Many small business owners don’t get their company off the ground because they just don’t have the working capital to grow. The typical small business owner is constantly accumulating debt and their credit score can drop quickly as business financing requirements are often overwhelming during slow cash flow periods. Once the debt and credit problems are there, people generally believe that no financial institution will give them a business loan. Granted, traditional financing options such as banks and prime lenders will not be an option, but we have an alternative.
Shield Funding’s bad credit business loans allow small business owners to secure financing with bad credit. We only require that you own your own business for at least 3 months and you have monthly revenues of $2,500 or more if you accept credit cards, and $20,000 or more if you do not process credit cards. Our lending program offers existing company owners unsecured business financing through our many business loan programs including a business cash advance, ACH business loan, and many other custom funding options.
One way we provide small business loans with bad credit is by exchanging a lump sum of cash in advance of future receivables as the company builds revenue with their new cash infusion. A small portion of the revenue will be set aside to pay off the loan as money comes into the business. There is no need for lengthy credit checks or impressive tax returns, the most important element you need is a company in business that is generating cash flow. You can apply online or give us a call and the entire process can be completed via email or fax. If you are interested in how bad credit affects business loans you can read more about the topic here.
Credit is dynamic and is something that should never be ignored. Even though there are bad credit business loans available, you should never stop improving your credit. It will not only lead to better rates and terms, but it will also make more lenders willing to provide funding for you as your business grows. You can find more information about small business owners building their credit here.
A very common problem that many small businesses experience is that the owners do not provide the necessary budget to operate efficiently. This behavior leads to sub-par inventories, a lack of organization, and the resulting poor product and unsatisfied customer. A common reason for underfunding operating expenses is bad credit. Small business owners struggling with their credit history are often denied access to capital and this results in a poorly operated business with a diminished chance at success.
Don’t let your business suffer from underfunding, apply for business loans with Shield Funding and turn your small business into the great company you know it can be. Apply Today!