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!
Can I Get a Business Loan If I Have Bad Credit in Beaverton, OR?
Are you trying to find bad credit business loans in Beaverton, OR? If you want an immediate and hassle-free approach, First Choice Business Capital can assist you today! Here at First Choice, we understand the irritation and disappointment that getting 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.
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! We pride ourselves in really helping companies get the funds they need regardless of what your credit history looks like, and we have many alternatives that we can deliver.You may be shocked to learn that only 30 percent of businesses qualify for a bank loan – which means you are not alone!
Once a bank turns down a loan, the business often gives up the search for capital. Even so, there are other options. A business must have capital in order to stay profitable.When a company does not have easy access to cash, they are not going to be able to stay in business for long at all. In 2008, the economic climate caved in, and ever since even those companies that are making money have had a hard time securing bank loans.There are new rules in place as well that make the task even more challenging than it was before the collapse.
The ones impacted are the small and medium-sized entities, those employing less than 50 workers.This is quite the dilemma, yet it has opened the market up for different lending options. High-risk lenders like First Choice Business Capital can surely provide quick approvals and no-nonsense funding solutions. We even offer 24-hour approvals! It really is true that businesses with subprime credit can get the amount of money they need to have. When traditional routes fail, alternate financial institutions can offer the assistance needed.
Beaverton, OR, Bad Credit Business Loan Options
It is a pity that many folks do not know their options. But the good news is, there actually are – and the best part is, they are unsecured! Yes, you can get business loans with subpar credit. Business loans for bad credit are our field of expertise! Less than excellent credit does not equal a denial. We deliver business loans with poor credit. First Choice Business Capital ordinarily funds loans within 24 hours. Yes, just 1 day! Small business loans bad credit? Nothing to it at all! Yup! When a business needs working capital, they need it now. First Choice understands this need and offers simple approvals.
Short-Term Loans and Business Cash Advances
These types of offerings are known as a merchant cash advance (MCA). These business loans for poor credit are sometimes the only factor standing between a company continuing to be open or closing for good. When a traditional bank turns down a loan, these can give the money required to stay doing business. If you’re a business with poor credit, you don’t need to have collateral. We provide funding for an assortment of industries as well, so it is extremely possible we would be able to assist you. If you have deposited somewhere between 8-10 thousand dollars pretty much every month for the last three months, and have been functional for at least that amount of time, we can assist you!
What Are the Merits of Merchant Cash Advances?
MCAs offer a number of conveniences to all kinds of companies like yours. One of the primary advantages of a loan of this sort is how quickly it is funded; it is really fast in comparison to a loan from a bank. Roughly 90 percent of these loans are approved. And finally, these loans are generally funded in 48-96 hours after approval. The loan experience is pain-free, too. All that is requested to be submitted is one simple page.
Have your business’s last six months of bank statements ready, too. A merchant cash advance is an excellent solution for companies that need cash in a flash. These business loans bad credit are considered short-term business loans. The loans have a fixed cost of capital. They usually are paid within four months to a year and a half. 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. The list below is a smattering of the types of businesses we want to hear from: Automotive/Mechanic Repair Shops, Wrecking and Demolition, Car or truck Body Repair and Painting, Water Well Drilling, Night Clubs and Restaurants, Trucking, Beauty Shops, Tire Shops, Carpentry, Rigging and Scaffolding, Construction, Pest Control, Driveway and Parking Pavement, Brickwork and Stone, Gasoline Service Stations, Interior Decorators, General Building Contractors and Home Health Professionals. Any of these companies and many more can acquire business loans with bad credit. First Choice can help any business that meets the qualifying criteria and has credit woes.
States We Collaborate with
Merchant cash advances are readily 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.
Working With a Dependable Finance Broker of Poor Credit Business Loans
It is important to exclusively work with reputable providers when trying to get hold of bad credit small business loans. It may be quite challenging deciding which institution to go with, and there are lots of them. 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. Borrowers are sometimes declined because the wrong information is provided to lending institutions by the brokerage firm. It is really important that the brokerage firm has an in-depth understanding of the underwriting process.
They must know their lenders well and have the opportunity to guide the borrower through the process. When brokerage houses can syndicate, they may have the ability 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 sent in tandem like this can make your credit score take a plunge even further. You do not want this to happen, specifically when a low credit score is why you are shopping for alternative lending in the first place. Deciding on a good lending house like First Choice Business Capital will save you this heartache.
Get in Touch with Us Today 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, so do not let it pass you by. And don’t worry about collateral – you don’t need it to obtain bad credit business loans fast. Change the direction of your business by getting in touch with us right now!