Small Business Loans for Bad Credit (No Credit Check Required)
Are you in a credit crunch and in need of a business loan? With the recent economic climate it’s been very difficult for businesses to obtain financing if they don’t have a good credit score. Even if you’re business is well run and bringing in consistent revenue, many banks & lending companies will reject applicants that don’t meet their strict requirements. We believe that hard-working owners should not have to suffer this fate. They should have predictable access to capital so they can continue to grow their business. Our loan program is designed to help people in this situation acquire funding. It is designed for any size company (small, medium, large) in any industry except real estate or investments. Instead of solely analyzing your credit score, we evaluate the amount of cash flow in your business to determine how much you are eligible for. This is a much better indicator of your company’s financial health and enables us to lend to businesses that would otherwise be locked out of fairly priced financing (with no credit check involved)! By changing the evaluation process, Halo Capital has made it easy for you to receive bad credit business loans. We provide anywhere from $10,000 to $2 million depending on your qualifications.
Getting Started with Bad Credit Small Business Loans
As a business owner, you have probably dreamed of expanding or improving your business to help it reach its full potential. If your company is like many, however, there’s a chance that a lack of money is getting in the way. You may have considered taking out a business loan, but if you have a poor credit score or a poor personal credit rating, you may assume that this is impossible. It’s true that many lenders frown on poor credit scores and refuse to lend money to business owners who don’t have a strong payment history with their previous creditors. The Small Business Administration has reported that only 27 percent of respondents who attempted to get business loans through banks were approved. But this doesn’t mean that you cannot obtain a bad credit business loan from other sources. In fact, there are numerous alternative lending companies that can provide financing if your business is profitable. So if you’re wondering, “Can you get a business loan with bad credit?,” you should know that the answer is probably “yes.”
Before you can start looking for bad credit small business loans, you have to know what your options are. It’s important to understand that many loans will not be available for your company if you don’t have a strong credit score to back up your application. However, this should not discourage you.
Instead, consider all the options that are available. You can look into merchant cash advance companies, which will require repayment based on your company’s credit card sales. There are also loans that are designed specifically to cover equipment purchases or to fund the construction of a new commercial building. The best option for your business will depend on a number of factors, such as the type of loan that your company best qualifies for and how you intend to use the money. Filling out our application is the best way to see your options for business loans with bad credit, since we automatically match you with the most compatible lenders.
How to Get a Small Business Loan with a Bad Credit History
Without a poor credit business loan, you might have a difficult time expanding or improving your enterprise. You might think that bad credit business financing is impossible to find, but this isn’t true at all… if you know where to look. Our application can save you loads of time trying to find compatible lenders. It’s quick and easy to apply here on our website, and you’ll be connected with financing solutions almost instantly.
How to Get a Small Business Loan with NO Credit History
You might have heard that having no credit is better than having bad credit, but it might not seem like it when you are getting turned down for all sorts of commercial loans. Unfortunately, many lenders are nervous about loaning money to business owners who don’t have any credit history.
If you want a business loan with no credit, we can help. We work with people all the time who do not have well-established credit histories, and can talk to you about your options as well.
What Criteria Are Bad Credit Business Loans Based On?
Many loans aren’t granted to companies that have poor business credit scores, especially if the chief operators of the company don’t have good credit and can’t offer a personal guarantee. However, much of this is because of companies failing to arm themselves with the proper information. In reality, small business loans for bad credit are available to many companies because they can be looked at from various different angles. Here are a few things that we will look at when determining whether or not your small business qualifies for a loan:
- Company cash flow
- Assets and liabilities
- Business plan
- Down payment
As you can see, small business loans with bad credit are much more flexible than most think because they take a lot of different things into account. Therefore, you might still qualify for a loan that you otherwise would not be able to get, such as if you have a strong business plan or solid cash flow. We understand that business owners deserve second chances, and we also know that there is more involved when determining if a company is successful than just looking at a credit report.
Where to Apply for Small Business Loans with No Credit Check & Low Rates
If you have been looking for SBA loans for bad credit, micro business loans, small business loans with no credit check and other types of fast business loans, you might not have had much luck in your search. Unfortunately, many lenders do look at credit scores and can require businesses to meet strict criteria before approving loans.
Luckily, Halo Capital can help. We understand that your company needs funding, and we don’t want you to be turned down for a loan yet again. This is why you should always come to us when looking for business loans for bad credit. Our application process is easy, and we are able to grant loans when other lenders can’t.
Can I Obtain New Business Funding with a Bad Credit Score? (for people just starting out)
If you have read up until this point, you would have learned that it is entirely possible to get a business loan with bad credit if you are an established business that can prove strong, positive cash flow. However, you could also be wondering if it’s possible to get loans to start a business with no credit or with bad credit. Luckily, you don’t have to let your poor credit score or lack of credit stop you from acquiring new business loans so that you can chase your dreams. We have helped individuals with bad credit and no credit start their own businesses, and we may also be able assist you if you have a strong business plan.
“I Need a Small Business Loan Quickly!” What To Do…
When your company needs money, it may need it right away. You could be looking for bad credit commercial loans to cover your expenses or invest in much-needed supplies, for example. You might have a difficult time keeping your business afloat if you can’t get a small business loan soon, so you need to act quickly. Some no credit check business loans and other bad credit small business loan options require a long waiting period, but that is not the case here at Halo Capital. Since you can apply directly on our website, you can get matched with a small business loan for bad credit right away. This can help speed up the process of acquiring much-needed financing for your business.
Can I Get Commercial Financing for Poor Credit from Lenders Online?
If you are wondering how to get a business loan with bad credit online, you might assume that it will be an arduous process. It does not have to be, however. You can actually get started quite quickly by applying for online business loans through various different online applications. In fact, this process is usually easier and more straightforward than working with traditional lenders. There is less paperwork and faster approval times. In conclusion, applying for bad credit business funding online i more easily than you think, and you don’t have to spend hours talking to different bankers to do so.
Here at Halo Capital, bad credit is OK. If you have bad personal credit, and have been asking yourself, “Where can I get business financing with bad credit?,” you shouldn’t stress any longer. Even if your company has a low credit score due to business credit cards, you can still get approved. We also understand that you may need funding with bad credit right away, so we don’t want to make you wait. Here at Halo Capital, we make it our goal to help small businesses get bad/no credit business loans quickly, with the best rates and terms possible.
Lately, you might have been asking yourself, “How can I get a business loan with bad credit?” What you should know is that there are many options available. At Halo Capital, we help business owners acquire them every day, so fill out our application to get more information.Frequently Asked Questions
“Halo Capital simplified our loan process ten-fold. Being in business for 3 years, I had always relied on word-of-mouth marketing to acquire new clients. This has worked very well but when the recession hit several years ago, many of our existing clients that we relied so heavily on for business took a financial hit, and so our business suffered as a result. I soon realized that things were not going to be the same, and I was going to have to adapt quickly if I wanted my business to continue to thrive. It was that realization that lead me to want to start marketing our business online. But we were cash strapped and my bad credit rating at the time prevented me from qualifying for a bank loan. I came across Halo Capital one day and applied to their bad credit business loans program. Later that same day, I was qualified for a $20,000 loan and the money was ACD’d into my account 5 days later. I used that money to fund my online marketing efforts, and 3 months later I doubled my ROI. I can not say enough positive things about their impact on my business. They’ve been huge!”
-Barbara Johnson, Linens & Things