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 White Plains, NY
For one thing, bad credit business loans White Plains, NY are not impossible. In fact, at First Choice Business Capital, we can help you get the extra money you really need to keep your business going. Therefore, we know it can be so frustrating trying to get a traditional loan from a bank when your credit score is poor, which is why are here to help.
Business Loans 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 may find yourself in the majority. There are a lot of reasons why numerous banks refuse companies for a bank loan. Loans are denied all of the time, and unsatisfactory credit is often cited in these cases. Not to mention, companies may have a judgment or lien.
Being turned down by a bank is often disheartening, and many businesses simply give up after hearing “no.” With this in mind, a business must have working capital in order to stay afloat. When the market tanked in 2008, businesses suffered. In that case, getting a bank loan has become very difficult. Furthermore, there are new regulations in place that make the procedure even more challenging than it was before the collapse. To complicate matters, these regulations apply to “Mom and Pop” type operations that have fewer than 50 employees.
This issue has opened the doors for new type of loan options from alternative lenders. Consequently, we provide no-nonsense finances and offer a quick approval process. Therefore, there are other options in the market for businesses, beyond traditional banks, when credit is a problem.
Bad Credit Business Loan Options White Plains, NY
Most companies are not acutely aware of the options easily available to them. To point out even unsecured short-term business loans bad credit are entirely possible. That’s right, you can get business loans with weak credit. In fact, all types of businesses can achieve business loans for bad credit and that’s a fact. Looking for business loans but have bad credit? That’s not a problem at all! As a result, First Choice understands this. To demonstrate, we take pride in helping you solve your financial predicament as quickly as possible. Coupled with possessing a high approval rate, as well.
Unsecured Loans, Short-Term Loans & Business Cash Advances
This kind of alternative lending is often referred to as a merchant cash advance, also known as MCA. When conservative options do not work, due to lack of good credit, these poor credit business loans can be a terrific option for a company in dire need of financing. With this in mind, collateral is not mandated for a business cash advance, so it is easier than ever to qualify. We supply customized business financing in all types of industries. However, the only qualifying criteria we need is for your business to be older than three months and that you normally deposit at least eight thousand dollars every month.
Merchant Cash Advantage Perks
MCAs offer lots of benefits to all kinds of companies like yours. A big advantage of this type of loan is that you can get the funds you need faster than a traditional banking loan. Together with a large number of loans of this type are approved within as little as one day. Also, the approval rate for these loans is amazing. In fact, we approve over 90 percent! Do you want to know the best part? After approval, you will have the cash you need within 48-96 hours.
The loan approval process is quick and easy as well. As a matter of fact, all you need to complete is a simple one-page application form. Moreover, you should also be prepared to produce the last six months of business bank statements. With this information, we can work on approving you very fast. If you need a bad credit business loan quickly, a merchant cash advance could be just the solution you are looking for. When your business is stalling because of a lack of cash flow, this short-term business loan can get you the money you desperately need. These loans have a fixed capital cost and run from 4-18 months. You can make payments from Monday through Friday. MCA loans have between 20-22 daily payments a month.
We Coordinate with All Types of Companies
All sorts of companies can get short-term business loans bad credit. Furthermore, there is a large variety of businesses that merchant cash advance companies like to work with. Some of the most common niches include: Beauty Shops, Tire Shops, Carpentry, Construction, Masonry and Stonework, Driveway and Parking Pavement, HVAC Systems, Gasoline Service Stations, General Building Contractors, Automotive/Mechanic Repair Shops, Wrecking and Demolition companies, Vehicle Body Repair and Painting, Home Health Services, Interior Decorators, Pest Control, Bars and Restaurants, Rigging and Scaffolding, Water Well Drilling and Trucking. There are much more company niche markets that can be serviced with business loans with bad credit. As you saw 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 We Can Assist!
Merchant cash advances are also easily available 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.
Working with a Trusted Representative of Bad Credit Business Loans
Another key point to is there are unethical companies in this industry, preying on those looking for bad credit small business loans. With this in mind, it is essential to ensure that you only deal with reputable brokers. You should be careful, as navigating through all the different lending institutions can be a little bit tricky. Often times lenders accidentally provide the wrong information to financial institutions, which causes loan rejection for borrowers.
A respectable brokerage house should have extensive knowledge of the industry. In addition, they should know exactly how to get businesses funded by the lenders available to them, and they should have a complete knowledge of the process. Again, you should know that some broker houses could even syndicate deals, which can boost the total approval amounts. Also, a great broker should stop your deal getting submitted to multiple lenders. Generally speaking, deals that are shopped to multiple lenders can really hurt the borrower’s credit score. Under those circumstances, it is imperative that you work with an alternative lending company like First Choice Business Capital for your business loans when you have a below average credit rating.
Call Us without delay for your Bad Credit Business Loan Needs
On the whole, it takes a long time for your credit score to improve. Why linger around waiting for it to improve? You don’t need to let any business opportunity pass you by, and don’t have to give up 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!