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!
Bad Credit Business Loans – Atascocita, TX
Are you looking for bad credit business loans in Atascocita? If you want an immediate and hassle-free solution to help solve any working capital problems… No worries, First Choice Business Capital can lend you a helping hand today. Here at First Choice, we understand the stress that getting denied for loans from traditional banks can cause. Getting any type of business loans from the bank these days is difficult — simply because having a less than stellar credit score hampers your chances for a business loan from traditional banks; but not with us!
Get A Business Loan With Bad Credit – Really?
Yes really! Recent reports show, a colossal 70% of businesses doesn’t qualify for traditional a bank loan. However, we pride ourselves in helping companies get the funds they need regardless of what your credit history looks like, and we have many solutions to fit your situation.
Working capital is the foundation on which a company operates. It is the heart and soul that keeps the business functional.Working capital is the foundation on which a company operates. It is the heart and soul that keeps the business functional. Unfortunately, loans are denied all of the time, and there can be many reasons for this. A low credit score is often the main culprit, but other reasons such as tax liens and court judgments can affect the outcome as well.
New regulations implemented after the economic crash has made acquiring working capital near impossible for most businesses. This reality has hit home particularly for small and medium sized companies with 50 or less employees. Although this is quite the dilemma, it has actually opened the market up for different lending options from private lenders such as First Choice.
High-risk lenders like First Choice Business Capital can provide no-nonsense funding solutions and provide funds rather quickly. No matter what you may have heard, there really are other options available for businesses beyond regular banks when bad credit is an issue.
Atascocita, TX – Bad Credit Business Loan Options
It is a pity that many people do not know all their business loan options. Unsecured short-term loan options exist for companies in a financial predicament. Business loans are available in the market, even if you have no collateral and a terrible credit history.
Plus, you can usually get bad credit business loans super fast, which really helps when you need capital as soon as possible. Loan providers such as First Choice Business Capital can typically fund you within just 24-48 hours. So if you need small business loans and you have bad credit? It’s not a problem at all. First Choice knows that businesses in need require funding quickly, which is why we pride ourselves on our high approval percentages.
Short-Term Loans and Business Cash Advances
Business cash advances and short term loans are also known as a merchant cash advance (MCA). These types of poor credit business loans are sometimes the only factor standing between a company staying open or closing down for good. When conservative options fail due to lack of excellent credit, poor credit business loans can be the only chance for a company in dire need of finances. You don’t even need collateral in order to qualify for an MCA loan.
We provide funding for a variety of industries too, so it is quite likely we will be able to assist you as well. Unfortunately, we do not do any start-up loans. In fact, you must have a business that has been operating for a minimum of three months. Apart from that, we would need to see that you deposit a minimum of 8-10 thousand dollars each of the past three successive months.
Merchant Cash Advance
MCAs offer many advantages to all kinds of companies and it definitely has its advantages. For one, these loans are funded much faster than those from traditional banks. As a matter of fact, most of these loans are approved in 24 hours and the approval rate of these loans is huge compared to typical bank loans. Believe it or not, over 90 percent of merchant cash advances are approved!
You will not have to wait long for your money, either; most loans are funded less than four days shortly after approval. The application is only one page and you just need to provide the last six months of banking statements. When a business needs a poor credit loan fast, a merchant cash advance is an ideal type of business loan you should get. MCAs loans are considered short-term business loans as the loans have a fixed cost of capital. They usually are paid back within four months to a year and a half. You can make your payments by the day or by the week and daily payment loans are paid each business day. With an MCA, there are usually 20-22 payments each month.
We Help Businesses In All Industries
All sorts of companies can get short-term business loans bad credit. First Choice loves to help all kinds of companies. The following industries are just some of the businesses we work with:
Development, Electrical contractors, Painting, Carpentry, Roof repair, Plumbing repair, HEATING AND COOLING, Brickwork & Stonework, Driveway & Parking Pavement, Water Well Drilling, Wrecking & Demolitions, General Building Contractors, Transportation, Heavy Construction, Moving Company, Restaurants/Bars, Gasoline service stations, Interior Decorators, Rigging and Scaffold, Automotive/Mechanic Repair Shops, Auto Body repair and Painting, Tire Shops, Beauty Shops, Pest Control and Home Health Providers.
There are many more company particular niches that can be serviced with business loans with bad credit. If you meet the criteria we touched on previously, First Capital can work with you.
What States We Service
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.
Working With a Reliable Agent of Bad Credit Business Loans
When a business with bad credit is looking for a merchant cash advance loan or any type of bad credit small business loans; it is highly recommended that you try to work with a trustworthy broker such as First Choice Business Capital. If you choose to go at it alone, make sure to perform your due diligence while you wade through the loan choices that are readily available.
You may be surprised to learn that borrowers are sometimes declined simply because the wrong information was provided to lending institutions by the brokerage firm. That’s why it is essential that the brokerage firm has an in-depth understanding of the underwriting process. They ought to know their lenders well and be able to guide the borrower smoothly through the process. Those lenders that can syndicate the deals may even be able to escalate loan amounts for you.
Also, you do not want your broker submitting your application to a large number of potential lenders. Why? Deals that are “shopped” around to a number of lenders can actually hurt the borrower’s credit score. That’s why it is essential that you work with an alternate lending company with ethics and experience like First Choice Business Capital for your business loans — especially when you’re credit rating is less than stellar.
Get In Touch Today For Your Bad Credit Business Loan
Remember, there is no need to wait for your credit score to improve before you apply for a business loan. With our alternative lending options, your credit score is not an issue. So don’t let this opportunity to get working capital pass you by, especially when you don’t have to forfeit your personal belongings or property to use as collateral for a loan. Call us right now or submit the short online application to get the process started right now!