Business cash advance Bad Credit
All a business needs to do to qualify for such a private business cash advance bad credit from a private lender such as us, is be in business for over 12 months at least, and they should have a minimum gross sale of over $15 thousand. Also the business owner should not be involve in active bankruptcy.
Banks do not give out funding to small businesses easily, even those businesses who have a credit score of over 700. The reasons for this is simple, banks have criteria which need to be met. And these criteria have been developed over decades. These criteria are primarily to protect the banks investments against losses and banks do not view small businesses as very secure investment options.
Business Cash Advance Loans
Taking this into consideration, the ground reality of the situation is that banks reject over 90% of all fast business cash advance loans applications that they receive. The criteria are extremely difficult for small businesses to qualify for and are very well suited to large businesses. Typically, it would be difficult for a small business cash advance loans to show strong monthly income and deposits month after month. In addition to a high credit score over 700, and excellent profit and loss statement
To apply for a business cash advance loans with a private lender, all a business owner needs to do is contact us. Our funding team will provide them with all the information they require. And assist them with the application process if required. The quickest a cash advance can be process is 48 to 72 hours from the time of application.
The primary reasons to apply for a private small business cash advance bad credit are if a small business needs to funds urgently. The bank is not willing to fund them; and if the business requires the money very quickly.
Another possible reason for a private business cash advance loans is if the small business cannot meet the criteria of the banks. Banks have a lot of stringent criteria, and due to this banks end up rejecting over 90% of all business cash advance bad credit. Many small business owners don’t stand a chance with the banks are private funders are the only viable option available to them. It’s for reasons such as this that private lenders fund thousands upon thousands of small businesses every year.
What are my funding options?
With a private lender the possibility of getting approve is far higher for a business cash advance loans. The interest rates are also higher and the processing time is a lot less.
Those who opt for private fast business cash advance bad credit do so because they are well aware that the option of the bank is almost closed off to small business. Generally, banks prefer to lend to big businesses or to corporate, and their criteria are design so.
Why shouldn’t I apply to the bank for a business cash advance?
The reason so many small businesses apply for fast business cash advance bad credit. Through private lenders is due to the fact that they require the funds. Private lender terms and interest rates are different from banks and those who take the funding are able to work with the terms of private lenders such as us. These are some of the primary reasons, in addition to the fact that most small business. Who apply for private funding have been reject by banks and know that that option is no longer on the table for them.
What are the advantages or disadvantages of working with a private lending?
Hassle Free And Easy Application And Processing