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 in Grand Prairie, TX, If I Have Bad Credit?
First Choice Business Capital can help you acquire the bad credit business loans you require to keep your business in Grand Prairie, TX, profitable, even when you have bad credit.Traditional banks often refuse funds to businesses that do not have good credit, which causes much frustration to the owners. We understand your pain. Regardless of a bad credit history, we have many business funding options available, such as cash advances, short-term loans and much more.
How to Get Business Loans With Poor Credit?
If you feel 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. Bad credit can be the main reason for many denials. However, a company may have a court judgment against them, or there may be tax lien issues.
Once a business gets denied for a loan, they often give up all hope for funding.A business must have capital in order to stay profitable, because it is the basis on which to keep operating.Unfortunately, since the economic crisis in 2008, gaining access to capital has become a problem caused by new regulations.The companies affected by these are not large corporations, but those with under 50 employees.
This is quite the dilemma, yet it has opened the market up for alternate lending options. 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 cash you need, faster than you ever thought possible.
Bad Credit Business Loan Options in Grand Prairie, TX
It is a pity that many individuals do not know their options. Unsecured short-term loan options do exist for companies in your position! Yes, you can get business loans with subpar credit. Small business loans bad credit are our field of knowledge! These business loans for bad credit are not just for certain types of companies, either. First Choice Business Capital cannot only give you the finances you need but provide bad credit business loans fast. You will be putting that money to work sooner than you ever thought plausible! With First Choice Business Capital, you can usually obtain financing within just one day! First Choice takes pride in helping you solve your financial predicament as quickly as possible, and we possess a high approval rate as well.
Unsecured Loans, Short-Term Loans & Business Cash Advances
You may have heard of these types of alternative borrowing options, which are also called merchant cash advances or MCAs. When conservative options do not work due to lack of great credit, these small business loans bad credit can be an awesome option for a company in terrible need of money. If you’re a business with horrible credit, you don’t need to have collateral. We provide funding for a multitude of industries as well, so it is definitely possible we would be able to assist you. We do not provide start-up loans, so you must absolutely have a business that has been running for a minimum of three months. Besides that, we definitely will need to see that you deposit a minimum of eight thousand dollars over the past three successive months.
Merchant Cash Advantage Perks
MCAs offer a lot of positive aspects to all kinds of companies like yours. For one, these loans are funded much quickly than those from traditional banks. As a matter of fact, most of these loans are approved in 24 hours. The approval rate of these loans is enormous compared to typical bank loans as well. Believe it or not, over 90 percent of them are approved! The loan procedure is uncomplicated, too. All that is involved to be submitted is one simple page. You will also need to provide bank statements from the last six months.
We can work to approve your loan application when this information and facts are provided. A merchant cash advance can be simply what you need if you have been rejected by your bank as a result of damaging credit. A merchant cash advance is a short-term business loan that can get you going again. These loans are generally paid back in fewer than eighteen months, some as little as four months. Also, the loans have a fixed cost of capital. Daily loan payments are each business day and with an MCA, there are usually 20-22 payments each month.
We Coordinate with Many Businesses
A wide variety of businesses qualify for short term business loans bad credit. Merchant cash advance companies like to work with all sorts. Here are just a few we have worked with: Automotive/Mechanic Maintenance and Repair Shops, Auto Body Repair and Painting, Clubs and Restaurants, Beauty Shops, Carpentry, Development, Driveway and Parking Pavement, Gas Service Stations, General Building Contractors, Home Health Professionals, HVAC, Interior Decorators, Brickwork and Stone, Pest Control, Rigging and Scaffolding, Tire Shops, Truck, Water Well Drilling, Wrecking and Demolition companies and more. There are more company particular niches 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 challenges affecting your ability to obtain a loan, First Capital can help.
States We Can Really Help!
Merchant cash advances are provided 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.
Working With a Dependable Finance Broker of Poor Credit Business Loans
There are dishonest companies in this industry, preying on those looking for bad credit small business loans. Considering this, it is vital to ensure that you only deal with reputable brokers. 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 an agent provided erroneous relevant information to a lender. A respectable brokerage house should have extensive knowledge of the industry. They should know effective ways to get businesses financed by the lenders available to them, and they should have an extensive knowledge of the process.
Those lenders that can syndicate the deals may even raise loan amounts. You do not want your broker submitting your application to a lot of 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 credible lending house like First Choice Business Capital will save you this heartache.
Get in Touch with Us Today for Your Bad Credit Business Loan
You do not have to wait until after your credit score is better to get a loan. This is a business opportunity. The quick and easy application can be submitted online right now, and agents are anticipating your call. 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!
First Choice Business Capital
Grand Prairie, TX, United States
Communities we serve:
Dallas, Mesquite, Grand Prairie, Irving, Arlington, Garland, Richardson, Grapevine, Carrollton, Rowlett, Plano, Lewisville, Flower Mound, Allen, Fort Worth, Frisco, McKinney, Tyler, Longview, Wichita Falls, Abilene, Lubbock, Midland, Odessa, Amarillo, San Angelo, Waco