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 Islip, NY
Are you searching for bad credit business loans Islip, NY? If you want an instantaneous and hassle-free option, First Choice Business Capital can assist you today! Here at First Choice, we understand the pain and aggravation that getting denied for loans from traditional banks can cause. We know it can be frustrating, if you’re trying to get a traditional loan from a bank when your credit score is subpar.
Get a Business Loan with Bad Credit – Fast & Hassle-Free!
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 in really helping companies get the funds they need, regardless of what your credit history looks like, and we have many options that we can make available.Loans are denied all of the time, and this can occur for many reasons. Unsatisfactory credit is often cited in these cases. A company could also have tax liens or judgments against it.
Businesses with bad credit frequently give up after they are declined for a bank loan because capital is at the heart of every single enterprise. It must have working capital in order to stay profitable.Since the market crash of 2008, it has become very difficult for profitable businesses to get a bank loan. Regulations established after that time have cut access to capital for a considerable number.The sad thing is, it is not the large corporations suffering the brunt of these new laws. The ones affected are the small and medium-sized entities, those employing fewer than 50 workers.
Alternative loan providers have stepped in to help solve this dilemma. If you are interested in a financing process that does not take the traditional route, a high-risk lender like First Choice Business Capital can provide the funding you need, faster than you ever thought possible.
Bad Credit Business Loan Options Islip, NY
Most companies are not alerted to the options accessible to them when it comes to bad credit business loans Islip, NY. Even unsecured short-term loans are available to all kinds of businesses regardless of credit history. We understand you may be a little fearful because you may not have any collateral or you been turned down by the bank because of poor credit. However, there is no need to be afraid because business loans are easily available, even with no collateral and negative credit.
Furthermore, you can get bad credit business loans super fast. Many different types of companies can get business loans for bad credit with the various loan options we offer. Small business loans bad credit – really? Yes, we make it easy, because you need the cash now and not next week! First Choice not only has a high approval process, but a swift one. We understand the dire need to obtain the working capital to keep your doors open. We also realize that you need the money now, and pride ourselves in helping you get funded as rapidly as possible.
Short-Term Loans and Business Cash Advances
This type of offering is known as a merchant cash advance (MCA). These poor credit business loans are sometimes the only thing standing between a company continuing to be open or closing for good.Poor credit business loans are a true lifesaver for those companies that have been turned down by banking establishments because of their credit scores. If you’re a business with horrible credit, you don’t need to have collateral. There are funding options for all sorts of companies; so no matter what industry you are in, we can help. The only qualifying measures we seek are for your business to be older than three months and that you regularly deposit at least eight thousand dollars every month.
Benefits of Merchant Cash Advances
There are many positive aspects to applying for a merchant cash advance. One of the primary advantages of a loan of this sort is how quickly it is funded; it is unbelievably fast in comparison to a loan from a bank. Many times, a business can have its approval in only one business day. The approval rate of these loans is enormous, compared to typical bank loans, too. Believe it or not, over 90 percent of them are approved! This shows you have much better chances with us than at a bank!
You will not have to wait long for your cash, once approved. These loans are generally paid out in less than four business days, which is much faster than a bank. A one-page application and the last six months of your business bank statements are all you need to apply. With this information, an approval can be given very quickly. A merchant cash advance (MCA) can be just what you need, if you have been rejected by your bank as a result of damaged credit.Merchant cash advances are short-term business loans, they normally run from 4-18 months and have a fixed cost of capital. You can make your payments by the day or by the week. Daily payment loans are each business day. With an MCA, there are usually 20-22 payments each month.
We Coordinate with All Types of Companies
Short-term business loans bad credit can be acquired by many types of businesses. Some of the most common niches include: Automotive/Mechanic Repair service Shops, Auto Body Repair and Painting, Pubs and Restaurants, Beauty Shops, Carpentry, Development, Driveway and Parking Pavement, Diesel fuel Service Stations, General Building Contractors, Home Health Services, HVAC, Interior Decorators, Masonry and Stone, Pest Control, Rigging and Scaffolding, Tire Shops, Trucking, Water Well Drilling, Wrecking and Demolition companies and more. These niches and more are qualified for business loans with bad credit. We can work with any business that has bad credit and meets our minimum criteria.
Are You in One of These States? We Can Help!
If you also have a business 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.
Finding a Legitimate Financial Institution for Bad Credit Business Loans
It is essential to exclusively deal with reputable providers, when trying to secure bad credit small business loans. It can possibly be quite challenging to work out which institution to use. Lending institutions are many, so you have to navigate carefully. Sometimes borrowers are unintentionally declined, based on the wrong information provided to the lenders. A good brokerage house can get businesses funded by thoroughly understanding the underwriting process of the different lenders available to them.
Those lenders that can syndicate the deals may even raise loan amounts. However, you do not want your broker submitting your application to a ton of lenders. Deals that are sent in tandem like this can make your credit score take a downtrend even further. You do not want this to happen, especially when a low credit score is why you are shopping for alternative lending in the first place. Selecting a reliable lending house like First Choice Business Capital will save you this heartache.
Get in Touch with Us Right Now for Your Bad Credit Business Loan
You don’t need to hold everything for your credit score to rise to apply for a business loan. The quick and easy application can be completed online right now, and agents are waiting for your call. It is a simple, one-page application. Fill it out online or call us today!