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 Loan In Baytown, TX
We understand that that having a less than stellar credit score can hamper your chances for a business loan from a traditional bank. That’s why First Choice Business Capital’s main focus is providing fast and convenient bad credit business loans in Baytown, TX for all kinds of businesses that need financial help.
Acquiring A Business Loan With Bad Credit
You are most likely feeling discouraged from being denied by the banks, but we can help. We pride ourselves in helping companies get the funds they need (regardless of what your credit history looks like) and we have many options to fit your situation.vvBanks deny loans to companies with bad credit for a vast range of reasons. One of the main reasons that denials occur is basically when a business has a bad credit history. Being turned down by a bank is often disheartening, and many businesses simply give up after hearing “no.” However, that is the wrong thing to do as you have other options to explore.
When the economy tanked in 2008, most businesses suffered. Since then, getting a bank loan has become nearly impossible to businesses that really need it most. There are new bank rules and regulations in place as well that make the process even more challenging than it was before the collapse. To complicate matters, these regulations apply to “Mom and Pop” type operations that have less than 50 employees. This is quite the dilemma, yet it has opened the market up for different lending options like what you’ll find here at First Choice Business Capital.
Business cash advance and high-risk loan providers such as First Choice Business Capital are readily available to provide you with a quick no-nonsense financing approach and can get you quick approvals for your next business loan. So despite of what you may have heard, businesses with bad credit can easily get the finances they need by leveraging the various alternative-lending choices available to them.
Bad Credit Business Loan Options In Baytown, TX
Are you are one of the businesses that are not aware that many short-term loan alternatives are available when you’ve been turned down by the bank? Unsecured short-term loans are made accessible to all types of businesses; including yours!
Perhaps you are feeling a bit nervous because you have no collateral and you have bad credit. It’s perfectly ok… there are still loans available for businesses that find themselves in trouble due to poor credit. Rest assured, there are many options available and you can obtain business loans with bad credit. In fact, business loans for bad credit is what we specialize in here at First Choice Business Capital. Not all alternative lending institutions offer bad credit business loans fast, like First Choice Business Capital.
We also understand that when a business needs working capital, they need it “yesterday”. That’s why we are pleased to offer loan approval in just 24 hours and funding in just a few days in many cases. So If you’re looking for small business loans bad credit — look no further.
Short-Term Loans and Business Cash Advances
Alternative lending such as short-term loans and business cash advances are often referred to as a merchant cash advance, or MCA. These bad credit business loans are great for the majority of businesses that just can’t get old-fashioned financing due to their bad credit history.
Since having collateral is not mandated for a business cash advance, it’s easier than ever to qualify for an MCA. We provide funding for a multitude of industries as well, so it is really likely we would be able to assist you if you qualify and meet our simple requirements. For example, If you have deposited between 8-10 thousand each month for the last three months, and have been in business for that same amount of time, we can definitely help you!
Merchant Cash Advance – Why You Probably Want This!
Are you thinking about applying for a merchant cash advance? You should as there are quite a few advantages to MCAs. One of the biggest benefits about these types of loans is that it delivers incredibly fast funding compared to that of a traditional bank. Not only that, roughly 90 percent of these loans are approved. And finally, these loans are generally funded in just 48-96 hours after approval.
As you can imagine, the approval rate for these loans is extraordinary and the best part? The moment approved, you will have the cash you need within a couple of days. You do not have to go through a time-consuming loan process, either. A simple 1 page application along with the last 3-6 months of your business bank statements is all that’s needed. With this information, an approval can be signed off on very quickly.
A merchant cash advance is a great solution for companies that need cash fast. These loans are considered short-term business loans and they 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.
Some Businesses We Team Up With?
All sorts of companies can get short-term business loans bad credit. First Choice loves to help all kinds of companies. Here is a sampling of the types of companies we collaborate with:
Automotive/Mechanic Repair service Shops, Auto Body Repair and Painting, Night clubs and Restaurants, Beauty Shops, Carpentry, Construction, Driveway and Parking Pavement, Gas Service Stations, General Building Contractors, Home Health Providers, HVAC, Interior Decorators, Brickwork and Stone, Pest Control, Rigging and Scaffolding, Tire Shops, Trucking, Water Well Drilling, Wrecking and Demolition companies and more.
These markets (and more) are qualified for business loans with bad credit. As mentioned earlier, the application process is easy and the criteria is quite minimal. If you have credit concerns affecting your ability to obtain a loan, Contact us right away as First Choice Business Capital can definitely help.
What States We Partner With
Merchant cash advances are offered to business organizations in the following states:
Alaska, Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wyoming and Wisconsin.
Only Consult With Trusted Bad Credit Business Loan Brokers
It is important to only work with reputable loan representatives when trying to get bad credit small business loans. It may be a little tricky deciding which institution to go with, as there are numerous to choose from. Did you know that a lot of times borrowers are inadvertently declined based on providing the wrong information to the lenders. That’s why it is really important that the brokerage firm has an in-depth understanding of the underwriting process. They ought to know their lenders well and have the opportunity to guide the borrower through the process.
You should also know that some brokerage houses can even syndicate offers, and this can increase the total approval amounts, which can be a good thing for you. Also, a good broker should not submit to multiple 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. Picking a professional lending house like First Choice Business Capital will save you from this heartache.
If You Need a Bad Credit Business Loan, Do Not Delay… Call Us Today
There is no need to wait for your credit score to strengthen before you apply for a business loan. Remember, you do not need to put up your personal possessions as collateral, and most importantly, you do not need good credit. Having access to business funds when you’ve been turned down by a bank is truly a great business opportunity that is just way too good to pass up. You can get this process started right now by filling out the simple application form. It is available here online, or if you prefer to discuss your options, you can call us today!