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 Irving, TX
If you are aiming to get a bad credit business loan in Irving, TX, First Choice Business Capital can help. We have many finance options available for companies, regardless of a bad credit history. The approval process is fast as well, 24 hours in many cases!
The Facts About Obtaining a Business Loan With Bad Credit
If you seem like you are alone in this dilemma, 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 business loans bad credit from a traditional banking institution. Loans are denied all of the time, and this can occur for many reasons. Subpar credit is often cited in these cases.There could very well also be tax liens against the company, and court judgments can affect the outcome too.Being turned down by a bank is often disheartening, and many businesses simply give up after hearing “no.”
We all know that without capital, a business will break. Keeping the doors to a business open demands money.When the economic situation tanked in 2008, businesses suffered. From that time on, gaining access to capital has become a problem because of new regulations.These regulations apply to small and medium-sized entities, so this means that those companies with no more than 50 employees are the ones affected.
The good news is alternative loan providers have stepped in to help solve this dilemma.
High-risk lenders like First Choice Business Capital can easily provide quick approvals and no-nonsense funding solutions.By taking advantage of different financing options available, it is true that a business with bad credit can get funding.
Irving, TX Bad Credit Business Loan Options
It is a pity that many individuals do not know their options. Small, medium and even large companies can qualify for uncollateralized business loans for bad credit. Even with bad credit, it is feasible to get approved without delay, since less than excellent credit does not equal a denial. First Choice Business Capital cannot only give you the finance 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 quicker than you ever thought feasible! Small business loans bad credit – really? Yes, you’re really not dreaming! First Choice knows that businesses in need require capital now, so we pride ourselves on a high approval percentage that occurs quite quickly.
Business Cash Advances, Unsecured Loans and Short-Term Loans
You may have heard of these types of alternate loan options, which are also referred to as merchant cash advances or MCAs. When a traditional bank turns down a loan, these can offer the money required to stay doing business. You do not even really need collateral in order to qualify for an MCA. We offer custom funding for businesses in all types of industries. The only qualifying measures we need is for your business to be older than three months and that you typically deposit at least eight thousand dollars every month.
What Are the Benefits of Merchant Cash Advances?
Applying for a merchant cash advance most definitely has its perks. A top example of one of these advantages is how quickly a merchant cash advance is financed. Where traditional banks can take a long time, an MCA could be approved and paid in only a fraction of the time. We can proudly claim an approval rate of over 90 percent, which implies 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 commonly paid out in less than four business days, which is much faster than a bank. The loan approval process is simple and easy as well. All you need to submit is a simple one-page application form and get the last six months of business bank statements ready too. We can work to approve your loan application when this important information is provided.
A merchant cash advance can be simply what you need if you have been declined by your bank due to damaging credit. When your business is slowing as a result of a lack of cash flow, this short-term business loan can get you the poor credit business loans you seriously need. These loans have a fixed capital cost and run from 4-18 months. 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.
We Deal with Many Businesses
A large range of businesses are entitled to short term business loans bad credit. Merchant cash advance companies like to work with all sorts. The list below is a sprinkling of the types of businesses we want to hear from: Automotive/Mechanic Repair Shops, Wrecking and Demolition, Car or Truck Body Repair and Painting, Water Well Drilling, Night Clubs and Restaurants, Trucking, Beauty Shops, Tire Shops, Carpentry, Rigging and Scaffolding, Construction, Pest Control, Driveway and Parking Pavement, Brickwork and Stone, Gasoline Service Stations, Interior Decorators, General Building Contractors and Home Health Companies. These niches and more are suited for business loans with bad credit. If you meet the criteria we discussed previously, First Capital can work with you.
Are You in One of These States? We Can Help!
Merchant cash advances are offered 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.
Seeking Out a Legitimate Loan Provider of Bad Credit Business Loans
When seeking to get bad credit small business loans, be sure that you are working with a trusted broker. Not all them will have your best interest at heart. Borrowers are sometimes declined because the wrong information is provided to lending institutions by the brokerage firm.
It is vital that the brokerage firm has an in-depth understanding of the underwriting process. They must know their lenders well and have the ability to guide the borrower through 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. You really want to choose a trustworthy company like First Choice Business Capital to make certain that this does not happen.
Get in Touch with Us Today for Your Bad Credit Business Loan
It is not important for you to stall until your score improves to apply for a loan. Do you seriously want to let this opportunity pass you by? Keep your personal belongings – you don’t have to worry about not having enough collateral. Call us right now or submit the short online application to get the process started right now!
First Choice Business Capital
Irving, 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