How small businesses with poor credit can get a business loan in America

There are numerous small businesses that require instant small business loans, and we provide them with those simply and easily. The funding process that we have is quick and hassle free as well, and getting the loan is not the problem at all for small business owners. However, we do want all small business owners to be decided and sure about the purpose of the funding. The reason for this is because we would want to see all small businesses in the best financial health and financially stable. Small businesses make up the spine of the economy and their stability and success matters to the entire economy.

Banks on the other hand are not keen on funding small businesses as they consider these to be ‘high risk investments’. To qualify small businesses for loans, banks have very stringent qualification criteria and most small businesses are unable to make the cut. As a result of this over 90% of all small businesses loan applications are rejected by the banks.

We do provide small and medium sized businesses with the funding that they require, and our qualification criteria are very simple and practical for small businesses. Based on the criteria that we have most small businesses are able to easily qualify for the business funding in America. Mentioned below here are our qualification criteria, and based on these most small business owners will be able to ascertain for themselves whether they qualify for the funding or not.

1.       The business needs to be at least 12 months old and it needs to be a running business.

2.       The owner of the business should not be in any form of active bankruptcy at the time of the loan application. If they were they should be discharged from it at the time of the loan application.

3.       The gross income of the business should be at least $10 thousand or over that amount.

These are the basic and simple criteria that we have and based on these most small business are able to qualify for the funding that they require. Also mentioned below here are the rest of the features that we have for the funding, that go on to make the entire process hassle free and user friendly.

The processing time frames that we have for the instant business loan are very quick, and we are able to process the application within 48 to 72 hours from the time we receive the application. At the most this processing time frame will be a week to ten days. Banks on the other hand do not process the applications that they receive so quickly. They are in no particular rush to fund small businesses, however the real reason is the stringent qualification criteria, which slows down their processing speed. Typically, a bank will take a couple of months to process the application at the earliest.

The credit scores are also not an issue with us, and we are able to provide small businesses with poor and damaged credit with the business loan in America they have applied for. The reason for this is because we do not require excellent credit scores as a part of our qualification criteria. We often work with businesses whose credit scores are in the low to mid-500s and we do fund them. Banks on the other hand do require high credit scores, and would prefer to work with businesses whose credit scores are above 700.

We also do not require collateral, as our funding is uncollateralized and unsecured. Collateral is not part of our funding criteria, and this is very beneficial to small businesses, many of whom do not possess the collateral that banks and other financial institutions would require.

For more information related to the business funding in USA get in touch with us. We will provide you with the information you require and also provide you with assistance filling up the application form. Alternatively, if wish to fill in the details yourself online, simply click on the ‘get started’ tab and fill in the online form yourself.