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 if I Have Bad Credit in Bellevue, WA?
First Choice Business Capital can help you secure the bad credit business loans you are in need of to keep your business in Bellevue, WA profitable, even when you have bad credit.We have many money options available for companies, regardless of a bad credit history. The approval process is fast as well, 24 hours in many cases!
What You Should Know About Business Loans 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! Businesses with bad credit get denied for loans more often than not. Banks deny loans to companies with bad credit for a variety of reasons. It is true that one of the main reasons that denials occur is basically when a business has bad credit.
Once a bank turns down a loan, the business often gives up the search for financing. Still, there are other options. Working capital is the foundation on which a company operates.Therefore, when a company does not have accessibility to cash, they are not going to be able to stay in business for long at all. 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 problem because of new regulations.To complicate matters, these regulations apply to “Mom and Pop” type operations that have less than 50 employees.This situation is a burden to those needing funding, but it has opened the doors for alternate loan providers to step in to provide much-needed programs.There are choices for business cash advances from organizations like First Choice Business Capital. We provide practical loans and offer a quick approval process.
Business Loan Options Bad Credit in Bellevue, WA
Quite possibly you are one of the businesses that are not aware that short-term loan alternatives are offered. But the good news is, they are out there – and the best part is, they are unsecured! Bad credit aside, you can secure business loans with poor credit. These business loans for bad credit are not just for certain types of companies, either. We service many different types of businesses. First Choice Business Capital commonly funds loans within 24 hours. Yes, just 1 day! Are you looking for small business loans bad credit? Don’t look any further at all!First Choice understands this. We take pride in helping you solve your financial dilemma as quickly as possible, and we possess a high approval rate as well.
Business Cash Advances, Short-Term Loans and Unsecured 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 remaining open or closing for good. When a traditional bank turns down a loan, these can offer the money required to stay running. If you’re a business with horrible credit, you don’t need to have collateral. This makes the approval procedure even easier! The only requirements we need is for your business to be older than three months and that you repeatedly deposit at least eight thousand dollars every month.
Perks of Merchant Cash Advances
Merchant cash advances offer many conveniences to all kinds of companies. A top example of one of these benefits is how quickly a merchant cash advance is financed. Where traditional banks can take a long time, an MCA can possibly be approved and paid in only a fraction of the time. A lot of business loans bad credit of this type are approved within as little as one day.The loan approval process is speedy and easy as well. All you need to submit is a simple one-page application form. You should also be prepared to produce the last six months of business bank statements. We can work to approve your loan application when this info is provided.
A merchant cash advance can be merely what you need if you have been refused by your bank as a result of poor credit. When your business is halting because of 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. Daily payments are made five days per week, not counting Saturday or Sunday. For a merchant cash advance, there are usually between 20 and 22 payments every month.
Some Businesses We Collaborate With
Short term business loans bad credit are available to many types of businesses. A merchant cash advance company like First Choice will not discriminate based on business type. Here is a sampling of the types of companies we collaborate with: Automotive/Mechanic Maintenance and Repair Shops, Auto Body Repair and Painting, Cafes and Restaurants, Beauty Shops, Carpentry, Building and construction, Driveway and Parking Pavement, Diesel fuel Service Stations, General Building Contractors, Home Health Solutions, HVAC, Interior Decorators, Brickwork and Stone, Pest Control, Rigging and Scaffolding, Tire Shops, Transportation, Water Well Drilling, Wrecking and Demolition Companies and more. Any of these companies and many more can receive a business loan with bad credit. First Choice can help any business that meets the qualifying criteria and has credit woes.
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.
Picking a Professional Loan Company Of A Poor Credit Business Loan
There are dishonest companies in this industry, preying on those looking for bad credit small business loans. Given this, it is essential to ensure that you only deal with reputable brokers. Not every company in the business of lending subprime loans will have your best interest in mind, so it is best to perform due diligence. It is unfortunate when a borrower is declined as a result of an agent providing wrong data to a lender.
It is imperative that the brokerage firm has an in-depth understanding of the underwriting process. They have to know their lenders well and have the ability to guide the borrower through the process. Those lenders that can syndicate the deals may even maximize 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 company like First Choice Business Capital will protect you from this.
Got Bad Credit Business Loan Needs? Call Us!
It takes a long time for your credit score to improve. So, why linger around waiting for it to get better? And don’t worry about collateral – you don’t need it to obtain the loan. You can get this process started right now by filling out the simple form. It is available online, or if you prefer to discuss your options, you can call us today!