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!
A Business Loan With Bad Credit – Is it Really Feasible?
If you are planning to get a bad credit business loan in Tulsa, OK, First Choice Business Capital can help.Traditional banks often refuse funds to businesses that do not have good credit, which causes much frustration to the owners. We understand your pain. Regardless of a bad credit history, we have many business funding options available, such as cash advances, short-term loans and much more.
The Facts About Obtaining a Business Loan With Bad Credit
The majority of companies today do not qualify for bank loans. In fact, studies have shown that only 30 percent of businesses would get approved! Businesses with bad credit get denied for loans more often than not.Reasons for declined loans could be as simple as a company applying for a business loan with poor credit.A company could also have tax liens or judgments against them.
Businesses with bad credit frequently give up after they are declined for a bank loan.Working capital is the foundation on which a company operates.When the overall economy tanked in 2008, businesses suffered. Since then, getting a bank loan has become much more difficult.
New regulations implemented after the economic crash has made securing capital near impossible.They apply to small and medium-sized entities. This means that those companies with no more than 50 employees are the ones affected.
This is quite the dilemma, yet it has opened the market up for alternative lending options.At First Choice Capital, we are skilled in high-risk funding for those businesses that are affected by these regulations. Financing options for businesses with bad credit is not just a pipe dream.
Tulsa, OK, Bad Credit Business Loan Options
It’s possible that you are one of the businesses that are not aware that short-term loan possibilities are easily available. Uncollateralized loans are offered to small, medium and large size businesses with bad credit. Yes, you can get business loans with subpar credit. Business loans for bad credit are our field of know-how! What’s even better is that you can get business loans even though your credit is bad and some alternate lending institutions such as First Choice Business Capital can typically fund you within just 24 hours. Do you need small business loans, but have bad credit? First Choice not only provides a high approval procedure but an easy 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 rapidly as possible.
Business Cash Advances, Unsecured Loans and Short-Term Loans
Merchant cash advances such as this are also termed an MCA. These insufficient credit business loans are excellent for the majority of businesses that just can’t get standard financing due to their bad credit history.Since collateral is not needed for a business cash advance, it is easier than ever to qualify. This makes the approval procedure even easier! If you have deposited within 8-10 thousand dollars every single month for the last three months, and have been functional for at least that amount of time, we can help you!
Merchant Cash Advances Advantages
MCAs offer plenty of advantages to all kinds of companies like yours. For one, these loans are funded much faster than those from traditional banks. Actually, most of these loans are approved in 24 hours. The process for a loan approval is very easy, because a one page easy application is everything that is needed. You will also need to provide bank statements from the last six months.
This is everything that’s needed to get you approved quickly and we can work to approve your loan application when this relevant information is provided. A merchant cash advance can be solely what you need if you have been declined by your bank because of bad credit. Merchant cash advances are short-term business loans and they usually run from 4-18 months. These loans have a fixed cost of capital, while repayments are made daily or weekly from Monday to Friday. MCA loans have between 20-22 daily payments a month.
Some Businesses We Consult with
All sorts of companies can get brief business loans when credit is lacking. First Choice loves to help all kinds of companies. The following sectors are just some of the businesses we work with: Home Health Services, 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, Night 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 get business loans with bad credit. If you meet the criteria we pointed out previously, First Capital can work with you.
States We Can Assist!
Merchant cash advances are available 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.
Picking a Trustworthy Lender of Low Credit Business Loans
There are unscrupulous companies in this industry, preying on those looking for bad credit small business loans. Because of this, it is necessary to ensure that you only deal with reputable brokers. There are various different lending institutions, so you have to navigate carefully. There are also times when borrowers are turned down because the brokers provide the wrong information to potential lenders.
It is imperative that the brokerage firm has an in-depth understanding of the underwriting process. They ought to know their lenders well and have the ability to guide the borrower through the process. Those lenders that can syndicate the deals may even enhance loan amounts. You do not want your broker submitting your application to a number of lenders. Deals that are shopped to many different lenders can effectively hurt the borrower’s credit score, which is why it is critical that you work with an alternative lending company like First Choice Business Capital for your business loans when you’re credit rating is short of stellar.
Got Bad Credit Business Loan Needs? Call Us!
There is no need to wait for your credit score to increase to apply for a business loan. You do not need to put up your personal things as collateral, and you do not need good credit. This is a business opportunity that is just way too good to pass up. Change the direction of your business by getting in touch with us right now!
First Choice Business Capital
Tulsa, OK, United States
Communities we serve:
74103, 74104, 74105, 74106, 74107, 74108, 74110, 74112, 74114, 74115, 74116, 74117, 74119, 74120, 74126, 74127, 74128, 74129, 74130, 74131, 74132, 74133, 74134, 74135, 74136, 74137, 74145, 74146, 74172, 74141, 74171, 74182, 74183, 74184, 74186, 74187, 74189, 74192, 74193, 74194, 74101, 74102, 74121, 74147, 74148, 74149, 74150, 74152, 74153, 74155, 74156, 74157, 74158, 74159, 74169, 74170