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!
You Can Get a Business Loan in Utica, NY, with Bad Credit
Are you looking for bad credit business loans in Utica, NY? If you want a speedy and hassle-free remedy, First Choice Business Capital can really help you today! Here at First Choice, we understand the pain and frustration that being denied for loans from traditional banks can cause.
We understand that having a less than stellar credit score can hamper your chances for a business loan from traditional banks.
Getting a Business Loan with Bad Credit
If you feel you are alone in this dilemma, you may be surprised to know that you are not. Recent studies have even shown that under a third of businesses could be approved for a loan from a traditional banking institution.
Loans are denied all of the time, and this can occur for many reasons. Inadequate credit is often cited in these cases. A company could also have tax liens or judgments against them.
Working capital is at the soul of every business. Businesses with bad credit almost always give up after they are declined for a bank loan. We all know that without capital, a business will stagger. Keeping the doors to a business open needs capital. When a company does not have easily access to cash, it is not going to be able to stay in business long at all.
In 2008, the economic climate caved in, and since then even those companies that are successful have had a hard time securing bank loans. There are new requirements in place as well that make the procedure even more challenging than it was before the collapse. This applies for small and medium size companies with 50 or less employees.
This situation has opened the doors for new types of loan options from alternative lenders.
Business cash advance and high-risk loan providers, such as First Choice Business Capital, are immediately available to provide you with a quick, no-nonsense financing approach and getting you quick approvals for your business loan.
No matter what you may have heard, it is certain that there are other options easily available for businesses, besides standard banks, when credit is a problem.
Bad Credit Business Loan Options
Most companies are not acutely aware of the choices accessible to them. Even unsecured, short-term business loans bad credit are attainable. Loans are available, even with no collateral and negative credit.
You can get approved for the business loans with poor credit you need, as soon as tomorrow. Business loans for bad credit are given for all sorts of businesses in Utica It is also true that you can get bad credit business loans fast. With First Choice Business Capital, you can typically obtain capital within just one day!
First Choice understands this. We take pride in helping you solve your financial situation as quickly as possible, and we boast a high approval rate as well.
Business Cash Advances, Unsecured Loans and Short-Term Loans
You may have heard of these types of alternative loan options, which are also referred to as merchant cash advances or MCAs. When a traditional bank turns down a loan, these can give the money required to stay running. You do not even really need collateral in order to qualify for an MCA.
We provide funding for an assortment of industries as well, so it is extremely likely we would be able to assist you. The only qualifications we need is for your business to be older than three months and that you normally deposit at least eight thousand dollars every month.
Perks of Merchant Cash Advances
There are quite a few advantages to MCAs. One of the biggest advantages of a loan of this sort is how quickly it is funded. It is exceptionally fast in comparison to a loan from a bank. The majority loans of this type are approved within as little as one day.
The approval rate for these loans is incredible. In fact, over 90 percent of applications are approved! The best part? After approval, you will have the cash you need within 48 to 96 hours.
You do not have to go through a prolonged loan process, either. The application is only one page. The last six months of banking statements will need to be supplied. When a business needs a bad credit loan fast, a merchant cash advance is the perfect type of business loan they should try to find.
A short-term business loan in the form of a merchant cash advance is very likely just what you need. These loans, which usually run from four to 18 months, have a fixed cost of capital. An MCA can be paid possibly by the day or week. 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 Coordinate with All Types of Companies
Short-term business loans bad credit can be gotten by many types of businesses. A merchant cash advance company like First Choice will not discriminate based on business type. The following is a variety of the types of businesses we like to hear from: Automotive/Mechanic Repair work Shops, Auto Body Repair and Painting, Clubs and Restaurants, Beauty Shops, Carpentry, Building and construction, Driveway and Parking Pavement, Fuel Service Stations, General Building Contractors, Home Health Providers, HVAC, Interior Decorators, Brickwork and Stonework, Pest Control, Rigging and Scaffolding, Tire Shops, Transportation, Water Well Drilling, Wrecking and Demolition companies and more. Any of these companies and many more can acquire business loans with bad credit. As you discovered before, the application process is easy and the criteria minimal. If you have credit challenges affecting your ability to obtain a loan, First Capital can help.
States where We Do Business
Merchant cash advances are available in the market to business organizations 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.
Work Only with Reliable Bad Credit Business Lenders!
It is imperative to just deal with reputable suppliers, when trying to get hold of bad credit small business loans. It can be quite tricky determining which institution to use, and there are many. Perform your due diligence while you wade through the loan solutions that are readily available.
Sometimes borrowers are inadvertently declined based on the wrong information provided to the lenders. A legitimate brokerage understands the underwriting process. It has considerable expertise about the lenders at its disposal.
When brokerage houses can syndicate, they may be able to secure additional money on the loan. What you do not want is for the broker to shop your deal around. It should not be submitted to many lenders. Deals that are submitted 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. Choosing a trustworthy lending house like First Choice Business Capital will save you this heartache.
Call Right Now for Your Bad Credit Business Loan
You do not have to wait until after your credit score is better to get a loan. This is a business opportunity. You don’t need to let any business opening pass you by, and don’t have to surrender your personal belongings or property to use as collateral for a loan. You can get this process started right now by filling out the simple form. It is available online, or if you prefer to discuss your options, you can call us today!