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 Wichita Falls, TX – Is it Really Available?
If you are aiming to get a bad credit business loan in Wichita Falls, TX, First Choice Business Capital can help.Traditional banks often say no to 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 can have many business funding options available, such as cash advances, short-term loans and much more.
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’ll find yourself in the majority.Banks deny loans to companies with bad credit for a number of reasons. It is true that one of the main reasons that denials occur is just simply when a business has bad credit.There may also be other things at play, such as a tax lien against the company or a court judgment.
We all know that without capital, a business will break. Keeping the doors to a business open needs capital.When the country’s economy tanked in 2008, businesses suffered. Since then, getting a bank loan has become very difficult.There are new requirements in place as well that make the procedure even more challenging than it was before the collapse.To complicate matters, these regulations apply to “Mom and Pop” type operations that have less than 50 employees.
While this is a step in the wrong direction, it has opened up a new market for those specializing in alternative funding options.High-risk lenders like First Choice Business Capital can easily provide quick approvals and no-nonsense funding solutions.No matter what you may have heard, it is certain that there are other options attainable for businesses beyond standard banks when credit is an issue.
Business Loan Options Bad Credit in Wichita Falls, TX
It is a pity that many folks do not know their options. Unsecured short-term loans are accessible to businesses like yours! It’s possible you are concerned because you have no collateral and poor credit. There are still loans readily available for your needs, because subpar credit aside, you can get business loans with poor credit. These business loans for bad credit are not just for certain types of companies, either. Many different types of companies can get business loans bad credit with the options we offer. Small business loans bad credit? No worry at all! Yup! When a business needs working capital, they need it now. First Choice understands this need and offers swift approvals.
Business Cash Advances, Unsecured Loans and Short-Term Loans
You may have heard of these types of alternate loan options, which are also considered as merchant cash advances or MCAs. When a traditional bank turns down a loan, these can give the money required to stay running. Since collateral is not mandated for a business cash advance, it is easier than ever to qualify. We provide lending for a variety of industries as well, so it is definitely possible we would be able to assist you. If you have deposited roughly 8-10 thousand dollars every single month for the last three months, and have been in service for at least that amount of time, we can assist you !
What Are the Strengths of Merchant Cash Advances?
There are quite a few advantages to MCAs. A key 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. Many times, a business can have their approval in only one business day. The approval rate of these loans is considerable compared to typical bank loans as well. Believe it or not, over 90 percent of them are approved!
The loan procedure is simple and easy, too. All that is entailed to be completed is one simple page and you will also need to provide bank statements from the last six months. This is everything that’s needed to get you approved quickly. A merchant cash advance is an ideal solution for companies that need cash in a flash. These loans are considered short-term business loans and have a fixed cost of capital. They usually are paid within four months to a year and a half and you can make your loan payments on each business day. With an MCA, there are usually 20-22 payments each month.
Some Businesses We Consult with
A large range 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, Cafes and Restaurants, Beauty Shops, Carpentry, Building, Driveway and Parking Pavement, Fuel Service Stations, General Building Contractors, Home Health Companies, HVAC, Interior Decorators, Brickwork and Stone, Pest Control, Rigging and Scaffolding, Tire Shops, Truck, Water Well Drilling, Wrecking and Demolition companies and more. These marketplaces and more are suited for business loans with bad credit. If you meet the criteria we pointed out previously, First Capital can work with you.
States We Do Business In
Merchant cash advances are available in the market 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 Dependable Finance Broker of Bad Credit Business Loans
When seeking to get bad credit small business loans, be sure that you are working with a highly regarded broker. There are numerous different lending institutions, so you have to navigate carefully. Borrowers are sometimes declined because the wrong information is provided to lending institutions by the brokerage firm. A professional brokerage understands the underwriting process, since they have substantial expertise about the lenders at their disposal.
You will also want to ensure the brokerage firm is not introducing your deal to a wide variety of lending institutions. A borrower’s credit score can be detrimentally influenced when the application is shopped around to multiple lenders. You really want to choose a respectable company like First Choice Business Capital to make sure that this does not happen.
Get in Touch with Us Today for Your Bad Credit Business Loans Fast
Why wait for your score to get better? This is a tremendous opportunity for your business to get the poor credit business loans you need, now instead of later. You do not need to put up your personal things as collateral, and you do not need good credit. This is a business opportunity that is just way too good to pass up. It is a simple, one-page application. Fill it out online or call us today!
First Choice Business Capital
Wichita Falls, 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