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!
Getting a Business Loan With Bad Credit is Possible!
Are you trying to find business loans but have bad credit in Moore, OK? If you want an instantaneous and hassle-free solution, First Choice Business Capital can help you today! Here at First Choice, we understand the irritation and unnecessary aggravation that getting denied for loans from traditional banks can cause.
The Honest Truth About Getting a Business Loan With Bad Credit
Recent research studies show that a massive 70% of businesses don’t qualify for a bank loan. Banks deny loans to companies with bad credit for a number of reasons. It is true that one of the main reasons that denials occur is simply when a business has bad credit. Once a bank turns down a loan, the business often gives up the search for funds. Still, there are other options.
Getting denied is disheartening, and many companies surrender their hopes for a loan once the bank denies them. It’s important to realize that the core of every business is its capital.Ever since the economy collapsed in 2008, it has become extremely difficult for companies to secure loans.New regulations enforced after the economic crash has made acquiring capital nearly impossible.The entities affected by these are not large corporations, but those with under 50 employees.This predicament has opened the doors for new types of loan options from alternative lenders.
Business cash advance and high-risk lenders such as First Choice Business Capital are conveniently available to provide you with a quick no-nonsense financing approach and getting you quick approvals for your business loan.By taking advantage of the alternative loan options available, it is true that a business with bad credit can get financing.
Bad Credit Business Loan Options
Quite possibly you are one of the businesses that are unaware that short-term loan options are easily available. Uncollateralized loans are offered to small, medium and large size businesses with bad credit. That’s right, you can get business loans even when your credit isn’t that good, because less than excellent credit does not equal a denial. First Choice Business Capital in most cases funds loans within 24 hours. Yes, just one day! Do you want a small business loan, but have bad credit? No problem, because First Choice Business Capital can help you! First Choice not only boasts a high approval process but a swift one as well. We understand the dire need to obtain the working capital you need. We also understand that you need the money now, and pride ourselves in helping you get financed as fast as possible.
Short-Term Loans and Business Cash Advances
Alternate lending such as these are often referred to as a merchant cash advance, or MCA. For companies that have been turned down for a business loan by a bank, these kinds of business loans for inadequate offer an amazing opportunity to get funding. These alternative loan options are even easier to qualify for since no collateral is required. This makes the approval process even easier! The only rules needed is that the business has been operating for at least 3 months and you’re depositing around 8 -10 thousand dollars typically over the last 3 months.
Merchant Cash Advances Strengths
There are many advantages to applying for a merchant cash advance. One of the greatest 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. Most loans of this type are approved within as little as one day. The process for a loan approval is very easy. A one page simple application is everything that is needed; and we will only request the last six months of banking statements from you, because we can work to approve your loan application when this relevant information is provided.
A merchant cash advance can be simply what you need if you have been rejected by your bank because of terrible credit. A short-term business loan in the form of a merchant cash advance is more than likely just what you need. These loans, which usually range from 4 to 18 months, have a fixed cost of capital. Payments can be made either daily or weekly and are made daily from Monday to Friday. Merchant cash advances commonly have anywhere between 20 and 22 payments each month.
We Deal with Many Businesses
Short-term business loans bad credit is offered to a myriad of company niches. At First Choice, we have worked with almost every kind of company. The following particular niches are just some of the businesses we work with: Automotive/Mechanic Repair Shops, Auto Body Repair and Painting, Clubs and Restaurants, Beauty Shops, Carpentry, Development, Driveway and Parking Pavement, Fuel Service Stations, General Building Contractors, Home Health Providers, HVAC, Interior Decorators, Masonry and Stone, Pest Control, Rigging and Scaffolding, Tire Shops, Truck, Water Well Drilling, Wrecking and Demolition companies and more. There are various other company areas that can be serviced with business loans with subpar credit. First Choice can help any business that meets the requirements and has credit woes.
States We Can Serve to Help!
Merchant cash advances are accessible 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.
Trusted Companies That Offer Business Loans For Bad Credit
When a business with bad credit is looking for a merchant cash advance loan or bad credit small business loans, it is most ideal to work with a trustworthy representative. Not every company in the business of lending subprime loans will have your best interest in mind, so it is best to perform due diligence.
Sometimes borrowers are inadvertently declined based on providing the wrong information to the lenders. Respectable brokers know loans and the underwriting system well. They understand what it requires to get business capital and the amount of the credit could also be raised if the brokerage house knows how to syndicate the transaction.When brokerage houses can syndicate, they may be able to secure a lot more 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 shopped to a number of lenders can in fact hurt the borrower’s credit score, which is why it is essential that you work with an alternate lending company like First Choice Business Capital for your business loans when you’re credit rating is below stellar.
Call Us Right Away for Your Bad Credit Business Loan Needs
There is no need to hold back because of your credit score to apply for a business loan. Keep your personal belongings – you don’t have to worry about not having enough collateral. Fill out the short online application or call us as soon as possible!