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 Layton, UT
If you want to get a bad credit business loan in Layton, UT, First Choice Business Capital can help.We have many money options available for companies, regardless of a bad credit history. The approval process is fast as well, 24 hours in many cases!
Here’s How to Get 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 can find yourself in the majority. We pride ourselves in assisting companies get the business loans bad credit they need regardless of what your credit history looks like, and we have many solutions that we can deliver.
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. Getting denied is demoralizing, and many companies surrender their hopes for bad credit business loans once the bank denies them. A business obviously cannot keep its doors open without a cash flow.
The economy collapsed in 2008 and ever since then, it has become really tricky for companies to secure loans. New regulations enforced after the economic crash has made getting hold of capital near impossible.The companies affected by these regulations are not large corporations, but those with under 50 employees.If you are interested in a lending process 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.
Business Loan Options Bad Credit in Layton, UT
It could be that you are one of the businesses that are not aware that short-term loan possibilities are offered. Unsecured short-term loans are accessible to businesses similar to yours! It’s possible you are concerned because you have no collateral and poor credit. 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. First Choice Business Capital cannot only provide 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 sooner than you ever thought likely! Do you want small business loans bad credit? There’s nothing to it at all!
Business Cash Advances, Unsecured Loans and Short-Term Loans
These types of offerings are known as a merchant cash advance (MCA). These poor credit business loans are sometimes the only factor standing between a company remaining open or closing for good. When a traditional bank turns down a loan, these can offer the money required to stay running. You do not even really need collateral in order to qualify for an MCA. This makes the approval procedure even easier! If you have deposited roughly 8-10 thousand dollars each and every month for the last three months, and have been in service for at least that amount of time, we can really help you!
Perks of Merchant Cash Advances
MCAs offer several advantages to all sorts of companies like yours. One of the leading advantages of a loan of this sort is how quickly it is funded; it is remarkably fast in comparison to a loan from a bank. Many times, a business can have their approval in only one business day. The approval rate of these loans is massive compared to typical bank loans as well. Believe it or not, over 90 percent of them are approved!
You will not need to wait long for your money, either; most loans are financed less than four days soon after approval. The application is only one page and the last six months of banking statements will need to be supplied. A merchant cash advance is an excellent solution for companies that need cash quick. These loans are generally paid back in fewer than 18 months, some as little as 4 months. Loan repayments are made daily with the exception of Saturday and Sunday. Each month, there are customarily 20 to 22 payments for a merchant cash advance.
Some Businesses We Partner with
All sorts of companies can get short term business loans bad credit. First Choice loves to help all kinds of companies. The list below is a variety of the types of businesses we want to hear from: Automotive/Mechanic Repair Shops, Wrecking and Demolition, Car Body Repair and Painting, Water Well Drilling, Cafes 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 Providers. There are various other company niche markets that can be serviced with business loans with bad credit. First Choice teams up with any company that is suffering due to bad credit and meets the minimal criteria set forth earlier.
Are You in One of These States? We Can Help!
If your business is in one of the following states, we may be able to help you with a cash advance: 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.
Only Partner with Trustworthy Bad Credit Business Loan Brokers
There are dishonest companies in this industry, preying on those looking for bad credit small business loans. Due to this, it is imperative to ensure that you only deal with reputable brokers. Not every one of them will have your best interest at heart. It is unfortunate when a borrower is declined as a result of an agent providing inaccurate relevant information to a lender.
A respectable brokerage house should have extensive knowledge of the industry. They should know ways to get businesses financed by the lenders available to them, and they should have an in depth knowledge of the process. When brokerage houses can syndicate, they may have the opportunity to secure lots more money on the loan. What you do not want is for the broker to shop your deal around. It should not be submitted to many lenders. Choosing a trustworthy alternate financing 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 sabotage our client’s credit further.
Contact Us Right Now for Your Bad Credit Business Loan
Why wait for your score to get better? This is a tremendous opportunity for your business to get the funds you need, now instead of later. The simple application can be submitted online right now, and brokers are expecting your call. It is a simple, one-page application. Fill it out online or call us today!