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 Brooklyn, NY
Bad credit business loans Brooklyn, NY are attainable – even with poor credit. At First Choice Business Capital, we can help you get the cash you need fast and without any hassle. At First Choice, we are aware of how stress-filled and infuriating it can be if you have a bad credit score and typical banks for loans have been declining you. That’s the reason why we have committed ourselves to making business-funding solutions readily obtainable to all business organizations regardless of a bad credit history.
The Facts About Acquiring a Business Loan 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 find yourself in the majority. We pride ourselves for our ability for assisting companies get the funds they need regardless of what your credit history looks like. Plus, we have many solutions that we can provide you. A reason for declined loans could be as basic as a company applies for a business loan with poor credit. A company could also have tax liens or judgments against them. Businesses with bad credit often just give up after they are declined for a bank loan.
Being turned down by a bank is often disheartening, and many businesses simply give up after hearing “no.” Without proper access to cash most businesses couldn’t keep their doors open for very long. It is the core foundation on which to keep operating. What’s worse it that new regulations enforced after the economic crash has made getting hold of capital near impossible. The entities affected by these regulations are not large corporations, but those with fewer than 50 employees.
This situation is a burden to those needing funding, but it has opened the doors for alternative lending institutions to step in to provide much-needed solutions. High-risk lenders like First Choice Business Capital can easily provide quick approvals and no-nonsense funding solutions for you. We even offer 24-hour approvals! It really is true that businesses with subprime credit can get the cash they are in need of quickly. When traditional routes fail, back-up financial institutions like First Choice can offer the assistance needed.
Bad Credit Business Loan Options Brooklyn, NY
It could be that you are one of the businesses that are unaware of the fact that short-term loan solutions are available. But the good news is, they really are – and the best part is, they’re unsecured! That means, even with bad credit and no collateral, businesses can receive loans. In fact, business loans for bad credit are available for all types of businesses and that’s not fiction, it’s the honest truth.
What’s even better is that you can get bad credit business loans fast — some alternate lending institutions such as First Choice Business Capital can typically fund you within just 24 hours. Small business loans bad credit – really? Yes, you’re reading this correctly! We understand you don’t need the money next week. You need it now! First Choice understands this and we take pride in helping you solve your financial dilemma as quickly as possible, and we have a high approval rate as well.
Short-Term Loans & Business Cash Advances
These kinds of alternate lending are often known as a merchant cash advance, also known as (MCA). When conservative options do not work due to lack of good credit, these poor credit business loans can be an amazing option for a company in dire need of money.
These alternative loans are even easier to qualify for since there is no collateral required. We provide loans for a variety of industries as well, so it is highly probable that we would be able to assist you too. Our only requirement is that your business has been in service for three months minimum and that you have deposit transfers between 8-10 thousand monthly.
Merchant Cash Advance Perks
There are lots of merits when applying for a merchant cash advance. One of the biggest perks about alternative loans as mentioned previously, is that it provides you with incredibly fast capital compared to that of a traditional bank. Most loans are approved in as little as one day.
The process for a loan approval is incredibly easy; a one page basic application is all that is needed. Along with the last 6 months of your business bank statements. With this information, an approval can be granted quickly. In fact, that’s all we really need to begin the approval process on your loan. As you can imagine, these loans are fantastic for those that need a bad credit loan in a hurry.
In that case, a short-term business loan in the form of a merchant cash advance is quite likely exactly what you need. These loans, which usually run from four to 18 months, have a fixed cost of capital; an MCA can be paid either by the day or week. Repayments can be made either daily or weekly. Payment loans made daily are Monday – Friday and merchant cash advances in most cases have within 20 and 22 payments each month.
What Sort of Businesses Can We Coordinate With?
Short-term business loans bad credit is available to a myriad of company niches. At First Choice, we have worked with almost every kind of business. Here are just a few we have worked with: Automotive/Mechanic Repair Shops, Wrecking and Demolition, Car Body Repair and Painting, Water Well Drilling, Pubs and Restaurants, Trucking, Beauty Shops, Tire Shops, Carpentry, Rigging and Scaffolding, Construction, Pest Control, Driveway and Parking Pavement, Brickwork and Stonework, Gasoline Service Stations, Interior Decorators, General Building Contractors and Home Health Providers. Of course, there are many other company niche markets that can be serviced for business loans with bad credit. First Choice partners with any company that is having loan issues due to bad credit as long as they meet the minimum criteria set forth earlier.
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: 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.
You Should Only Consult with Credible Bad Credit Business Loan Brokers
When looking to get bad credit small business loans, be sure that you are dealing with a credible broker. You see, not every company in the business of offering subprime loans will have your best interest in mind. Therefore, it is best to perform your due diligence. It is unfortunate when a borrower is declined because a broker has provided incorrect information and facts to another lender.
It is extremely important that the brokerage firm has an in-depth understanding of the entire underwriting process. They have to know their lenders well and be able to guide the borrower through the process flawlessly. Brokers may also be able to syndicate deals, meaning more funding for your company. On top of that, you want to be sure your loan application is not shopped around to lots of lenders. When your credit rating is below average, the very last thing you want is your credit rating to get lowered even more because of your inexperienced broker’s activities. That’s why you want to choose a legit company like First Choice Business Capital to guarantee this does not happen.
If You Need a Bad Credit Business Loan, Call Us Right now!
You do not have to wait until after your credit score gets any better to get a loan. This is a business opportunity waiting for you to take action. The simple application can be answered online right now, and operators are anticipating for your call. Fill out the short online application or call us now for even faster service!
First Choice Business Capital
Brooklyn, NY United States
Communities we serve:
11201, 11203, 11204, 11205, 11206, 11207, 11208, 11209, 11210, 11211, 11212, 11213, 11214, 11215, 11216, 11217, 11218, 11219, 11220, 11221, 11222, 11223, 11224, 11225, 11226, 11228, 11229, 11230, 11231, 11232, 11233, 11234, 11235, 11236, 11237, 11238, 11239, 11240, 11241, 11242, 11243, 11249, 11252, 11256, 11244, 11245, 11248, 11251, 11254, 11255, 11202, 11247