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 Gresham, OR?
Bad credit business loans are out there. At First Choice Business Capital, we can help you get the capital you really need in Gresham, OR. We know it can be so frustrating trying to get a traditional loan from a bank when your credit score is poor.
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. Bad credit can be the main reason for many denials. There could certainly also be tax liens against the company, and court judgments can affect the outcome too.
Once a bank turns down a loan, the business often gives up the search for financing. Even so, there are other options. Getting denied is demoralizing, and many companies surrender their hopes for a loan once the bank denies them. The core of every business is its capital.
It is the bedrock on which they keep operating. Ever since the economic downfall in 2008, gaining access to capital has become a challenge as a result of new regulations.
From that time on, the ones that have been impacted are the small and medium-sized entities, those employing less than 50 workers. While this is a step in the wrong direction, it has opened up a new market for those specializing in alternative funding options. There are solutions for business cash advances from companies like First Choice Business Capital. We provide practical loans and offer a quick approval process. With alternative lending choices available, it is a basic fact.
Bad Credit Business Loan Options in Gresham, OR
Quite possibly you are one of the businesses that are not aware that short-term loan alternatives are out there. Unsecured short-term loans are obtainable to businesses similar to yours! It’s possible that you are stressed because you have no collateral and horrible credit. Even with bad credit and no collateral, businesses can acquire loans. Less than excellent credit does not equal a denial. We provide business loans with poor credit. Business loans for bad credit are provided for all sorts of businesses. Some alternative loan providers offer bad credit business loans fast, like First Choice Business Capital, which is honored to offer loans in just 24 hours in many cases. When a business needs working capital, they need it now. First Choice understands this need and offers easy approvals.
Business Cash Advances, Unsecured Loans and Short-Term Loans
These types of offerings are known as a merchant cash advance (MCA). These poor credit business loans are sometimes the only factor standing between a company remaining open or closing for good. Small business loans bad credit are a true lifesaver for those companies that have been turned down by banking organizations because of their credit score. These alternative loan solutions are even easier to qualify for since no collateral is needed. We provide finances for an assortment of industries as well, so it is extremely probable we would be able to assist you. We only require that your business has been working for three months minimum and that you transfer between 8 to 10 thousand dollars monthly.
Merchant Cash Advantage Perks
MCAs offer many advantages to all kinds of companies like yours. One of the most significant advantages of business loans bad credit of this sort is how quickly it is funded; it is extremely fast in comparison to a loan from a bank. An estimate of 90 percent of these loans are approved. Lastly, these loans are generally funded in 48-96 hours after approval. You will need to provide bank statements from the last six months. This is everything that is needed to get you approved quickly and begin the approval process on your loan.
These loans are suitable for those that need a bad credit loan fast. A short-term business loan in the form of a merchant cash advance is most likely just what you need. These loans, which usually range from four to eighteen months, have a fixed cost of capital. An MCA can be paid by the day or week. Loan repayments are made daily with the exception of Saturday and Sunday. Each month, there are customarily 20 to 22 payments for a merchant cash advance.
We Collaborate with All Types of Companies
Short term business loans bad credit can be received by many types of businesses. A merchant cash advance company like First Choice will not discriminate based on business type. The list below is a small number of the types of businesses we want to hear from: Beauty Shops, Tire Shops, Carpentry, Construction, Masonry and Stonework, Driveway and Parking Pavement, Heating and Air, Gasoline Service Stations, General Building Contractors, Automotive/Mechanic Repair Shops, Wrecking and Demolition companies, Car Body Repair and Painting, Home Health Services, Interior Decorators, Pest Control, Clubs and Restaurants, Rigging and Scaffolding, Water Well Drilling and Trucking. There are many company niche markets that can be serviced with business loans with bad credit. As you discovered before, the application process is easy and the criteria minimal. If you have credit difficulties affecting your ability to obtain a loan, First Capital can help.
States We Can Serve to Help!
Merchant cash advances are provided 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.
Work Only With Trusted Bad Credit Business Lenders!
When seeking to get bad credit small business loans, be sure that you are working with an established broker. 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. It is unfortunate when a borrower is declined because of an agent providing erroneous details to a lender. A good brokerage understands the underwriting process.
They have considerable know-how about the lenders at their disposal. When brokerage houses can syndicate, they may manage to secure 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. You really want to choose a trustworthy company like First Choice Business Capital to make sure that this does not happen.
If You Are In Need of a Bad Credit Business Loan, Do Not Delay – Contact Us Today!
Why wait for your score to get better? This is a tremendous opportunity for your business to get the funds you need, now instead of later. Do not let it pass you by. And don’t worry about collateral – you don’t need it to obtain the loan. Change the direction of your business by consulting with us now!