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 Orem, UT – Is it Really Possible?
Are you hunting for bad credit business loans fast in Orem, UT? If you want a speedy and hassle-free answer, First Choice Business Capital can really help you today! Here at First Choice, we understand the distress and aggravation that getting denied for loans from traditional banks can cause.
The Honest Truth About Getting a Business Loan With Bad Credit
If you seem like you are alone in this dilemma, you may be surprised to know that you are not. Recent studies have even shown that below a third of businesses could be approved for business loans bad credit from a traditional banking institution.Poor credit alone is one of the fundamental reasons that banks deny business loans.A company may have a court judgement against them, or there may be tax lien issues. Being turned down by a bank is often disheartening, and many businesses simply give up after hearing “no.”
A business obviously cannot keep its doors open without a cash flow. The economy collapsed in 2008 and ever since then, it has become very tricky for companies to secure loans.Regulations established after that time have cut accessibility to capital for a considerable amount of establishments. Sadly, it is not the large corporations suffering the brunt of these new laws.The companies affected by these rules are not large corporations, but those with under 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. At First Choice Capital, we are skilled in high-risk funding for those businesses that are affected by these regulations. Finance options for businesses with bad credit is not just a pipe dream.With alternative lending alternatives available, it’s the honest truth.
Options Are Available in Orem, UT for Bad Credit Business Loans
Quite possibly you are one of the businesses that are not aware that short-term loan services are easily available. But the good news is, they absolutely are – and the best part is, they are unsecured! Even with bad credit and no collateral, businesses can get loans. Less than excellent credit does not equal a denial. We deliver business loans with poor credit. First Choice Business Capital cannot only deliver you the finances you need but provide poor credit business loans fast. Many times, financing occurs in only 24 hours. You will be putting that money to work quicker than you ever thought feasible! Small business loans bad credit – really? Yes, you’re really not dreaming! You don’t need the money next week. You need it now. Yup! When a business needs working capital, they need it now. First Choice understands this need and offers fast approvals.
Business Cash Advances, Unsecured Loans and Short-Term Loans
You may have heard of these types of alternate loan options, which are also referred to as merchant cash advances or MCAs. When conservative options do not work due to lack of great credit, these business loans can be a great advantage for a company in terrible need of finances. If you’re a business with horrible credit, you don’t need to have collateral. We offer custom loaning for businesses in all types of industries. We do not provide start-up loans, so you will need to have a business that has been functioning for a minimum of three months. Besides that, we are going to need to see that you deposit a minimum of eight thousand dollars for the past three successive months.
Merchant Cash Advances Benefits
MCAs offer a lot of positive aspects to all kinds of companies like yours. Applying for a merchant cash advance absolutely has its perks. 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. You can be approved for business loans for bad credit in only one day. The loan procedure is smooth, too. All that is requested to be completed is one simple page.
The procedure to get approved is easy, too. The application form is only one page and have your business’s last six months of bank statements ready, too. A merchant cash advance is an excellent solution for companies that need cash quick. These loans are considered short-term business loans and have a fixed cost of capital. They usually are repaid within four months to a year and a half. Payment options are flexible for these loans, and they can be paid either daily or weekly with the exception of Saturday and Sunday. Each month, there are customarily 20 to 22 payments for a merchant cash advance.
We Team Up with Many Businesses
All sorts of companies can get short term business loans bad credit. First Choice loves to help all kinds of companies. Here is a sampling of the types of companies we partner with: Home Health Service 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. These sectors and more are suitable for business loans with bad credit. If you meet the criteria we talked about previously, First Capital can work with you.
States We Do Business In
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.
Trying to Find a Respectable Financial Institution of a Bad Credit Business Loan
When seeking to get bad credit small business loans, be sure that you are working with a respectable broker. Not all 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. Excellent brokers know financial institutions and the underwriting process well. They recognize what it requires to get business money.
The amount of the credit could also be raised if the brokerage house knows how to syndicate the transaction. Those lenders that can syndicate the deals may even intensify loan amounts. You do not want your broker submitting your application to a number of lenders. When an application is shopped around, it can damage your credit score even more. Choosing a trustworthy alternative lending firm like First Choice Business Capital will protect you from this.
Call Today 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. 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!