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 Forest Hills, NY
First Choice Business Capital concentrates on providing fast and hassle-free bad credit business loans Forest Hills, NY, for all kinds of businesses with bad credit. We know it can be so frustrating trying to get a traditional loan from a bank; especially when your credit score is substandard.
Getting a Business Loan With Bad Credit – What You Need To Know
Studies have shown that approximately 70 percent of companies will not qualify for traditional bank loans. So if you have been denied, you are certainly in the majority.Businesses with bad credit get denied for loans more often than not. Poor credit alone is one of the fundamental reasons that banks deny business loans. However, a company could also have tax liens or judgments against them, which could certainly play a role. Businesses with bad credit usually give up after they are declined for a bank loan.
This is unfortunate because without proper availability to cash most businesses couldn’t keep their doors open for very long. Working capital it is the basis on which a business needs to keep operating. Since the economic collapse of 2008, new policies and regulations have cut access to capital for many businesses. These new guidelines apply for small and medium size companies with 50 or less employees. While this is a step in the wrong direction for all businesses, it has actually opened up a new market for those specializing in alternative funding and the businesses that they serve.
If you are interested in a lending approach that does not take the dreaded traditional route, then you can take comfort in know that a high-risk lender like First Choice Business Capital can provide you with the cash you need, faster than you ever thought possible. So, now you know… with alternative lending possibilities available, getting a business loan with bad credit very real and not a delusion.
Bad Credit Business Loan Options Forest Hills, NY
It’s a shame that many business folks with bad credit do not know their finance options. Unsecured short-term loans do exist for companies just like you in your situation! There are all kinds of business loan options readily available for your particular needs. Don’t worry about having bad credit; it’s true you can secure alternate business loans with bad credit. At First Choice, less than excellent credit does not equal a denial for us.
We deliver business loans with poor credit every single day. Plus, business loans for bad credit are provided for all kinds of businesses in Forest Hills. Do you require small business loans, but have bad credit? No problem! First Choice knows that businesses are in dire need and want financing now!
Unsecured Loans, Short-Term Loans & Business Cash Advances
This kinds of alternate lending is 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 types of poor credit business loans offer an amazing opportunity for businesses to get funding without any hassles. These alternative loan solutions are even more appealing and easier to qualify for since no collateral is required.As you can guess, this makes the approval process even easier!
At First Choice Business Capital, we do not offer any type of start-up loans, so you must absolutely have a business that has been running for a minimum of at least three months. In addition to that, we will definitely need to see that you have been depositing a minimum of eight thousand dollars for each of the past three successive months.
The Perks of Merchant Cash Advances
There are many benefits when applying for a merchant cash advance as it offers many conveniences to all kinds of companies. A big advantage for this type of loan is that it can be funded in just a fraction of the time than that of a traditional banking loan. A large number of merchant cash advance loans are approved in as little as one day.
We can proudly say that we have an approval rate of over 90 percent; which shows you have much better chances of being approved with us than at a bank. Plus, you will not have to wait long to get the cash in hand once you’ve been approved. In addition, merchant cash advance loans are typically paid out in less than four business days, which is much faster than traditional financing providers. To qualify, you just need to show the last 6 months of your business bank statements.
Once we receive this information, an approval can be granted very quickly in most cases. A merchant cash advance can be all that you need if your bank has turned you down as a result of terrible credit. If your business is slowing down which has been caused by a lack of cash flow, a short-term business loan can get you the money you so desperately need. These loans have a fixed capital cost and usually run from 4-18 months. The payments are made daily or weekly. Daily payment loans are Monday to Friday and MCA loans have between 20-22 daily payments a month.
We Deal with Many Businesses
Short-term business loans bad credit is on call to a large variety of businesses. Small, medium and large business qualify for unsecured short-term loans. Here are just a few we have worked with: Automotive/Mechanic Repair Shops, Wrecking and Demolition, Car or truck Body Repair and Painting, Water Well Drilling, Taverns and Restaurants, Trucking, Beauty Shops, Tire Shops, Carpentry, Rigging and Scaffolding, Construction, Pest Control, Driveway and Parking Pavement, Masonry and Stonework, Gasoline Service Stations, Interior Decorators, General Building Contractors and Home Health Providers. There are a lot more company types that can be serviced for business loans with bad credit. If you meet the criteria we mentioned previously, First Choice Capital can definitely work with you.
Are You in One of These States?
If your business is in one of the following states, we may be able to help you with a cash advance: 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.
Reliable Bad Credit Business Loans Company
For companies that have substandard credit and are looking to receive bad credit small business loans, you should always check the reputation of the agent. Please perform your due diligence while you wade through all the loan solutions that are potentially available.
We are available to help because we realize borrowers are sometimes declined because the wrong information is provided to the potential lenders by the brokerage firm. This is a crucial mistake; a professional brokerage firm must understand the underwriting process inside and out. They need to have considerable expertise about all the lenders at their disposal and is very careful to provide the correct information for review.
You’ll also want to ensure the brokerage firm you are using is not showing your deal to a wide variety of lending institutions, as this can be harmful. A borrower’s credit score can actually be detrimentally affected further when the application is shopped around to multiple lenders. That’s right… deals that are shopped to numerous lenders can literally hurt the borrower’s credit score, which is why it is so vital that you work with an alternate lending company like First Choice Business Capital for your business loans; particularly when you’re credit rating is below stellar.
You Need a Bad Credit Business Loan, Call Us Right Now
Are you just waiting for your credit score to magically get better? Why would you do that when there is no need to wait! There is also no reason to worry about having to put down collateral. Instead, you should act now, as this is a tremendous opportunity for your business to get the funds you need immediately, instead of “maybe” later.You can easily get this process started right now just by filling out the simple form. It is available online, or if you prefer to discuss your options, you can call us today!