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 Huntington, NY
Absolutely yes, First Choice Business Capital focuses on providing fast and hassle-free bad credit business loans Huntington, NY for all kinds of businesses with bad credit. We understand that having a less than stellar credit score can hamper your chances for getting a business loan from traditional banks, which is why we make it fast and simple.
Get a Business Loan With Bad Credit – Approval In 24 hrs!
Recent reports show, a colossal 70% of businesses do not qualify for a traditional bank loan. If you are a business owner in need of a loan, that can be a very scary figure, which is why we pride ourselves in helping companies get the funds they need with various loan options regardless of what your business credit history looks like. You should know that having a poor credit is just one of the reasons that banks may deny your business loan.
In fact, banks actually deny loans to companies with bad credit for a wide array of reasons; it’s not just credit. Other reasons for denial can include court judgments or tax liens against the business. To make matters worse, once a bank turns down a loan, the business often gives up looking for financing because they are not aware that there are alternative options available. Its no wonder, most companies surrender their hopes for a loan once the bank denies them – it is extremely demoralizing. It’s no secret that the core of every business is its working capital. When a business does not have accessibility to cash, they are not going to be able to stay in business long at all.
In 2008, the economic climate collapsed, and since then even those companies that are making a profit are still having had a hard time securing a bank loan. The main reason for that is that some of the new regulations put into effect after the economic crash has simply made getting capital almost impossible. The sad part is that companies affected the most by this are the small and medium-sized entities, those employing less than 50 workers. Although this is quite a big dilemma if you are a business looking for a loan, but the good thing is that it has actually opened the market up for alternate lending options. The fact is that there are good viable options for business cash advances from companies like First Choice Business Capital that provide no-nonsense financing and offer a quick approval process.
Bad Credit Business Loan Options Huntington, NY
Unfortunately, what most businesses don’t realize is that unsecured short-term loans are readily obtainable to them even with bad credit! We are here to tell you that unsecured short-term loan options do exist for companies with financial woes! Business loans are available, even with no collateral and terrible credit. In fact, business loans for bad credit are available for all types of businesses and that’s not fiction, it’s fact.
First Choice Business Capital often funds loans within 24 hours in most cases. Yes, just one day! Not many alternative finance companies offer bad credit business loans fast, like First Choice Business Capital. So, if you’re looking for small business loans bad credit? Look no further! That’s because we realize that when a business needs working capital, they need it now; First Choice understands this need and it’s why we offer such simple approvals.
Business Cash Advances, Short-Term Loans and Unsecured Loans
These types of alternate lending options are often called a merchant cash advance, also known as (MCA). When conservative options do not work due to the lack of good credit, these types of poor credit business loans can be an excellent chance for a company in terrible need of money. If you’re a business with horrible credit, you can get the funds needed for your business and you don’t need to have collateral.
The fact that you don’t even need to rely on collateral makes the approval process even easier as you can imagine! The only requirements we need are for your business to be older than three months and that you repeatedly deposit at least eight thousand every month (for the last 3 months).
What Are the Positive Aspects of Merchant Cash Advances?
Applying for a merchant cash advance has its perks, no question about it. First of all, these loans are funded much more quickly than those from traditional banks. In fact, most of MCA loans are approved in just 24 hours and the approval rate for these loans is incredibly high. In fact, over 90 percent of all loan applications are approved! Secondly, soon after you’re approved, you’ll have all the cash you need within 48-96 hours. Lastly, you do not have to go through an extensive and embarrassing loan process, either. The loan application you need to turn in is only one page long; and takes just a few minutes.
The only documents we would need are the last six months of your bank statements. Once you provide these details, we can begin working on approving your loan very fast. So, if you need a bad credit business loan right away, a merchant cash advance could be just the solution you are looking for. As you can see they offer many perks and these loans 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; the Repayments can be made either daily or weekly. Payment loans made daily are Monday – Friday and finally Merchant cash advances often have anywhere between 20 and 22 payments each month.
Some Businesses We Collaborate With
Did you know that all sorts of companies could get short-term business loans bad credit? First Choice loves to help all kinds of companies and we have a long history of doing just that. The list below is just a smattering of the types of businesses we’d like to hear from:Automotive/Mechanic Repair Shops, Wrecking and Demolition, Automobile 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, Masonry and Stone, Gasoline Service Stations, Interior Decorators, General Building Contractors and Home Health Services. These companies and many more can have business loans with bad credit. First Choice can collaborate with any company that is suffering due to bad credit as long as they meet the minimum criteria as mentioned above.
Are You in One of These States? We Can Help!
If your business is in one of the following states, we may be able to help you with a merchant 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.
Seeking Out a Reliable Loan Provider For Bad Credit Business Loans
A few words to the wise… for companies with subpar credit looking to get a bad credit small business loans, you should always be sure to check the reputation of the agent.You see, tot all of these brokers will have your best interest at heart and many things to look out for.
For example, there are also times when borrowers are turned down because the brokers inadvertently provide the wrong information to would-be lenders. Although there was most likely any foul play, they could very well have messed up your chances of getting the funds you need. A good brokerage house can get businesses funded by thoroughly understanding the underwriting process of all the different lenders available to them and providing the accurate details to them.
Another thing a reputable broker can do is syndicate deals because when brokerage houses can syndicate, they can typically secure lots more money for you on the loan. The one thing you do not want is for the broker to shop your deal around. Your deal should not be submitted to many lenders as deals that are sent in tandem like this can make your credit score take a downtrend for the worst. You do not want this to happen, primarily when a low credit score is why you are shopping for alternative lending to begin with. Choosing a reputable lending house like First Choice Business Capital will save you from this type of heartache.
Call Us Now for your Bad Credit Business Loan Needs
If you have been waiting around trying to get your credit rating to improve, you need to stop right now. You are simply just wasting time this is just not necessary with all the alternate lending choices available to you now. Do you honestly want to let this opportunity pass you by?
You don’t have to forfeit your personal belongings or property to use as collateral for these business loans. All you need to do is fill out a simple, one-page application. Submit the form online or call us today to get you started!