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!
You Can Get a Business Loan With Bad Credit In Hillsboro, OR
First Choice Business Capital can help you acquire the bad credit business loans you may need to keep your business in Hillsboro, OR, making money, whether or not you have bad credit. We know it can be so frustrating trying to get a traditional loan from a bank when your credit score is substandard.
Important Details About Business Loans With Poor Credit
If you feel like you are alone in this situation, you may be surprised to know that you are not. Recent studies have even shown that below a third of businesses could be approved for a loan from a traditional banking institution. Businesses with bad credit get denied for loans more often than not. Bad credit can be the main reason for many denials and so can judgments or liens. Once a bank turns down a loan, the business often gives up the search for financing. Although, there are other options.
We all know that without capital, a business will break. Keeping the doors to a business open demands capital. When the market tanked in 2008, businesses suffered. Since then, getting a bank loan has become much more difficult. There are new guidelines 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.
While this is a step in the wrong direction, it has opened up a new market for those specializing in alternative funding options. At First Choice Capital, we focus in high-risk funding for those businesses that are affected by these regulations. Loaning options for businesses with bad credit is not just a pipe dream. With alternative lending choices available, it is a basic fact.
Bad Credit Business Loan Options In Hillsboro, OR
It is a pity that many folks do not know their options. But the good news is, there absolutely are – and the best part is, they are unsecured! Loans are available in the market, even with no collateral and terrible credit. These business loans for bad credit are not just for certain types of companies, either. Many different types of companies can get business loans with the options we offer. First Choice not only has a high approval procedure but a fast one as well. We understand the dire need to obtain the working capital you need. We also know that you need the money now, and pride ourselves in assisting you get bad credit business loans fast as possible.
Business Cash Advances, Short-Term Loans and Unsecured Loans
You may have heard of these types of alternate small business loans bad credit options, which are also referred to as merchant cash advances or MCAs. When conservative options do not work due to lack of great credit, these poor credit business loans can be a wonderful chance for a company in terrible need of cash. Since collateral is not required for a business cash advance, it is easier than ever to qualify. There are funding options for all sorts of companies; so no matter what marketplace you are in, we can help. We do not deliver start-up loans, so you must absolutely have a business that has been functioning for a minimum of three months. Aside from that, we would need to see that you deposit a minimum of eight thousand dollars for the past three successive months.
What Are the Full advantages of Merchant Cash Advances?
Merchant cash advances offer many conveniences to all kinds of companies. One of the leading advantages of a loan of this sort is how quickly it is funded; it is remarkably fast in comparison to a loan from a bank. Many times, a business can have their approval in only one business day. The approval rate of these loans is monumental compared to typical bank loans as well. Believe it or not, over 90 percent of them are approved!
Do you want to know the best part? Immediately after you are approved, you will have the cash you need within 48-96 hours. You do not have to go through a drawn-out loan process, either. The loan approval process is simple and easy as well. All you need to submit is a simple one-page application form and you should also be prepared to produce the last six months of business bank statements.
With this information and facts, we can work on approving you very fast. If you need a bad credit business loan quick, a merchant cash advance could be just the solution you are looking for. These loans are considered short-term business loans. The loans have a fixed cost of capital. They usually are repaid within four months to a year and a half. Payment options are flexible for these loans, and they can be paid either daily or weekly with the exception of Saturday and Sunday. Each month, there are customarily 20 to 22 payments for a merchant cash advance.
We Collaborate with Many Businesses
A large range of businesses qualify for short term business loans bad credit. Merchant cash advance companies like to work with all sorts. Here is a sampling of the types of companies we team up with: Home Health Companies, 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, Cafes 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 be given business loans with bad credit. If you meet the criteria we talked about previously, First Capital can work with you.
States We Deal with
If your business is in one of the following states, we may be able to help you with a cash advance: 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 Respectable Bad Credit Business Lenders!
There are shady companies in this industry, preying on those looking for bad credit small business loans. Considering this, it is essential to ensure that you only deal with reputable brokers. Perform your due diligence while you wade through the loan possibilities that are readily available. There are also times when borrowers are turned down because the brokers provide the wrong information to would-be lenders It is important that the brokerage firm has an in-depth understanding of the underwriting process. They should certainly know their lenders well and have the opportunity to guide the borrower through the process.
Brokers may also be able to syndicate deals, meaning more funding for your company. That being said, you want to see to it that your loan application is not shopped around. When your credit rating is substandard, the very last thing you would like is it being lowered even more because of your broker’s activities. Choosing a legitimate alternate financing company goes a long way in making sure this does not occur. First Choice Business Capital knows this, and would refrain from doing anything to sabotage our client’s credit further.
Got Bad Credit Business Loan Needs? Call Us!
You do not have to wait until after your credit score is better to get a loan. This is a business opportunity. Keep your personal belongings – you don’t have to worry about not having enough collateral. Call us right now or complete the short online application to get the process started right now!