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!
A Business Loan With Bad Credit in Midland, TX – Is it Really Possible?
Are you trying to find bad credit business loans fast in Midland, TX? If you want a fast and hassle-free choice, First Choice Business Capital can really help you today! Here at First Choice, we understand the irritation and unnecessary aggravation that getting denied for loans from traditional banks can cause.
The Facts About Receiving a Business Loan With Bad Credit
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. Banks deny loans to companies with bad credit for a wide range of reasons. It is true that one of the main reasons that denials occur is just simply when a business has bad credit.This is quite the dilemma, yet it has opened the market up for different lending options
Getting denied is demoralizing, and many companies surrender their hopes for a loan once the bank denies them. The core of every business is its capital. When the overall economy tanked in 2008, businesses suffered. From that time on, gaining access to capital has become a problem because of new regulations.They apply to small and medium-sized entities. This means that those companies with under 50 employees are the ones affected.
If you are interested in a loan solution that does not take the traditional route, a high-risk lender like First Choice Business Capital can provide the finances you need, faster than you ever thought possible. We even offer 24-hour approvals! It really is true that businesses with subprime credit can get the cash they really need. When traditional routes fail, back-up loan companies can deliver the assistance needed.
Options Are Available in Midland, TX, for Bad Credit Business Loans
Most companies are not acutely aware of the solutions easily available to them. Even unsecured short term business loans bad credit are attainable. Unsecured short-term loan options do exist for companies in your predicament! Bad credit aside, you can secure business loans with subpar credit. These business loans for bad credit are not just for certain types of companies, either. First Choice Business Capital usually funds loans within 24 hours. Yes, just 1 day! Small business loans bad credit – really? Yes, you’re really not dreaming! You don’t need the money next week. You need it now. First Choice knows that businesses in need require money now, so we pride ourselves on a high approval percentage that occurs quite quickly.
Business Cash Advances, Short-Term Loans and Unsecured Loans
You may have heard of these types of alternate loan options, which are also considered as merchant cash advances or MCAs. When conservative options do not work due to lack of great credit, these poor credit business loans can be an awesome business opportunity for a company in terrible need of funding. Since collateral is not required for a business cash advance, it is easier than ever to qualify. This makes the approval procedure even easier! We do not provide start-up loans, so you should have a business that has been functioning for a minimum of three months. In addition to that, we will definitely need to see that you deposit a minimum of eight thousand dollars for the past three successive months.
Merchant Cash Advances Strengths
MCAs offer many advantages to all kinds of companies like yours. One of the primary advantages of business loans with poor credit of this sort is how quickly it is funded; it is really fast in comparison to a loan from a bank. You can be approved for this type of loan in only one day and the loan experience is smooth, too. All that is involved to be submitted is one simple page and you will also need to provide bank statements from the last six months. This is the only thing that is needed to get you approved quickly.
These loans are most suitable for those that need a bad credit loan fast. A short-term business loan in the form of a merchant cash advance is quite likely just what you need. These loans, which usually range from 4 to 18 months, have a fixed cost of capital. With an MCA, there are usually 20-22 payments each month and you can make your payments on each business day.
We Deal with All Types of Companies
Business loans bad credit can be received by many types of businesses, since a merchant cash advance company like First Choice will not discriminate based on business type. The following markets are just some of the businesses we work with: Home Health Services,Heating and Air, 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, Bars and Restaurants, Beauty Shops, Carpentry, Construction, Driveway and Parking Pavement, Gasoline Service Stations and General Building Contractors. There are a lot more company niche markets 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 problems affecting your ability to obtain a loan, First Capital can help.
States We Can Assist!
Merchant cash advances are available in the market 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 Reliable Finance Broker of a Bad Credit Business Loan
There are shady companies in this industry, preying on those looking for bad credit small business loans. Considering this, it is essential to ensure that you only deal with reputable brokers. There are numerous different lending institutions, so you have to navigate carefully. Borrowers have accidentally been declined in the past due to erroneous information being given by intermediaries to their lender of choice. It is imperative that the brokerage firm has an in-depth understanding of the underwriting process. They have to know their lenders well and have the ability to guide the borrower through the process.
Brokers may also be able to syndicate deals, meaning more funding for your company. That being said, you want to ensure that your loan application is not shopped around. When your credit rating is substandard, the very last thing you would like is it being lowered even more because of your broker’s activities. Choosing a reliable alternate loaning 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 mess up our client’s credit further.
If You Are In Need of a Bad Credit Business Loan, Do Not Delay – Contact Us Today
It takes a long time for your credit score to improve. Why hang around and wait for things to get better? The quick and easy application can be submitted online right now, and brokers are expecting 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
Midland, 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