Small Business Funding works with alternative lenders all over the country. When you’re a business with bad credit and in need of a loan where do you go? You are limited to use an alternative lender instead of a traditional bank. You will pay more for the credit but at least there is cash available in this alternative space for a business to receive and put themselves in a more favorable position. These types of loans which are geared to a business with bad credit are not difficult to get. A one page application and a few months worth of credit card statements and bank statements can you an approval decision in as little as 24 hours. Amounts can range between $5000 up to $500,000 with payback terms of 3 to 24 months. The average loan size is $25,000 with an average term of 5 months.
A business with bad credit should not be discriminated against just because the owner had a financial misgiving in the past. Bad credit caused by a divorce or loss of a previous job prior to owning a business should not be the determining factor used to get an approval. Alternative lenders use different algorithms to approve a business with bad credit. They weigh business performance, time in business, cash flow, seasonality, and monthly revenues as the primary factors to approving a loan. A credit score may alter the amount approved for or the term of the loan but usually never as a stop gap to denial.
Small Business Funding is a great source for a business with bad credit to go to. We will take your application and paper work to the lenders and negotiate loan amounts, term length, and funding time to get you your money fast. Someone who applies on a Monday can have funding as early as Friday. So if you’re a business with bad credit in need of fast capital apply here