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!
Can I Get a Business Loan in West Valley City, UT, If I Have Bad Credit?
Are you searching for bad credit business loans in West Valley City, UT? If you want a speedy and hassle-free remedy, First Choice Business Capital can assist you today! Here at First Choice, we understand the concern and stress that getting denied for loans from traditional banks can cause.
What’s the Reality About Business Loans 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.Banks deny loans to companies with bad credit for a number of reasons. It is true that one of the main reasons that denials occur is just simply when a business has bad credit. Also, there may also be other elements at play, such as a tax lien against the company or a court judgement.
When a company does not have convenient access to cash, they are not going to be able to stay in business for long. In 2008, the economic situation caved in, and ever since even those companies that are successful have had a hard time securing bank 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 ones impacted are the small and medium-sized entities, those employing less than 50 workers.
This situation is a burden to those needing funding, but it has opened the doors for alternate loan companies to step in to provide much-needed solutions.At First Choice Capital, we are skilled in high-risk funding for those businesses that are affected by these regulations. Loaning options for businesses with bad credit is not just a pipe dream.By taking advantage of the different capital options available, it is true that a business with bad credit can get loans.
Business Loan Options Bad Credit in West Valley City, 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 loan options do exist for companies in your position! Loans are out there, even with no collateral and terrible credit. These business loans for bad credit are not just for certain types of companies, either. Some alternative finance companies offer bad credit business loans fast, like First Choice Business Capital, which is happy to offer loans in just 24 hours in many cases. Looking for small business loans bad credit?First Choice knows that businesses in need require financing now, so we pride ourselves on a high approval percentage that occurs quite quickly.
Unsecured Loans, Short-Term Loans & Business Cash Advances
You may have heard of these types of alternate financing options, which are also considered as merchant cash advances or MCAs. When conservative options do not work due to lack of great credit, these poor credit business loans can be an awesome chance for a company in terrible need of finances. Since collateral is not mandated for a business cash advance, it is easier than ever to qualify. We offer custom loaning for businesses in all types of industries. We only require that your business has been working for three months minimum and that you transfer between 8-10 thousand dollars monthly.
Perks of Merchant Cash Advances
Applying for a merchant cash advance absolutely has its perks. For one, these loans are funded much more quickly than those from traditional banks. As a matter of fact, most of these loans are approved in 24 hours. A lot of loans of this type are approved within as little as one day. We can proudly claim an approval rate of over 90 percent, which guarantees 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 typically paid out in less than four business days, which is much faster than a bank.
The loan approval process is simple and easy as well. All you need to submit is a simple one-page application form and you should also be prepared to produce the last six months of business bank statements. That is all we need to begin the approval process on your loan. These loans are best for those that need a bad credit loan fast. A short-term business loan in the form of a merchant cash advance is more than likely just what you need. These loans, which usually range from 4 to 18 months, have a fixed cost of capital. Daily loan repayments are each business day. With an MCA, there are usually 20-22 payments each month.
We Consult with All Types of Companies
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 small number of the types of businesses we want to hear from: Beauty Shops, Tire Shops, Carpentry, Construction, Masonry and Stonework, Driveway and Parking Pavement, Air Conditioning, Gasoline Service Stations, General Building Contractors, Automotive/Mechanic Repair Shops, Wrecking and Demolition companies, Vehicle Body Repair and Painting, Home Health Services, Interior Decorators, Pest Control, Night Clubs and Restaurants, Rigging and Scaffolding, Water Well Drilling and Trucking. These business sectors and more are suitable for business loans with poor credit. If you meet the criteria we discussed previously, First Capital can work with you.
States We Can Serve to Help!
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.
Working With a Legitimate Agent of a Poor Credit Business Loan
It is essential to simply work with reputable providers when trying to get bad credit small business loans. It could be quite challenging deciding which institution to go with, and there are numerous. Not every one of them will have your best interest at heart. 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 effective ways to get businesses financed by the lenders available to them, and they should have an extensive knowledge of the process.
When brokerage houses can syndicate, they may have the ability to secure 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 plunge even further. You do not want this to happen, particularly when a low credit score is why you are shopping for alternative lending in the first place. Selecting a dependable lending house like First Choice Business Capital will save you this heartache.
If You Need a Bad Credit Business Loan, Call Us Right Now
It takes a long time for your credit score to improve. Why delay? Keep your personal belongings – you don’t have to worry about not having enough collateral. It is a simple, one-page application. Fill it out online or call us today!