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 in Billings, MT- Is it Really Possible?
Are you searching for business loans bad credit in Billings, MT? If you want a swift and hassle-free remedy, First Choice Business Capital can lend you a hand today! Here at First Choice, we understand that having a less than stellar credit score can hamper your chances for a business loan from traditional banks.
How to Get Business Loans With Bad Credit?
Studies have shown that approximately 70 percent of companies will not qualify for traditional bank loans. So if you have been denied, you can find yourself in the majority.Poor credit alone is one of the prime reasons that banks deny business loans and some companies may also have a judgment or lien. Once a business gets denied for a loan, they often give up all hope for funding.
When the economic situation tanked in 2008, businesses suffered. Since then, getting a bank loan has become much more tough because gaining access to capital has grown into a problem caused by new regulations.The companies affected by these are not large corporations, but those with under 50 employees.
While this is a step in the wrong direction, it has opened up a new market for those specializing in alternative funding options.High-risk lenders like First Choice Business Capital could provide quick approvals and no-nonsense funding solutions.
Bad Credit Business Loan Options in Billings, MT
It is a pity that many individuals do not know their options. Unsecured short-term loan options do exist for companies in your predicament! Even with bad credit and no collateral, businesses can acquire loans. First Choice Business Capital cannot only give you the funding you need but provide bad credit business loans fast. Many times, financing occurs in only 24 hours. You will be putting that money to work sooner than you ever thought feasible! With First Choice Business Capital, you can normally get financing within just one day! First Choice not only has 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 financed as rapidly as possible.
Unsecured Loans, Short-Term Loans & Business Cash Advances
Merchant cash advances such as this are also referred to as an MCA. These business loans are a true lifesaver for those companies that have been turned down by banking organizations because of their credit score. You do not even really need collateral in order to qualify for an MCA. We offer custom loaning for businesses in all types of industries. We only require that your business has been operable for three months minimum and that you transfer between 8-10 thousand dollars monthly.
What Are the Benefits of Merchant Cash Advances?
MCAs offer plenty 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. You can be approved for this type of loan in only one day. We can proudly claim an approval rate of over 90 percent, which says you have much better chances of being approved than at a bank! You will not have to wait long for your cash once approved. These loans are normally paid out in less than four business days, which is much faster than a bank. You will also need to provide bank statements from the last six months.
This is everything is needed to get you approved quickly and we can work to approve your loan application when this data is provided. A merchant cash advance can be solely what you need if you have been denied by your bank as a result of terrible credit. A merchant cash advance is a short-term business loan that can get you working again. These loans are generally paid back in fewer than 18 months, some as little as four months. Payment options are flexible for these loans, and they can be paid daily with the exception of Saturday and Sunday. Each month, there are customarily 20 to 22 payments for a merchant cash advance.
We Partner with All Types of Companies
Short term business loans bad credit can be secured by many types of businesses. A merchant cash advance company like First Choice will not discriminate based on business type. The following particular niches are just some of the businesses we work with: Beauty Shops, Tire Shops, Carpentry, Construction, Masonry and Stonework, Driveway and Parking Pavement, HVAC System, 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, Cafes and Restaurants, Rigging and Scaffolding, Water Well Drilling and Trucking. These marketplaces and more are qualified for business loans for bad credit. If you meet the criteria we touched on previously, First Capital can work with you.
States We Do Business In
Merchant cash advances are easily available 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.
Working With a Dependable Agent of Poor Credit Business Loans
When trying to get bad credit small business loans, be positive that you are working with a reliable broker. Not every one of them will have your best interest at heart. Borrowers are sometimes declined because the wrong information is provided to financial institutions by the brokerage firm. A respectable brokerage house should have extensive knowledge of the industry. They should know effective ways to get businesses financed by the lenders available to them, and they should have a complete knowledge of the process.
You will also want to ensure the brokerage firm is not showing your deal to a wide variety of lending institutions. A borrower’s credit score can be adversely influenced when the application is shopped around to multiple lenders. Deals that are sent in tandem like this can make your credit score take a downtrend even further. You do not want this to happen, primarily when a low credit score is why you are shopping for alternative lending in the first place. Picking an established 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 lie in wait? The quick and easy application can be completed online right now, and brokers are anticipating your call. 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!