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!
Business Loans Bad Credit In Sugar Land, TX
Are you looking for Bad credit business loans?. We know it can be so frustrating trying to get a traditional loan from a bank when your credit score is subpar. That’s why at First Choice Business Capital, we can help you get the revenue you require regardless of your credit history.
Getting A Business Loan With Bad Credit
Studies have shown that approximately 70 percent of companies will not qualify for traditional bank loans. That means that if you have been denied, you are in the majority. Banks deny loans for many reasons, but bad credit can typically be the main reason for many denials. There may also be other considerations at play, such as a tax lien against the company or a court judgment.
We all know that a business must have working capital in order to stay afloat. However, often times business will run into a situation where they need money fast and without help from the banks, they are often left feeling hopeless. Since the market debacle of 2008, it has become incredibly difficult for profitable businesses to get a bank loan. There are new requirements in place that make the procedure even more challenging than it was before the collapse.
To complicate matters, these regulations affect “Mom and Pop” type operations that have less than 50 employees. The good news is that alternative loan providers have stepped in to help solve this dilemma. High-risk lenders like First Choice Business Capital can provide quick approvals and no-nonsense funding solutions. No matter what you may have heard, there are other viable options out there for businesses beyond traditional banks when credit is a problem and we can help.
Bad Credit Business Loan Options – Sugar Land, Texas
Are you one of the businesses that are still unaware that short-term loan alternatives are possible to get you out of a bind? It’s true, unsecured short-term loan options exist for companies that find themselves in a financial crisis. Not only that, business loans are easily available, even with no collateral and bad credit. Furthermore, you can get bad credit business loans fast as First Choice Business Capital generally funds loans within 24 hours. Yes, that’s literally just one day! Need small business loans with bad credit? No worries at all!
First Choice understands this. We take great pride in helping you solve your financial emergency as quickly as possible, and we have a high approval rate as well – so chance are we can fund your business too.
Short-Term Loans and Business Cash Advances
Business cash advances and short-term loans are also known as a merchant cash advance (MCA). Getting approved for these poor credit business loans are sometimes the only factor standing between a company staying open or closing down for good. When conservative bank options do not work due to the lack of having good credit, these bad credit business loans can be a life saving opportunity for a company in dire need of finances fast. Especially since collateral is not needed for a business cash advance, and it’s easier than ever to qualify for these loans. We are happy to say that we supply unique business financing in all types of industries. At First Choice, we only require that your business has been running for three months minimum and that you are transferring between 8-10 thousand monthly.
What Are The Full Advantages of Merchant Cash Advances?
MCAs offer numerous benefits to all kinds of companies. One big advantage of a merchant cash advance loan is that it can be funded in a fraction of the time of a traditional bank loan. Believe it or not, the majority of this type of loans are approved within as little as one day. We are proud of our loan application approval rate of over 90 percent. That means you have a much better chance of being approved than you would from your own bank. Also, you won’t have to wait long to get your cash once you are approved.
In addition, merchant cash advance loans are normally paid out in less than four business days, which is also much faster than a bank. We only required the last 3-6 months of your business bank statements along with your application. With this information, an approval can be provided very quickly. That’s why these loans are just right for those that need a bad credit loan super fast. A merchant cash advance is basically a short-term business loan that can get you back on your feet again. These loans are generally paid back in less than 18 months, and some in as little as four months. Daily payments are made five days per week, not counting Saturday or Sunday and for a merchant cash advance, there are usually between 20 and 22 payments every month.
We Work With All Types of Companies
A vast array of businesses qualifies 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 Services, Heating and Cooling, 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. Any of these companies and many more can enjoy business loans with bad credit. First Choice can help any business that meets the requirements and has credit woes.
States We Can Assist
If your business is in one of the following states, we may be able to help you with a cash advance:
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.
Work With Legitimate Bad Credit Business Loan Providers
Whenever a business with bad credit is looking for a merchant cash advance loan or bad credit small business loan, it is always better to work with a reputable representative. That almost goes without saying but it’s important to mention because not every company in the business of lending subprime loans will have your best interest in mind. So it is best to perform your due diligence when getting a loan.
It is unfortunate when a borrower is declined as a result of a broker providing inaccurate info to a lender. A respectable brokerage house should have extensive knowledge of the industry and have your best interest at heart. They should know all the ways to get your business financed by the lenders in their network, and of course — they should have a complete understanding of the loan process. Those lenders that can syndicate the deals may even be able to grow loan amounts to get you the maximum possible loan amount. Also, You do not want your broker submitting your application to a large number of lenders. Choosing a legitimate alternative lending company goes a long way in making sure this does not occur. First Choice Business Capital understand this, and refrains from doing anything to jeopardize our client’s credit further.
Call Us Without Delay For Your Bad Credit Business Loan Needs
The reality is that it takes a long time to try to get your credit score to improve. So, why hold everything up? Especially, when you can keep your personal belongings as you don’t have to worry about having collateral. Call us today or submit the short online application to get the loan process started right now!