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 in Provo, UT, With Bad Credit
Bad credit business loans are not a fallacy. At First Choice Business Capital, we can help you get the resources you need to get in Provo, UT. We understand that having a less than stellar credit score can hamper your chances for a business loan from traditional banks.
What’s the Deal About Getting a Business Loan With Bad Credit?
The majority of companies today do not qualify for bank loans. In fact, studies have shown that only 30 percent of businesses would get approved! Poor credit alone is one of the prime reasons that banks deny business loans bad credit. Although, companies may also have a judgment or lien.Once a business gets denied for a loan, they often give up all hope for funding.
We all know that without capital, a business will stagger. Keeping the doors to a business open demands capital.In 2008, the economic climate caved in, and ever since even those companies that are successful have had a hard time securing bank loans.From that time on, gaining access to capital has become a challenge because of new regulations. The companies affected by these laws 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.If you are interested in a loan process that does not take the traditional route, a high-risk lender like First Choice Business Capital can provide the funding you need, faster than you ever thought possible. No matter what you may have heard, it is certain that there are other options attainable for businesses beyond regular banks when credit is an issue.
Options Are Available in Provo, UT, for Bad Credit Business Loans Fast
It’s possible that you are one of the businesses that are not aware that short-term loan possibilities are offered. But the good news is, they seriously are – and the best part is, they are unsecured! Loans are out there, even with no collateral and terrible credit. You can get approved for the business loans with poor credit you need, as quick as tomorrow. Many different types of companies can get business loans for bad credit with the options we offer. Small business loans bad credit? Not a problem at all! Yup! When a business needs working capital, they need it now. First Choice understands this need and offers easy approvals.
Short-Term Loans and Business Cash Advances
Alternate lending such as these are often referred to as a merchant cash advance, or MCA. For companies that have been turned down for a business loan by a bank, these particular poor credit business loans offer an amazing opportunity to get funding. You do not even really need collateral in order to qualify for an MCA. We offer custom loans for businesses in all types of industries. We do not provide start-up loans, so you need to have a business that has been running for a minimum of three months. Besides that, we are going to need to see that you deposit a minimum of eight thousand dollars each for the past three successive months.
What Are the Benefits of Merchant Cash Advances?
MCAs offer plenty of advantages to all types of companies like yours. A big advantage of this type of loan is that it can be funded in a fraction of the time of a traditional banking loan. You can be approved for this type of loan in only one day. We can proudly claim an approval rate of over 90 percent, which says you have much better chances of being approved than at a bank! You will not have to wait long for your cash once approved. These loans are normally paid out in less than four business days, which is much faster than a bank. You will also need to provide bank statements from the last six months.
This is everything is needed to get you approved quickly and we can work to approve your loan application when this data is provided. A merchant cash advance can be solely what you need if you have been denied by your bank as a result of terrible credit. A merchant cash advance is a short-term business loan that can get you working again. These loans are generally paid back in fewer than 18 months, some as little as four months. Payment options are flexible for these loans, and they can be paid daily with the exception of Saturday and Sunday. Each month, there are customarily 20 to 22 payments for a merchant cash advance.
We Consult with Many Businesses
Short term business loans bad credit is offered to a myriad of company niches. At First Choice, we have worked with almost every kind of company. The list below is a sprinkling of the types of businesses we want to hear from: Beauty Shops, Tire Shops, Carpentry, Construction, Masonry and Stonework, Driveway and Parking Pavement, Heating and Cooling, Gasoline Service Stations, General Building Contractors, Automotive/Mechanic Repair Shops, Wrecking and Demolition companies, Car Body Repair and Painting, Home Health Services, Interior Decorators, Pest Control, Cafes and Restaurants, Rigging and Scaffolding, Water Well Drilling and Trucking. Business loans with bad credit can be had by these companies and many more. As you discovered before, the application process is easy and the criteria minimal. If you have credit concerns affecting your ability to obtain a loan, First Capital can help.
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 Consult with Dependable Bad Credit Business Loan Brokers
It is necessary to simply work with reputable companies when trying to get bad credit small business loans. It may be quite challenging working out which institution to go with, and there are a large number of them out there. Perform your due diligence while you wade through the loan possibilities that are readily available. There are also times when borrowers are turned down because the brokers provide the wrong information to would-be lenders A respectable brokerage house should have extensive knowledge of the industry. They should know the best way to get businesses financed by the lenders available to them, and they should have a detailed knowledge of the process.
When brokerage houses can syndicate, they may have the capacity to secure much 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. When an application is shopped around, it can damage your credit score even more. Choosing a trustworthy alternative lending establishment like First Choice Business Capital will protect you from this.
Got Bad Credit Business Loan Needs? Call Us!
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. Call us now or complete the short online application to get the process started right now!