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 Queens, NY
If you’ve been searching everywhere to get bad credit business loans Queens, NY after being turned down by the bank, look no further; First Choice Business Capital can help you today. At First Choice, we realize how aggravating it can be if you have a low credit score and you’ve been getting declined by numerous banks for backing. That’s precisely why we have dedicated ourselves to making business-funding choices readily available in the market to all types of companies regardless of a bad credit history
Getting a Business Loan With Bad Credit – The Inside Scoop
If you feel you are alone in this plight, you may be surprised to know that you are not. Recent studies have shown that less than a third of all businesses are ever approved for a loan from a traditional banking institution. In other words, businesses with bad credit get denied for loans more often than not. But, poor credit alone is just one of the prime reasons that banks can deny business loans. A company could also have tax liens or judgments against them. Businesses with bad credit more often than not give up after they are declined for a bank loan. It’s not surprising as being turned down by a bank is often disheartening, and many businesses simply feel they have no other choice but to give up after hearing “no” from the bank.
Giving up hope is a terrible mistake since working capital is the foundation on which every company operates. When a company does not have easy access to cash they need, we can tell you from many business we speak to… they are not going to be able to stay in business long at all. In 2008, the economic situation tanked, and ever since then, even those companies that are actually making a profit have had a hard time securing loans from any bank. Since the collapse, gaining access to capital has become even a bigger challenge due to new regulations set forth. These new standards apply for all small and medium size companies with 50 or less employees.
Although this situation is a huge burden to those businesses needing funding, it has actually opened the doors for alternative lenders to step in to provide much-needed services. If you are interested in a simple loan process that does not take the traditional route, a high-risk lender like First Choice Business Capital is your answer. We can provide you with the cash you need, faster than you ever thought possible. So despite of what you may have heard from the banks or elsewhere, it is undeniably true and not just a fabrication that businesses with bad credit can get the finances they need quite easily just by leveraging the various alternative-lending possibilities available to them.
Bad Credit Business Loan Options Queen, NY
Most companies are not aware of the business loan funding options available to them. Even unsecured short-term business loans bad credit is achievable to all kinds of businesses. That’s correct, unsecured short-term loans are attainable to businesses much like yours. We understand where you are coming from; it could be that you are fearful because you have no collateral and bad credit. It’s not an issue; there are still business loans you can qualify for despite your credit history.
Even with poor credit, you can secure business funding without going to the traditional banks. In fact, business loans for bad credit are available for all types of businesses and that’s not fiction, it’s reality. Business loans for bad credit are provided for all sorts of businesses in Queens. Small business loans bad credit? That’s no problem at all! When a business needs working capital, they always need it right away. First Choice recognizes this need, which is why we offer such swift approvals.
Short-Term Loans, Unsecured Loans & Business Cash Advances
These funding types of offerings are known as a merchant cash advance (MCA). These poor credit business loans are extremely important because sometimes it’s the only factor standing between a company remaining open or closing it’s doors for good. Poor credit business loans are a true Godsend for those companies that have been turned down by banking establishments because of their credit score history.
Since collateral is not needed for a business cash advance, it is easier than ever to qualify. This factor makes the approval process even easier and more appealing! You should know, we do not deliver start-up loans, because you must have a business that has been running for a minimum of three months. Aside from that, we will just need to see that you have deposited a minimum of eight thousand dollars each of the past three successive months.
Advantages of Merchant Cash Advances
There are quite a few advantages to MCAs as merchant cash advances offer many benefits to all kinds of companies. For one, these loans are funded much quicker than those from traditional banks. As a matter of fact, most of these loans are approved in just 24 hours. Plus, the approval rate of these loans is humongous compared to typical bank loans. Believe it or not, over 90 percent of these business loans are approved at First Choice. We proudly claim that we have such a high approval because it means you have a much better chances of being approved than you would at any bank!
Another advantage, you will not have to wait long for your cash once approved. These loans are typically paid out in less than four business days, which is way faster than traditional banks. Finally, the procedure to get approved is easy, too. The application form is only one page. You should provide your business’s last six months of bank statements available, too. That’s all we need to begin the approval process on your loan.
Merchant cash advance loans are most suitable for those that need a bad credit loan fast. For example, if your business is slowing because of a lack of cash flow, this short-term business loan can get you the money you so desperately need right away. MCA loans have a fixed capital cost and run from 4-18 months; daily payments are made five days per week, not counting Saturday or Sunday. For a merchant cash advance, there are usually between 20 and 22 payments every month.
We Partner with All Types of Companies
All sorts of companies can get short-term business loans bad credit. First Choice loves to help all kinds of companies and we can help you too. The following niche markets are just some of the businesses we work with: Automotive/Mechanic Maintenance and repair Shops, Auto Body Repair and Painting, Bars and Restaurants, Beauty Shops, Carpentry, Building, Driveway and Parking Pavement, Fuel Service Stations, General Building Contractors, Home Health Providers, HVAC, Interior Decorators, Masonry and Stonework, Pest Control, Rigging and Scaffolding, Tire Shops, Truck, Water Well Drilling, Wrecking and Demolition companies and more. These types of companies and many more can have business loans with bad credit. As you saw before, the application process is easy and the criteria minimal. If you have credit problems affecting your ability to obtain a loan, First Capital can help.
States We Deal With
Merchant cash advances are also easily available 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 Trustworthy Broker of Bad Credit Business Loans
When seeking to get bad credit small business loans, you should be positive that you are working with a respectable broker. The sad reality is that not all of them will have your best interest at heart. Some pitfalls include borrowers that are accidentally declined based on the broker providing the wrong information to the available lenders for review. Needless to say, a respectable brokerage house should have extensive knowledge of the industry. They should know how to get businesses financed by the lenders available to them, and they should have a comprehensive understanding of the lending process.
For example, some lenders may be able to syndicate the deals, which may even enhance your loan amounts and could mean more funds available to you. You do not want your broker submitting your application to a ton of lenders mostly because deals that are shopped to a wide range of lenders can essentially hurt the borrower’s credit score. This is why it is critical that you work with an alternate lending company like First Choice Business Capital for your business loans if you’re credit rating is less than stellar and you want to be certain you are dealing with a reputable lender.
Got Bad Credit Business Loan Needs? Call Us!
Why wait for your credit score to get better when you don’t have to? In fact, you don’t even need to stress about collateral. This is a total no-brainer and provides tremendous opportunities for your business to get the funds you need right away, instead of later.
The simple application can be completed online right now with a few clicks of a button, and agents are anticipating for your call. So don’t wait any longer, you can get this process started right now by filling out the simple online loan application. It is available for you online, or if you prefer to discuss your options, you can call us today!
First Choice Business Capital
Queens, NY, United States
Communities we serve:
11361, 11362, 11363, 11364, 11354, 11355, 11356, 11357, 11358, 11359, 11360, 11365, 11366, 11367, 11412, 11423, 11432, 11433, 11434, 11435, 11436, 11101, 11102, 11103, 11104, 11105, 11106, 11374, 11375, 11379, 11385, 11691, 11692, 11693, 11694, 11695, 11697, 11004, 11005, 11411, 11413, 11422, 11426, 11427, 11428, 11429, 11414, 11415, 11416, 11417, 11418, 11419, 11420, 11421, 11368, 11369, 11370, 11372, 11373, 11377, 11378