bad credit loan fast. These loans, which usually run from 4 to 18 months, have a fixed cost of capital. Daily loan payments are every business day. Furthermore, with an MCA, there are usually 20-22 payments each month.
What Category of Businesses Can We Consult with?
All sorts of companies can get short-term business loans when credit is an issue. First Choice loves to help all kinds of companies. There is a vast array of businesses that merchant cash advance companies like to work with. Some of the most common niches include: Beauty Shops, Tire Shops, Carpentry, Construction, Masonry and Stonework, Driveway and Parking Pavement, HVAC, Gasoline Service Stations, General Building Contractors, Automotive/Mechanic Repair Shops, Wrecking and Demolition companies, Vehicle Body Repair and Painting, Home Health Services, Interior Decorators, Pest Control, Clubs and Restaurants, Rigging and Scaffolding, Water Well Drilling and Trucking. Any of these companies and many more can receive business loans with inadequate credit. First Choice teams up with any company that is suffering due to bad credit and meets the minimal criteria set forth earlier.
What States Do We Team up with?
Merchant cash advances are also obtainable 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.
Work Only With Dependable Bad Credit Business Lenders!
There are unscrupulous companies in this industry, preying on those looking for small business loans when their credit score is low. Considering this, it is essential to ensure that you only deal with reputable brokers. Perform your due diligence while you wade through the loan choices that are readily available. There are also times when borrowers are turned down because the brokers provide the wrong information to potential lenders.
A good brokerage house can get businesses funded by thoroughly understanding the underwriting process of the different lenders available to them. You should also know that some brokerage houses could even syndicate deals, which can grow the total approval amounts. Also, a good broker should prevent your deal from getting submitted to multiple lenders. Deals that are shopped to a number of lenders can essentially hurt the borrower’s credit score, which is why it is important that you work with an alternate lending company like First Choice Business Capital for your business loans when your credit rating is short of stellar.
If You Are In Need of a Bad Credit Business Loan, Do Not Delay – Contact Us Today
It is not necessary for you to hold everything until your score improves to apply for a loan. Do you actually want to let this opportunity pass you by? The simple application can be completed online right now, and agents are waiting for your call. Change the direction of your business by calling us now!
First Choice Business Capital
Kansas City, MO, United States
Communities we serve:
64114, 64118, 64134, 64155, 64131, 64151, 64130, 64119, 64127, 64133, 64111, 64157, 64110, 64117, 64132, 64138, 64124, 64113, 64128, 64116, 64123, 64137, 64109, 64129, 64154, 64112, 64106, 64152, 64108, 64126, 64145, 64156, 64153, 64158, 64105, 64136, 64125, 64139, 64146, 64147, 64101, 64120, 64149, 64163, 64012, 64030, 64052, 64052, 64053, 64055, 64064, 64068, 64079, 64081, 64082, 64102, 64150, 64161, 64164, 64165, 64166, 64167, 64172, 64192, 64144, 64162, 64170, 64180, 64183, 64185, 64187, 64193, 64194, 64197, 64198, 64944, 64999, 64121, 64141, 64148, 64168, 64171, 64179, 64188, 64190, 64191, 64195, 64196, 64199