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 in Lubbock, TX, With Bad Credit
Bad credit business loans fast are not a fabrication. At First Choice Business Capital, we can help you get the capital you require in Lubbock, TX.Traditional banks often turn down 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.
What’s the Truth About Business Loans With Bad Credit?
Businesses with bad credit get denied for loans more often than not and bad credit can be the main reason for many denials.There could possibly also be tax liens against the company, and court judgments can affect the outcome too.
Regulations established after that time have cut availability to capital for a considerable amount of companies. Regrettably, it is not the large corporations suffering the brunt of these new laws.The majority of companies today do not qualify for bank loans. In fact, studies have shown that only 30 percent of businesses would get approved!To complicate matters, these regulations apply to “Mom and Pop” type operations that have less than 50 employees.
Alternate financial institutions have stepped in to help solve this dilemma, since a business must have capital in order to stay profitable.Once a bank turns down a loan, the business often gives up the search for funds. Still, there are other options.There are choices for business cash advances from organizations like First Choice Business Capital. We provide practical financing and offer a quick approval process.By using the alternate capital options available, it is true that a business with bad credit can get loans.
Business Loan Options Bad Credit in Lubbock, TX
It is a pity that many individuals do not know their options. Small, medium and even large companies can qualify for uncollateralized loans. Even with bad credit, it is quite possible to get approved right now. You can get approved for the business loans with poor credit you need, as quick as tomorrow. Yes, just 1 day! First Choice not only has a high approval procedure, but a simple one as well. We understand the dire need to obtain the working capital you need. We also know that you need the money now, and pride ourselves in assisting you get financed as fast as possible.
Short-Term Loans and Business Cash Advances
Alternate lending such as these are often referred to as a merchant cash advance, or MCA. Poor credit business loans are a true lifesaver for those companies that have been turned down by banking establishments because of their credit score. You do not even really need collateral in order to qualify for an MCA. We offer custom lending for businesses in all types of industries. We only require that your business has been operable for three months minimum and that you transfer between 8-10 thousand dollars monthly.
Perks of Merchant Cash Advances
MCAs offer several advantages to all types 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. You can be approved for this type of loan in only one day. The approval rate for these loans is incredible. In fact, over 90 percent of applications are approved! The best part? Immediately after you are approved, you will have the cash you need within 48-96 hours. You do not have to go through an extensive loan process, either. The application is only one page and the last six months of banking statements will need to be supplied. That is all we need to begin the approval process on your loan.
These loans are suitable for those that need a bad credit business loan fast. A merchant cash advance is a short-term business loan that can get you working again. These loans are generally paid back in fewer than 18 months, some as little as four 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 Collaborate with Many Businesses
A large 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: Home Health Providers, 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, Night clubs and Restaurants, Beauty Shops, Carpentry, Construction, Driveway and Parking Pavement, Gasoline Service Stations and General Building Contractors. There are a lot more company areas that can be serviced with business loans bad credit. If you meet the criteria we pointed out previously, First Capital can work with you.
Are You in One of These States? We Can Help!
Merchant cash advances are provided to business organizations 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 Professional Representative of Bad Credit Business Loans
For companies with below average credit looking to secure small business loans bad credit, always check the reputation of the agent. Not all them will have your best interest at heart. Borrowers are sometimes declined because the wrong information is provided to financial institutions by the brokerage firm. It is important that the brokerage firm has an in-depth understanding of the underwriting process. They ought to know their lenders well and have the capacity to guide the borrower through the process.
When brokerage houses can syndicate, they may have the opportunity to secure more money on the business loans for bad credit. What you do not want is for the broker to shop your deal around. It should not be submitted to many lenders. Choosing a legitimate alternative finance company goes a long way in making sure this does not occur. First Choice Business Capital knows this, and would refrain from doing anything to damage our client’s credit further.
Got Bad Credit Business Loan Needs? Call Us!
It takes a long time for your credit score to improve. Why hang around and wait for it to get better? Keep your personal belongings – you don’t have to worry about not having enough collateral. Change the direction of your business by consulting with us now!
First Choice Business Capital
Lubbock, 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