Bad Credit Loans

If your business has a bad credit history then there’s a very high chance that any banks or credit unions that you approach regarding business financing will send you packing. The problem is that a credit history shows how likely you are to pay off any loans that you take on, based on your previous financing. If you’ve not kept up payments with loans or financing in the past then you’ll find it difficult if not impossible to wrangle a loan out of your bank. There’s good news though, because where banks say no, we’ll say yes!

Cleaning up your credit history can take time

A lot of business owners need a loan fast in order to sure up their business or in order to help promote growth. Business owners just don’t have weeks or months to sit around for banks to get back to them. Likewise business owners don’t have time to sit around waiting whilst they clean up their credit history – because this can be very time consuming, but it can also be impossible.

There are steps that you can take in future to reduce any further issues occurring with your credit history, though. You should aim to pay off any loan or financing repayments on or before the due date. If you’re not going to be able to make a payment don’t just leave it, inform the person you’ve borrow from so that they can help you – if it’s within their power to.

We offer merchant cash advances

We don’t offer loans; we offer a borrowing service called a merchant cash advance. Lots of people just assume that this is like a loan – but it’s not. It’s a way of borrowing money, but the features of a business cash advance are much different to those of a loan. For example the application process is much shorter than the application for a business loan – and you won’t have to submit piles of supporting documents and paperwork. You won’t have to pay back fixed monthly sums either – the amount you repay will be based on the sales that your business makes.

Bad credit business loans were notoriously hard to obtain anyway; the recent financial crisis has made them exponentially harder to get at. If you don’t want to waste more time applying for bad credit business loans make sure you get in touch with us today to see whether or not we can help you with a business cash advance.

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