The application, and approval process, for a bad credit business loan is typically much easier than traditional bank financing. 

Typically the Business Owner just needs to complete an easy online application and provide the 3 most recent months of business bank statements in order to apply.

Once those are received, the Underwriters will complete their cashflow analysis of the business and review the rest of the information provided. This process is typically pretty quick, and offers can be made in as little as a few minutes.

If the terms make sense, and the Business Owner would like to accept the business loan offer, they just need to complete the online checkout process, clear any remaining funding stipulations, and then the funds are released.

Every Business is unique, and so are the offers that are made. The process may vary depending on the situation. If you have any questions, feel free to contact us for assistance. 

If you have challenged credit, or just need a quick business loan, you can complete our easy online application using the link below, and we can help get you approved today. 

Get Approved Now!

Most Lenders that offer Bad Credit Business Loans typically offer same day funding. In an effort to streamline the process, we have simplified the funding process into 3 easy steps:

1. Take a few minutes to complete the easy online application. We just need some basic information about the Business and the Business Owner. Once that is complete, the Business Owner just needs to provide the 3 most recent months of business bank statements to verify the revenue.
2. Once approved, it is up to the Business Owner to select the terms that work best for their situation and need. Underwriting will issue a max offer as far as dollar amount and term, and the Merchant just needs to select terms within that range. 
3. After the terms have been selected, the Business Owner just needs to sign the funding agreement electronically, and clear remaining funding stipulations in order to have the funds released. The business loan will be deposited directly into the approved business bank account. 

Take a few minutes to complete our easy online application, and we can put together some options for you to review. If the terms make sense, we can help you get funded today.

If you have bad personal credit, establishing a positive payment history or building your business credit can be very valuable when it comes to getting your business funding.

If you are trying to establish a payment history for the business, a bad credit business loan may be a good place to start. 

Not all Lenders report to the Business Credit Bureaus, but in most cases, there is some type of payment history established. Which can help improve the credit worthiness of the business.

For more information on how to build business credit, we recommend reading our articles on the topic:

“Business Credit – Everything You Need To Know”

“Top 5 Ways To Boost Your Business Credit Score Quickly”

The minimum qualifications can vary depending on the Lender, but in general the business just needs to meet the following criteria in order to be eligible for a bad credit business loan:

• 3 months time-in-business
• $10k monthly deposits into a business bank account

For businesses that meet this criteria, the approval rate is significantly higher than traditional bank financing. According to the Small Business Credit Survey by the Federal Reserve, over 80% of applicants were approved for a Merchant Cash Advance (revenue-based business loan).

If your business meets the minimum criteria, and you have a need for business funding, use the link below to see  what your business qualifies for:

Get approved for a bad credit business loan

Most bad credit small business loans do not require that the Business Owner pledge any personal assets or collateral to secure the loan. In most cases, the revenue, cashflow, and time-in-business are the primary factors taken into consideration for the approval process.

For most revenue-based business loans the funding amount and terms are primarily based on the anticipated future receivables of the business.

Ultimately, it is up to the Lender to decide the structure of the funding. The costs, terms, and structure are going to vary depending on the situation. Please feel free to contact us for more specific information.

For more information regarding secured vs. unsecured debts, below is a link to an Investopedia article on the topic:

“Unsecured vs. Secured Debts: What’s the Difference”

For more information on small business loans, you can also read our article: “Small Business Loans – What You Need To Know”