Business owners having trouble obtaining a bad credit business loan should consider the loan alternatives that we offer here at Business Merchant Funding (BMF) We can help you with the finance that you need to keep your business going, because we don't lend in the traditional way.
Finance Is Available For Businesses with Bad Credit
There's a myth out there that if you have a poor credit history, you'll find it impossible to borrow. Whilst that may be true in some cases (i.e., banks won't lend to you), there are other institutions in existence who can and will lend you the cash that you need. So whether you have a bad credit history, or even no credit history, make sure you get in touch with us today.
How a Cash Advance Works
The only similarity between a loan and a cash advance is the fact that they both entail someone lending your business money – that's where the similarities end. A business loan is often obtained from a bank – in order to get one you'll have to fill out lots of application forms, you'll have to submit supporting documents like tax returns and a business plan, and you'll probably have to put down some form of collateral too. Bad credit business loans are notoriously hard to obtain, due to the fact that banks classify you as "high-risk". A cash advance on the other hand has a relatively short application process. All you need to do is fill out the short form on the left of this page – then we'll get back to you within 24 hours to let you know if your application has been successful or not. If it has, the money that you need in order to shore up your business could be with you in as little as 7 days. This means that you get access to those crucial funds much sooner than you would if you took out a bad credit business loan.
What Happens When You Get the Finance
Once the cash advance is with you, it's time to start spending the money; whether it be on unpaid invoices, or even new stock. You'll have agreed with us a repayment schedule too, which is much more flexible than a repayment schedule that you'd get with a bad credit loan from a bank. Our repayment figures aren't rigid, and they don't remain the same every month. Instead you'll only pay what your business can afford, because repayment figures are calculated on the sales that your business makes going forward.Bad credit business loans and automotive business loans aren't the only option for borrowing when it comes to securing your businesses' future. Fill out our short application form today to see whether or not we can help you with a business cash advance.