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 Cedar Park, TX
Bad credit business loans are not a fabrication. At First Choice Business Capital, we can help you get the capital you really need in Cedar Park, TX. We understand that having a less than stellar credit score can hamper your chances for a business loan from traditional banks.
The Reality About Business Loans for Bad Credit
Once a business gets denied for a loan, they often give up all hope for funding.Studies have shown that approximately 70 percent of companies will not qualify for traditional bank loans. So if you have been denied, you may find yourself in the majority.
When a company does not have accessibility to cash, they are not going to be able to stay in business for very long. In 2008, the economic situation crumbled, and ever since even those companies that are making money have had a hard time securing bank loans.Regulations instituted after that time have cut availability to capital for a considerable amount of establishments. Regrettably, it is not the large corporations suffering the brunt of these new laws.
If you are interested in a lending process that does not take the traditional route, a high-risk lender like First Choice Business Capital can provide the funding you need, faster than you ever thought possible.
Options Are Available in Cedar Park, TX, for Business Loans with Bad Credit
It’s possible that you are one of the businesses that are not aware that short-term loan alternatives are easily available. But the good news is, they actually are – and the best part is, they are unsecured! Even with bad credit and no collateral, businesses can get loans. Less than excellent credit does not equal a denial because we provide business loans with poor credit. First Choice Business Capital cannot only give you the finances you need but provide bad credit business loans fast. Many times, backing occurs in only 24 hours. You will be putting that money to work much faster than you ever thought feasible! 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 are sometimes the only factor standing between a company remaining open or closing for good. For companies that have been turned down for a business loan by a bank, these kinds of poor credit business loans offer an amazing opportunity to get funding. These alternative loan solutions are even easier to qualify for since no collateral is required. This makes the approval procedure even easier! We only require that your business has been in service for three months minimum and that you transfer between 8-10 thousand dollars monthly.
Merchant Cash Advances Perks
MCAs offer many advantages to all kinds of companies like yours. A big advantage of this type of loan is that it can be funded in a fraction of the time of a traditional banking loan. Many times, a business can have their approval in only one business day. The approval rate of these loans is gigantic compared to typical bank loans as well.We can proudly claim an approval rate of over 90 percent, which says you have much better chances of being approved than at a bank! You will not have to wait long for your cash once approved. These loans are typically paid out in less than four business days, which is much faster than a bank.
The application is only one page and the last six months of banking statements will need to be supplied. We can work to approve your loan application when this information and facts is provided. A merchant cash advance can be merely what you need if you have been refused by your bank as a result of terrible credit. These loans are generally paid back in fewer than 18 months, some as little as 4 months. Payment options are flexible for these loans, and they can be paid either daily with the exception of Saturday and Sunday. Each month, there are customarily 20 to 22 payments for a merchant cash advance.
We Consult with All Types of Companies
Short term business loans bad credit is offered to a myriad of company niches. At First Choice, we have worked with almost every kind of company. The list below is a sprinkling of the types of businesses we want to hear from: 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, Taverns 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 receive business loans bad credit. If you meet the criteria we discussed previously, First Capital can work with you.
States We Partner with
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.
Only Partner with Trustworthy Bad Credit Business Loan Brokers
For companies with poor credit looking to secure small business loans bad credit, always check the reputation of the agent. There are lots of different lending institutions, so you have to navigate carefully. Borrowers are sometimes declined because the wrong information is provided to financial institutions by the brokerage firm. A respectable brokerage house should have extensive knowledge of the industry. They should know exactly how to get businesses financed by the lenders available to them, and they should have a complete knowledge of the process.
You will also want to ensure the brokerage firm is not showing your deal to a wide variety of lending institutions. A borrower’s credit score can be detrimentally affected when the application is shopped around 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, primarily when a low credit score is why you are shopping for alternative lending in the first place. Picking a trustworthy lending house like First Choice Business Capital will save you this heartache.
Get in Touch with Us Right Now for Your Bad Credit Business Loan
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. You do not need to put up your personal belongings as collateral, and you do not need good credit. You can get this process started right now by filling out the simple form. It is available online, or if you prefer to discuss your options, you can call us today!