You Can Get a Business Loan With Bad Credit in West Jordan, UT
First Choice Business Capital can help you acquire the bad credit business loans you require to keep your business in West Jordan, UT making money, even when you have bad credit. We understand that having a less than stellar credit score can hamper your chances for a business loan from traditional banks.
The Facts About Obtaining 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 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.”
We all know that without capital, a business will stagger. Keeping the doors to a business open needs capital.Since the economic crisis in 2008, gaining access to capital has become a challenge as a result of new regulations.They apply to small and medium-sized entities. This means that those companies with no more than 50 employees are the ones affected.
This situation is a burden to those needing funding, but it has opened the doors for alternate financial institutions to step in to provide much-needed programs.At First Choice Capital, we focus 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.No matter what you may have heard, it is certain that there are other options available in the market for businesses apart from conventional banks when credit is an issue.
West Jordan, UT, Bad Credit Business Loan Options
It is a pity that many folks do not know their options. Unsecured short-term loan options do exist for companies in your position! Loans are easily available, even with no collateral and terrible credit. You can get approved for the business loans with poor credit you need, as fast as tomorrow. First Choice Business Capital cannot only deliver you the funding 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 a lot quicker than you ever thought feasible! Small business loans bad credit? Not a problem at all!First Choice not only provides a high approval procedure but an easy one as well. We understand the dire need to obtain the working capital you need. We also understand that you need the money now, and pride ourselves in assisting you get financed as rapidly as possible.
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 continuing to be open or closing for good. When conservative options do not work due to lack of great credit, these business loans for bad credit can be a wonderful option for a company in terrible need of finance. These alternative loan solutions are even easier to qualify for since no collateral is needed. There are funding options for all sorts of companies; so no matter what business sector you are in, we can help. The only qualifying measures we need is for your business to be older than three months and that you typically deposit at least eight thousand dollars every month.
Perks of Merchant Cash Advances
There are several advantages to MCAs. For one, these loans are funded much quicker than those from traditional banks. As a matter of fact, most of these business loans bad credit are approved in 24 hours. About 90 percent of these loans are approved. You will not need to wait long for your money, either; most loans are financed less than four days right after approval. You will also need to provide bank statements from the last six months. With this data, we can work on approving you very fast.
If you need a bad credit business loan quickly, a merchant cash advance could be just the solution you are looking for. When your business is halting caused by a lack of cash flow, this short-term business loan can get you the money you seriously need. These loans have a fixed capital cost and run from 4-18 months. Loan repayments are each business day. With an MCA, there are usually 20-22 payments each month.
We Deal with All Types of Companies
A vast range of businesses qualify for short term business loans bad credit. Merchant cash advance companies like to work with all sorts. The list below is a variety of the types of businesses we want to hear from: Home Health 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. There are much more company industries that can be serviced with business loans with bad credit. As you discovered before, the application process is easy and the criteria minimal. If you have credit problems affecting your ability to obtain a loan, First Capital can help.
States We Can Assist!
Merchant cash advances are available in the market to business organizations 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.
Working With a Legitimate Representative of Poor Credit Business Loans
For companies with poor credit looking to receive a bad credit small business loans, always check the reputation of the agent. There are several different lending institutions, so you have to navigate carefully. There are also times when borrowers are turned down because the brokers provided the wrong information to potential lenders A respectable brokerage house should have extensive knowledge of the industry. They should know exactly how to get businesses financed by the lenders available to them, and they should have a complete knowledge of the process.
You will also want to ensure the brokerage firm is not showing your deal to a wide variety of lending institutions. A borrower’s credit score can be adversely affected when the application is shopped around to multiple lenders. Deals that are sent in tandem like this can make your credit score take a plunge 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. Picking a good lending house like First Choice Business Capital will save you this heartache.
Get in Touch with Us Today for Your Bad Credit Business Loan
You do not have to wait until after your credit score is better to get a loan. This is a business opportunity not to be missed. The quick and easy application can be filled in online right now, and agents are expecting your call. Call us now or submit the short online application to get the process started right now!