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 Jackson Heights, NY
Are you seeking out bad credit business loans Jackson Heights, NY? Have you been denied by a bank? Then you’re in the right place. If you want a fast and hassle-free approach to getting a loan, First Choice Business Capital can assist you today! Here at First Choice, we understand the pain and stress that getting denied for a business loan from traditional banks can cause.
The reality is that traditional banks often refuse funds to businesses that do not have good credit, even though they are a profitable business. This is what causes much anxiety and frustration to the owners. The good news is we understand your pain and regardless of a bad credit history, we have many funding options available to you, such as cash advances, short-term loans and much more
You Can Get A Business Loan With Bad Credit
Studies have shown that approximately 70 percent of companies will not qualify for a traditional bank loan. So if the banks have denied you, then you’ll find yourself in the majority of businesses that struggle with getting funding. Banks deny loans for many reasons. But reasons for a declined loan could be as simple the company applying for a business loan with poor credit. Once a business gets denied for a loan, they often give up all hope for funding.
Getting denied is discouraging, and it is not surprising that so many companies give up their hopes for a loan once the bank denies them. The core of every business is its capital. It is the bedrock on which to keep operating. New regulations implemented after the economic crash has made getting hold of capital almost near impossible. These new guidelines apply for small and medium size companies with 50 or less employees.
While these regulations are a step in the wrong direction as far as businesses are concerned, it has opened up a new market for those specializing in alternative funding options. This translates into a huge business opportunity for business with bad credit go get funding. If you are interested in a loan process that does not take the traditional route, a high-risk lender like First Choice Business Capital can provide the funds you need, faster than you ever thought possible.
Bad Credit Business Loan Options Jackson Heights, NY
Most companies that need business loans are not acutely aware of the options readily available to them. Believe it or not, even unsecured short-term business loans bad credit are entirely possible. That means uncollateralized loans are available to small, medium and large size businesses that have a bad credit. It’s true; you can get business loans with poor credit even if you’ve been denied for bad credit.
Business loans for bad credit are our area of expertise! Less than perfect credit does not equal a denial with First Choice Business Capital. We deliver business loans with poor credit every day. And we make them available to many different types of companies, which can easily get these loans with the various options we offer them.
There are other options besides the bank. Many alternative loan providers can offer bad credit business loans fast, like First Choice, which is proud to deliver loans in just 24 hours in many cases. Looking for small business loans, but suffer from bad credit? We got you covered, since First Choice understands your predicament and we take pride in helping you solve your financial crisis as quickly as possible. Plus, we’re proud of our extremely high approval rate as well.
Unsecured Loans, Short-Term Loans & Business Cash Advances
Perhaps you have heard of these types of alternative lending options, which are also considered merchant cash advances or MCAs. When a traditional bank turns down a loan, these types of loans can provide the money required for a business to continue operating.These alternative loan options are even easier to qualify for because no collateral is required.
It does not matter if you’ve been denied, there are alternative funding options available for all types of companies; so no matter what business sector you are in, we can help you with unsecured loans and business cash advances.The only requirement is that your business has been operational for three months minimum and that you are transferring between 8-10 thousand dollars monthly.
What Are the Advantages of Merchant Cash Advances?
There are many advantages when applying for a merchant cash advance. For one, these loans are funded much more quickly than those from traditional banks. In fact, most of these loans are approved in just 24 hours. That’s right, you can be approved for this type of loan in only one day.
You will not have to wait long for your money either; most loans are financed less than four days shortly after approval. The procedure to get approved is really easy, too because the application form is only one page. You should have your business’s last six months of bank statements ready, too. When a business needs a bad credit loan fast, a merchant cash advance is probably the most suitable type of business loan they should find.
A short-term business loan in the form of a merchant cash advance usually runs from four to 18 months and has a fixed cost of capital. An MCA can be paid by the day or week. Daily payments are made five days per week, not counting Saturday or Sunday. Typically with a merchant cash advance, there are usually between 20 and 22 payments made every month.
Some of The Businesses We Deal With
Did you know short-term business loans bad credit is readily available to a variety of businesses? Small, medium and large business all qualify for unsecured short-term loans. There is a vast range of businesses that merchant cash advance companies like First Choice usually to work with. Some of the most common niches include: Home Health Companies, HVAC, Interior Decorators, Masonry and Stonework, Pest Control, Rigging and Scaffolding, Tire Shops, Trucking, Water Well Drilling, Wrecking and Demolition companies, Automotive/Mechanic Repair Shops, Auto Body Repair and Painting, Clubs and Restaurants, Beauty Shops, Carpentry, Construction, Driveway and Parking Pavement, Gasoline Service Stations and General Building Contractors. Any of these companies and many more can acquire business loans with bad credit. If you meet the criteria we touched on previously, there is no doubt First Capital can work with you.
Are You in One of These States? We Can Help!
Merchant cash advances are out there to business entities in the following states: 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.
Working With a Trusted Agent of Bad Credit Business Loans
For any company that has poor credit and is looking to secure a bad credit small business loan, it is important to always check the reputation of the broker. Not every company in the business of lending subprime loans will have your best interest in mind, so it’s always best to perform your due diligence.
The reason is some borrowers have unintentionally been declined in the past due to erroneous information being provided and supplied to outside lenders. A good brokerage house can get businesses funded easily simply because the have a thorough understanding the underwriting process and access to many different lenders to match your needs. You should also know that some broker houses could even syndicate deals, which is good because it can grow the total approval amounts.
Also, a great broker should stop your deal from getting submitted to multiple lenders. You see, when an application is shopped around, it can damage your credit score even more. Choosing a trustworthy alternative lending institution like First Choice Business Capital will protect you from all of this.
If You Need a Bad Credit Business Loan, Call Us Right away
It is not necessary for you sit around and wait until your credit score improves before you apply for a loan. Instead, you can get a approved quickly with these alternate lending options. Do you truly want to let this opportunity pass you by? Of course not! There is a quick and easy application that can be filled in online right now, and agents are expecting your call. It’s just a simple, one-page application and a few minutes of your time. Fill it out online or call us today!