4 Reasons Other Lenders May Reject You, but Bad Credit Business Loans Won’tBad credit business loans offered through our network of 50+ great lenders are perfect for those small business owners who have been rejected in the past. They are also perfect for any business owner who has been hesitant to apply for loans because of the possibility of being rejected. If you are a small business owner, chances are you could use some extra financing, and you are also likely to have a few reasons to think most lenders would turn you down. These lenders won’t let you down.
Bad Credit Business Loans Ignore Imperfect Credit Scores
A huge reason why many business owners get rejected for bank loans and other types of financing is because of a low credit score. The name of our loans says it all: bad credit business loans. These are a reality and our lenders realize that your credit score does not define you or the likely success of your business. Many other lenders will turn you down if your credit score isn’t high enough. With these loans you only have to show that your score is at least 500. This is much lower than most other lenders, especially banks, will accept.
Bad Credit Business Loans Are Not Concerned with Collateral
Another reason you may get rejected by other lenders is that you and your business have little or nothing to offer as collateral. Many small businesses are small in every sense of the word; you may not own real estate, expensive equipment, or even a company car. If you don’t have assets to offer a bank, you may not be approved for a business loan. With our bad credit business loans, though, having collateral is not necessary.
Bad Credit Business Loans Don’t Require Huge Revenues
Yet another factor in most bank business loans is cash flow or revenue. If you go to a traditional lender you will have to show how much your business takes in each month, and if it isn’t enough, you will be denied. With bad credit business loans, the minimum requirement is $10,000 per month, much less than other lenders will demand. You can truly be a small business and still get approved for the cash that will take you to the next level, to be a bigger business.
Bad Credit Business Loans Won’t Make You Borrow More Than You Need
If you go to a bank and ask for a loan for just $5,000 for your business, you might just get laughed out of the building. Banks don’t want to lend less than amounts in the tens of thousands because they are in business to make as much money as possible. This leaves most small businesses out in the cold because you can’t afford to borrow that much. With our bad credit business loans you won’t be denied simply because you don’t want a huge loan. Our lenders will get you approved for any amount you need, from $2,000 and up to much higher amounts. Get started today on bad credit business loans and see how easy it can be to get approved for business lending.