Small Business Loans no Credit Check
For small business owners who are looking for business loans, we provide them with those. The small business loans no credit check that we provide are easy to obtain, and we fund very fast. This is not the problem at all from our side, although we are aware that many small businesses have this as their primary concern. We do however ask all our customers to be sure about their decision. The reason for this is very important, and that is because small businesses make up 99.7% of the economy of the United States. As a result of this, the health of small businesses is very important to the economy and we would definitely want to see small businesses doing well.
Banks are not interested in funding small businesses because they consider these to be ‘high risk investments’. Banks prefer to fund big businesses and corporates instead as these are considered safer options. The qualification criteria that banks have for small businesses is very stringent, and as a result of this over 90% of all small business loan applications are rejected by the banks.
We do however provide small businesses with the small business loans no credit that they require, and our qualification criteria are completely different from those of the banks. Based on the criteria that we have, almost all small businesses can apply for and qualify for the funding that we provide. Mentioned below here are our qualification criteria;
- The business needs to be at least 12 months old and it needs to be a running business as well.
- The owner of the business should not be in any kind of bankruptcy at the time of the loan application, and if they were they should be discharged from it.
- The business gross monthly income needs to be at least $10 thousand or over that amount.
These are the simple criteria that we have, and based on these any small businesses owner can ascertain for themselves whether they qualify for the funding or not. Typically, most small businesses find these criteria very reasonable and workable for their business. This helps in making the entire process more hassle free and quick for the small businesses owner.
The time frames required to provide business funding bad credit;
The time frames that we have are very quick to say the least, to provide small businesses with the bad credit small business loans. At the quickest we are able to provide small businesses owners with the funding that they require within 48 to 72 hours from the time of the loan application. At the most we would take a week to ten days to provide the funding. Banks on the other hand do not provide the funding so quickly, and as a result of this they will take at least a couple of months to do the same.
We do not require high credit scores, and the reason for this is because the credit scores are not a part of our qualification criteria. We often work with small and medium sized businesses whose credit scores are in the low to mid-500s and we do still fund them. Banks on the other hand will not fund small businesses whose credit scores do not meet the necessary requirements related to their criteria, and required credit scores.
Collateral is the last thing that we do not require, and the reason for this is also very simple. All our funding is uncollateralized and unsecured. This is very beneficial to small businesses, many of whom do not have the necessary collateral that the banks require.
For more information related to the bad credit business loans, contact us. Our funding team will provide you with all the information that you require, and also provide you with the information you will require.