How a business can get a loan with bad credit

There are numerous small business that require fast business funding and we provide that to them. The funding that we provide is simple and hassle free, and our requirements are very different from those of the banks. Typically, banks are not in favor of funding small businesses, as they are considered to be ‘high risk investments’ for the bank. As a result of this over 90% of all small business loans to the banks are rejected. 

We provide small businesses with the funding they require, and our qualification criteria is very different to those of the banks, which are stringent. In comparison our qualification criteria are simple and ensures that hassle free experience for the business owner. Mentioned below here are our qualification criteria, based on which any small business owner will be able to ascertain for themselves whether they are able to qualify for the funding or not. 

1.       The owner of the business should not be in any form of active bankruptcy at the time of the loan application.

2.       The business must be at least 12 months old and a running business to be eligible for the bad credit business loans.

3.       The gross monthly income of the business needs to be at least $10 thousand or over that amount in a month. 

These are the simple criteria that we have, which are much simpler than the criteria that banks have. In addition to this there are also features that are associated with the funding that we provide that make this a very simple and hassle free process. 

We process the applications for the business funding bad credit loans at the earliest within 48 to 72 hours from the time of the application. At normal processing speeds, a small business owner can assume that we will take at the most a week to 10 days to provide them with the funding, not over that. Banks on the other hand take not less than a couple of months to do the same, and at the most that period of time can go up a lot more. 

The credit scores are also not a major hindrance to the loan application process for small businesses with us. Typically, we do not require high credit scores and often work with credit scores that are in the mid to low 500s. On the other hand banks do require high credit scores, and they need to be above average or preferably in the 700s. 

Also we do not ask small businesses for collateral and security to provide them with the funding. Our loans are small business funding, and this is good for numerous small businesses who would otherwise not be able to take the funding, because they lack collateral. 

For more information related to the business loans for poor credit contact us. Our funding team will provide you with the information you require and assist you with the application process as well. Alternatively, if you wish to fill the application form yourself, simply click on the ‘apply now’ tab and fill in the details yourself.