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!
Bad Credit Business Loans Brookhaven, NY
Are you looking for bad credit business loans Brookhaven, NY? If you want a simple and hassle-free resolution, First Choice Business Capital can lend a hand today!Here at First Choice, we understand the distress and unnecessary aggravation that being denied for loans from traditional banks can cause. As a matter of fact, we understand that having a less than stellar credit score can hamper your chances for a business loan from traditional banks.
Getting a Business Loan with Bad Credit – The Cold Hard Facts:
Furthermore, you are likely quite worried and discouraged from being denied, but we can help. Surprisingly, businesses with bad credit get denied for loans more often than not. Also, you may be surprised to learn that only 30 percent of businesses qualify for a bank loan — which means you are not alone! Continually, a company may have a court judgment against it, or there may be tax lien issues.
With this in mind, a business must have capital in order to stay afloat. A point often overlooked is the financial debacle of 2008. As a result it has become exceptionally difficult for profitable businesses to get a bank loan. Unfortunately, these new regulations put into effect after the economic crash have made securing capital nearly impossible
Consequently, the ones impacted are the small and medium-sized entities, those employing fewer than 50 workers. Luckily, alternative finance companies have stepped in to help solve this dilemma. At First Choice Capital, we are skilled in high-risk funding for those businesses that are affected by these regulations. It really is true that businesses with subprime credit can get the funds they want. When traditional routes fail, alternative finance companies can supply the assistance needed.
Bad Credit Business Loan Options Brookhaven, NY
Another key point is that it’s possible that you are unaware that you qualify short-term loan alternatives. To point out small, medium and even large entities can qualify for uncollateralized loans. Even with bad credit, it is quite possible to get approved immediately. Surprisingly, loans are available in the market, even with no collateral and negative credit. Under those circumstances, less than excellent credit does not equal a denial.
What’s even better is that you can get bad credit business loans fast. For this reason, some alternative lending institutions such as First Choice Business Capital can typically fund you within just 24 hours. Yup! When a business needs working capital, it needs it now. First Choice recognizes this need and offers fast approvals.
Business Cash Advances, Short-Term Loans and Unsecured Loans
You may have heard of these alternative borrowing options, which are also considered merchant cash advances or MCAs. For companies that have been turned down for a business loan by a bank, these bad credit business loans offer an amazing opportunity to get funding. Continually, you do not even need collateral in order to qualify for an MCA. It’s important to realize that we provide finances for a myriad of industries as well, so it is very probable we would be able to assist you. All things considered, we only require that your business has been operational for three months minimum and that you deposit between 8-10 thousand dollars monthly.
What Are the Merits of Merchant Cash Advances?
Equally important is that merchant cash advances (MCAs) offer many positive aspects to all kinds of companies. A top example of one of these benefits is how quickly you can get funding from a merchant cash advance. Where traditional banks can take a long time, you can get an approval for an MCA in only a fraction of the time. As a matter of fact, approvals for most of these loans happen in one day.
With this in mind, you will not need to wait long for your money either.Bearing that you will get the funds you need in less than four days after approval. Additionally, the loan approval process is simple and easy, as well. All you need to complete is a simple one-page application form. You should also be prepared to produce the last six months of business bank statements.
A merchant cash advance is a great solution for companies that need cash fast. When your business is slowing down as a result of a lack of cash flow, this short-term business loan can get you the money you desperately need. Moreover, these loans have a fixed capital cost and run from 4-18 months. Payment options are flexible for these loans. Given that they can be paid either daily or weekly, except Saturday and Sunday. Each month, there are customarily 20 to 22 payments for a merchant cash advance.
We Coordinate with Many Businesses
Many different types of enterprises can acquire short-term business loans when their credit is a problem. Furthermore, a merchant cash advance company like First Choice will not discriminate based on business type. Some of the most common niches include: Home Health Services, HVAC Systems, Interior Decorators, Masonry and Stonework, Pest Control, Rigging and Scaffolding, Tire Shops, Trucking, Water Well Drilling, Wrecking and Demolition companies, Automotive/Mechanic Repair Shops, Auto Body Repair and Painting, Bars and Restaurants, Beauty Shops, Carpentry, Construction, Driveway and Parking Pavement, Gasoline Service Stations and General Building Contractors. These are just a few trades that are qualified to apply for business loans with bad credit. As you saw before, the application process is easy and the criteria minimal. If you have credit challenges affecting your ability to obtain a loan, First Capital can help.
Are You in One of These States? We Can Help!
Merchant cash advances are readily available to business entities 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.
Professional Bad Credit Business Loans Companies
There are unscrupulous companies in this industry, preying on those looking for bad credit small business loans. Considering this, it is essential that you only deal with reputable brokers. There are a lot of different lending institutions, so you have to navigate carefully.
Sometimes, borrowers are accidentally declined based on the wrong information provided to the lenders. A respectable brokerage house should have extensive knowledge of the industry. It should know the best way to get businesses financed by the lenders available to them, and it should have an in-depth knowledge of the process.
Those lenders that can syndicate the deals may even grow loan amounts, but you do not want your broker submitting your application to a number of lenders. You really want to choose a legitimate company like First Choice Business Capital to guarantee this does not happen.
If You Are in Need of a Bad Credit Business Loan, Do Not Delay — Contact Us Today
Why wait for your score to get better? There are no fears about collateral. This is a tremendous opportunity for your business to get the funds you need now, instead of later. You do not need to put up your personal possessions as collateral, and you do not need good credit. This is a business opportunity that is just way too good to pass up. Fill out the short online application or call us as soon as possible!