$4,000 – $1,000,000
HELPING YOU GROW
Bad Credit Business Loans
Congratulations, you did it, you opened a small business and are doing great, but now you have bigger aspirations. You want to expand, do some marketing, hire new staff, maybe remodel or even add inventory and so you apply for a small business loan only to find out that you have been declined. Why do you ask? This is a loaded question, but the number one contributing factor is bad or poor credit.
We understand it takes a lot of courage and initiative to be a business owner and at one point or another your business may need working capital, renovations, or need to expand, the list goes on and on. Having access to capital for your business is important and receiving a bad credit business loan, regardless of your credit will become vital.
What is a Bad Credit Business Loan?
Bad credit business loans are small business financing options that do not otherwise require a high fico score needed for approval. Not long-ago banks and credit unions were a small business only option, you either fit or you get declined, and unfortunately, that came to a whopping 78% decline rate, bad credit small business loans were nonexistent. Alternative Lenders like Capital for Business offer a business lending model much different from your traditional banks and credit unions, let us call it a breath of fresh air.
Does a Bad Credit Business Loan Come with Guaranteed Approval?
Business loans with bad or poor credit do not offer guaranteed approval, just like having good credit doesn’t offer guaranteed approval, but we have a vast marketplace of 100+ lenders and our approval rate of bad credit business loans comes close to 90% approval rate. Immediately you think that you will have to provide tons of collateral or assets, our marketplace of lenders provides many unsecured business loans that will not require any assets to be leveraged at all.
Types of Bad Credit Business Loans
Business Line of Credit
A business line of credit provided by Capital for Business is based on the revolving credit. That means you can use the funds over and over again. Having a business line of credit provides you with extra flexibility and peace of mind when it comes to injecting money into your daily operations. It helps you avoid downtime and make sure things are running smoothly
Small Business Loan
A small business loan from our marketplace of 100+ alternative lenders will enable you to get the capital you need for your business growth. Our high approval rates mean that we say ‘Yes’ when banks say no. Our lending process which takes less than 5 minutes will not affect your fico score and we boast a 24-hour loan approval.
Working Capital Loan
Working Capital loans can help you take care of immediate needs in your business, whether that is a cash-flow shortfall or a new business opportunity. No collateral is required for our working capital loans or short-term funding, the required documentation is limited and perfect credit is not needed. Nearly every industry can get a working capital loan. Working capital loans are perfect for business owners who need short-term funding to grow. Working capital loans are simple, fast, and affordable and are designed to help with seasonal shortcomings with revenue, or the need to boost inventory.
Merchant Cash Advance
A Merchant Cash Advance is an innovative alternative to a traditional small business loan. Capital for Business utilizes your expected future credit and debit card sales to be able to provide you with working capital so you can put your business plans into action. Instead of fixed daily payments, the repayment for an MCA is completely flexible.
Are you in the need of new business equipment but don’t have the necessary capital on hand to pay for it? Equipment financing done with Capital for Business is truly simple fast and affordable. We are a top-of-the-line marketplace alternative lender that can provide you with same-day funding to purchase any type of equipment that your business may need. Whether software, heavy construction equipment, vehicles, and much more. You will repay your equipment loan with low monthly payments and we keep the upfront cost minimal to something that your business can afford.
At Capital for Business, Invoice factoring is a quick and flexible source of funds for businesses that are waiting for outstanding receivables to pay. We simply utilize your accounts receivable as the collateral and advance funds against the face value of your invoices. Invoice factoring allows your credit line to grow proportionately with your sales cycle. We can fund as little as $5,000 a month and up to $2.5 million for larger companies.
Why should you apply for our Business loans for bad credit?
Capital for Business has been serving small businesses for over 15 years and knows what the entrepreneurs value the most. That is why we offer:
- 90% approval rates with business loans for poor credit.
- custom-tailored service with a dedicated loan specialist.
- reasonable eligibility requirements.
- flexible repayment terms on a daily, weekly, bi-weekly, or monthly basis.
- hassle-free application process.
- same-day approval.
How to Get a Business Loan With Bad Credit
OUR EASY BUSINESS LOAN APPLICATION PROCESS
Get Business Funding With Bad Credit in as Little as 24 Hours
In just three easy steps, you can access the right financing solution for your business. Our fast application and 24-hour funding process give you the working capital needed to grow your business in no time!
Apply in Minutes
Tell us about your business
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FAQ: Business Loans for Bad Credit
Even with poor credit, you can still get approved for a bad credit business loan. Each lender in our marketplace will have different requirements for small business financing. Traditional bank term or SBA lenders will require a good to excellent credit score, collateral, and your business finances statements.
You typically need a FICO score of at least 500 to qualify for a bad credit business loan, some lenders may approve you for a loan with a Poor Credit Score below 500 if your business is profitable and you have high annual revenue, but you could get better terms with a credit score of 680 or higher. Bad credit business loans are generally aimed at business owners with low credit scores.
No, chances are with so many different small business loan options, most small business owners can qualify for some type of business funding. At Capital for Business, our easy business loan application process is completed online and can even be approved in as little as 24 hours even with bad credit.
Each lender in our Marketplace will have different requirements but typically they need information pertaining to the business and business owner along with the business bank statements
Small business loans from Capital for Business marketplace of lenders will not require collateral or any down payment to receive business funding.
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