Business Loans After Bankruptcy
Business Loans After Bankruptcy
Many business owners and entrepreneurs understand that you have to take risks to succeed in business. Sometimes these risks put ambitious business owners in a financial position where it actually makes economic sense to file for bankruptcy. At Shield Funding we understand that filing is often a good business decision and not a demonstration of failure. It is for this reason that we offer business loans after bankruptcy.
Our Business Loans
At Shield Funding we can structure a small business loan for individuals who own a business but have a past bankruptcy filing and as a result have bad credit. Because our business loan alternative is not based on your credit history and mainly considers the monthly revenues of your business we can provide your business with a loan under almost any circumstance. It does not cost you anything to apply and you can know exactly how much money you are eligible for simply by filling out our one minute online application.
How it Works
We provide our approved applicants with an upfront bulk payment against a small portion of projected revenues. We do not charge accruing interest; we simply purchase a small portion of future sales receivables at a discount. The amount of these loans for a business can be anywhere from $1,000 to $500,000 or more. There are two types of business loan options, one for businesses that process credit cards, and one for companies who receive payments other than credit cards such as checks or other deposits. Both products work pretty much the same way.
For companies that process credit cards we offer a merchant cash advance. A small percentage of your daily sales will be established before the exchange, one that works for you, and this percentage will be deducted electronically until the merchant cash advance is paid back. This is beneficial in several ways. First of all you don’t have to worry about bulk payments looming over every month, and you don’t have to hassle with check writing or calendar management. More importantly, if your business goes through a slow period your payments will reduce and consequently take the strain off your business. These are just some examples of the flexibility of this financial product.
ACH Business Loans are offered to companies that do not process credit cards. It works very much the same way as a business cash advance, the only differences are a slightly higher qualification requirement and payments are deducted via an ACH; a deduction out of your business bank account similar to any kind of direct deposit. These are just some of the business loans we offer at Shield Funding and because we specialize in business funding we can even customize a loan option that works for your particular business model.
If you find yourself asking the question, “How do I get a business loan with a bankruptcy” then you have come to the right place. We know that many good business owners deserve business financing even with bad credit or bankruptcies. Apply online and get your business going in the right direction.
Bad Credit Business Loan Program
Having a bankruptcy on your credit report can result in severe damage to your credit score. This type of derogatory item can remain on your credit report for up to ten years and make it almost impossible to increase your FICO score to pre-bankruptcy levels. At Shield Funding we believe that bankruptcies are often the result of reasonable economic factors that occur normally for any business and should not have an effect on your credit score after a certain amount of time. For this reason we provide business loans with bad credit. If you have an existing business that is generating revenue you should have the opportunity to further build that business and that is why even if you have bad credit as a result of bankruptcies or other debts we encourage you to apply. Our bad credit programs have a very high approval rate and offer competitive rates and terms. Get the money you need by applying with us today.