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 Sandy, UT – Is it Really Achievable?
Are you searching for bad credit business loans in Sandy, UT? If you want an instantaneous and hassle-free resolution, First Choice Business Capital can assist you today! Here at First Choice, we understand the irritation and aggravation that getting denied for loans from traditional banks can cause.
Do Business Loans With Poor Credit Really Exist?
Studies have shown that approximately 70 percent of companies will not qualify for traditional bank loans. So if you have been denied, you may find yourself in the majority.Banks deny loans to companies with bad credit for a vast range of reasons. It is true that one of the main reasons that denials occur is just simply when a business has bad credit. Once a business gets denied for a loan, they often give up all hope for funding.
A business naturally cannot keep its doors open without a cash flow. The economy collapsed in 2008 and since then, it has become particularly hard for companies to secure loans.Regulations established after that time have cut accessibility to capital for a considerable amount of companies. The sad thing is, it is not the large corporations suffering the brunt of these new laws.They apply to small and medium-sized entities. This means that those companies with under 50 employees are the ones affected.
Alternate financial institutions have stepped in to help solve this dilemma.If you are interested in a loan solution 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 out there for businesses apart from old-fashioned banks when credit is an issue.
Options Are Available in Sandy, UT, for a Poor Credit Business Loan
Most companies are not alerted of the choices easily available to them. Even unsecured short term business loans bad credit are entirely possible. Unsecured short-term loan options do exist for companies in your predicament! Loans are available in the market, even with no collateral and terrible credit. These business loans for bad credit are not just for certain types of companies, either. Some alternative lending institutions offer bad credit business loans fast, like First Choice Business Capital, which is pleased to offer loans in just 24 hours in many cases. Are you looking for small business loans bad credit? Yup! When a business needs working capital, they need it now. First Choice acknowledges this need and offers fast approvals.
Business Cash Advances, Short-Term Loans and Unsecured Loans
You may have heard of these types of alternate borrowing options, which are also called merchant cash advances or MCAs. When conservative options do not work due to lack of great credit, these poor credit business loans can be a great advantage for a company in terrible need of funding. These alternative loan solutions are even easier to qualify for since no collateral is required. There are funding options for all sorts of companies; so no matter what niche you are in, we can help. We do not deliver start-up loans, so you must absolutely have a business that has been running for a minimum of three months. Besides that, we definitely will need to see that you deposit a minimum of eight thousand dollars for the past three successive months.
Perks of Merchant Cash Advances
There are quite a couple of advantages to MCAs. 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. The approval rate for these loans is incredible. In fact, over 90 percent of applications are approved! The best part? Immediately after approval, you will have the cash you need within 48-96 hours.
You do not have to go through a prolonged loan process, either. The loan approval process is speedy and easy as well. All you need to submit is a simple one-page application form. Also, you should be prepared to produce the last six months of business bank statements. We can work to approve your loan application when this relevant information is provided. A merchant cash advance can be merely what you need if you have been declined by your bank as a result of poor credit. 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. Loan repayments are made daily from Monday to Friday. Merchant cash advances commonly have around 20 and 22 payments each month.
Some Businesses We Coordinate with
A large variety 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: Home Health Services, HVAC System, 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 be given business loans with bad credit. If you meet the criteria we touched on previously, First Capital can work with you.
Are You in One of These States? We Can Help!
Merchant cash advances are easily available to business entities in the following states: 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 Only With Legitimate Bad Credit Business Lenders!
When seeking to get bad credit small business loans, be certain that you are working with a trusted broker. There are lots of 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. Respected brokers know finance and the underwriting process well. They know what it requires to get business financing. The amount of the credit could also be raised if the brokerage house knows how to syndicate the transaction.
When brokerage houses can syndicate, they may manage 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. Deals that are sent in tandem like this can make your credit score take a downtrend even further. You do not want this to happen, specifically when a low credit score is why you are shopping for alternative lending in the first place. Deciding on an established lending house like First Choice Business Capital will save you this heartache.
Get in Touch with 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. You do not need to put up your personal possessions 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.