Numerous small businesses require business funding, even those with poor credit scores. And banks simply do not provide bad credit small business loans. However we do provide business funding to small businesses with poor credit scores. The criteria that banks have and we have as a private lender are completely different.
There are numerous features that are associated with the business funding we provide, and our criteria are completely different from those of banks. If you have ever wondered bad credit business loans then here is your answer. Our qualification criteria are mentioned here to give you a better understanding of the requirements that we have.
1. The business must be at least 12 months old and a running business
2. The owner of the business should not be in any kind of active bankruptcy at the time of the application for the small business loans.
3. The gross income of the business needs to be at least $10 thousand.
The criteria that are mentioned above are our criteria, and these are completely different in every way from the banks criteria. We assess the risk factors associated with a business based on the simple criteria mentioned above here.
We work with credit scores that are poor and below average, in the mid-500s and fund them as well. Banks on the other hand will not touch a credit score that is not above average and preferably around about 700s or above that as well.
In addition to providing small businesses with business funding with bad credit we also provide you with the funding in record time. At the earliest a small business owner can get the funding he or she requires within 48 to 72 hours, or on an average in a week. Banks on the other hand are in no hurry to provide the funding and take a few months to do the same.
Also to provide you with small business loans bad credit we do not require collateral and security or personal guarantees either. The funding we provide is uncollateralized and this is very beneficial for small business owners, as many of them are unable to come up with the collateral banks require to fund small businesses. And banks do always require collateral and security as this is one of the operating norms of a bank.
To know more about business funding bad credit we suggest that you contact us. Our funding team will provide you with the assistance you require and also assist you with the filling of the application.