Do you require fast funding for your business but you unfortunately have bad credit?
At Small Business Funding we look at more than just credit scores. In fact, you may be able to qualify for business funding with a minimum credit score of 400.
If you’ve been in business for at least 3 months and have monthly revenues of $8k or more, you may qualify.
Small Business Funding provides business owners with poor credit funding options within days.
As a small business owner you may have gone through hard times due to personal problems like a divorce or a break up with a business partner or even a natural disaster. These unforeseen events may have caused your business to shut down and lose revenues. These can all contribute to lowering one’s credit score, making your life very difficult now that you require a traditional business loan or advance.
Small Business Funding specializes in providing people and businesses like you, an opportunity to receiving funding.
We understand that bad credit should not cause your business harm and prevent you from receiving a business loan or advance.
We partner with the nation’s top alternative lending sources. Complete the Funding Request Form and if you are pre-approved, we will work to find you multiple funding options.
Small Business Funding sources look past a low FICO score and looks at your performance as a business. That is what is taken into consideration when underwriting bad credit business loans. We find lenders that provide bad credit business loans every day.
While the cost of the credit may be more than a traditional bank you have to take into consideration the additional risk involved. Also, these loans do not require any collateral; 100% UNSECURED. Bad credit business loan providers utilize proprietary underwriting strategies to look beyond the usual risk factors and look more at the overall business performance.
Alternative lenders, like Small Business Funding, have multiple loan types to provide you. We work on your behalf to find the correct loan type, rate, and term. We know what lenders to work with and can expedite the entire process from your one page application, an approval response in 24 hours, and funding in days.
If you’re an established business that unfortunately may have a bad credit profile your options for financing are very limited. Traditional bank loans are difficult if not impossible to secure.
Banks will view your business as high risk and will turn their heads simply because your personal FICO is low. While bank loans will always provide the very best rates and terms, if you have bad credit you cannot take advantage of that type of financing unfortunately. A working capital business advance (revenue based ACH advance or working capital advance) will be your only option; but at least there is an option. Higher cost and shorter terms are to be expected with alternative business loans. These do make sense if properly used and will certainly provide fast capital to buy inventory, hire more people, advertise, expand, make payroll, etc…without hurting the most important thing for a business; Cash flow.