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 Hempstead, NY
Are you hunting for bad credit business loans Hempstead, NY? Well you are in luck because if you want a swift and hassle-free approach, First Choice Business Capital can lend a hand you today! Here at First Choice, we understand the pain and suffering that getting denied for loans from traditional banks can cause you.
Traditional banks always say “no” to funding businesses that do not have good credit. This causes much frustration to the owners because the bank does not care of the business is profitable or no – they only look at your credit history. It’s ok though because at First Choice Business Capital, we understand your pain. Regardless of a bad credit history, we can provide various business-funding options to you and your business, loaning choices such as cash advances, short-term loans, unsecured loans and much more.
Getting a Business Loan With Bad Credit – The Cold Hard Facts
Recent research studies shows, a big 70% of businesses don’t qualify for a bank loan. Banks deny loans for many reasons, but bad credit can be the main reason for most denials. However, a company could also have tax liens or judgments against them, which will not play in their favor. Unfortunately, businesses with bad credit often give up after they are declined for a bank loan. As you can imagine, getting denied is demoralizing, and many businesses give up hope for a loan once the bank denies them. This is a huge error since the core of every business is its working capital. As you well know, a business certainly cannot keep its doors open without ongoing cash flow. Due to the economic collapse back in 2008; it has become really difficult for companies to secure loans.
That’s because there are new requirements in place that has made the process of getting a business loan even more challenging than it was before. What’s worse is that these regulations affected countless “Mom and Pop” type operations that have less than 50 employees. Thankfully, alternate loan providers have stepped in to help solve this dilemma. Business cash advance and high-risk loan companies such as First Choice Business Capital are conveniently accessible and can provide you with a quick no-nonsense approach and getting you quick approvals for your business loan; we even offer 24-hour approvals! The fact is that even businesses with subprime credit can get the money they need to keep their business operating. When traditional routes fail, alternate financial institutions such as First choice can supply the assistance needed. Call us today to see you qualify for a awful credit business loan.
Bad Credit Business Loan Options Hempstead, NY
It’s seems such a shame that many business owners do not know all their funding options, when it comes to bad credit. The reality is unsecured short-term loan options exist for companies that find themselves in trouble with their credit. This means that even with bad credit and no collateral, businesses can receive loans with some minimal qualifying measures. In fact, you can get approved for the business loans with poor credit you need, as quickly as tomorrow.
Not only that, funding is made available to many different types of companies. That means you too can get business loans for bad credit with all the funding options we offer. In addition, you can also get bad credit business loans fast! With First Choice Business Capital, you can typically receive loans within just one day. First Choice knows that businesses are in need of funding now, so we pride ourselves on having a high approval percentage that we deliver quickly.
Short-Term Loans, Business Cash Advances & Unsecured Loans
Alternative lending is often referred to as a merchant cash advance, which is also known as (MCA). Poor credit business loans can really be a true lifesaver for many companies that have been turned down by banking establishments – just because of their bad credit score.
These alternative loan solutions are actually easier to qualify than traditional loans for since no collateral is necessary. This makes the approval procedure way easier! The only requirements we ask for is for your business to be older than three months and that you have been repeatedly depositing at least eight thousand every month.
Merchant Cash Advances
MCAs offer many advantages to all kinds of companies when it comes to business loans. A prime example of one of these advantages is how quickly a merchant cash advance is funded. Where traditional banks always take a long time, an MCA can be approved and funded in just a fraction of the time. In fact, often times, a business can have their approval in one business day. The approval rate for these alternative business loans is humongous compared to typical bank loans as well.
Believe it or not, over 90 percent of them are approved! We can proudly claim such a high approval percentage, which basically means you have a much better chance of being approved than you would at any bank! Even better, you will not have to wait long to get the cash in hand once you are approved. Incredibly, these loans are ordinarily paid out in less than four business days, which again no bank can ever compete with. The loan approval process is simple and easy too. All you need to do is complete is a simple one-page application form. You’ll also want to be sure to have the last six months of your business bank statements available. With this info, we can work on approving you very fast. So if you need a bad credit business loan as fast as possible, a merchant cash advance could be just the solution you are looking for.
Our short-term business loans (merchant cash advances) usually range from four to 18 months and have a fixed cost of capital. An MCA can be paid possibly by the day or week; payment options are flexible for these loans, and they can be paid either daily or weekly. Payment loans are made daily with the exception of Saturday and Sunday and each month, there are customarily 20 to 22 payments for a merchant cash advance.
What Kind of Businesses Do We Consult with?
Short-term business loans bad credit is available in the market to a wide range of businesses. Small, medium and large businesses all qualify for unsecured short-term loans. Here is a sampling of the types of companies we typically deal with: Automotive/Mechanic Repair Shops, Wrecking and Demolition, Automobile Body Repair and Painting, Water Well Drilling, Cafes 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 Companies. All of these business types and more are all suited for business loans with bad credit. And remember, the application process is easy and the criteria minimal. If you have any credit concerns that affecting your ability to obtain a loan, Call First Choice Business Capital, we can help.
States We Can Help!
Merchant cash advances are also readily available 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.
Seeking out a Professional Lender of Bad Credit Business Loans
When seeking to get bad credit small business loans, it’s advisable that you are certain that you are dealing with a credible broker. You really should be careful, as navigating through all the different lending institutions can be a bit tricky. The reason is that there are some unscrupulous lenders out there and you want to steer clear of them. Many things can go wrong and often do. Its unfortunate when a borrower is declined because an inexperienced agent provides the wrong details to a would-be lender.
A good brokerage house get businesses funded easily because they have a thorough understanding of the underwriting. Good brokers may also be able to syndicate deals, this means it can make more funding available for your company. Also, you want to confirm your loan application is not being shopped around. When your credit rating is below average, the last thing you really want is for it to be lowered even further because of your broker’s irresponsible activities. This is an issue because deals that are shopped to a number of lenders can actually hurt the borrower’s credit score. This is why it is crucial that you work with an alternative lending company like First Choice Business Capital for your business loans when you find yourself needing capital and you’re credit rating is less than perfect.
Get In Touch With Us Today for Your Bad Credit Business Loan Needs!
Are you stalling the business loan process and unnecessarily waiting until your credit score improves before applying for a loan? If so, you need to stop because there is no reason to wait. There are other viable lending options and you don’t need a bank. Do you honestly want to let this opportunity pass you by?
Yes, you can keep your personal belongings and you don’t have to worry about not having enough collateral; you don’t need any collateral. It’s just a simple, one-page application you need to submit. Fill it out online or call us today!