are something you never thought you’d consider. When you inherited the family business you thought you’d expand on the lessons your father learned. But the only thing you learned was that your father was years in debt. There are so many unpaid or past due bills you don’t know where to start.
Worse still, the equipment your father swore by is now breaking down. With the repairs added to the list, you wonder if it’s better to fold.
“Might as well. It’s the only way I can see paying anyone, let alone everyone,” you say to your friend one night. That’s when your friend suggests the impossible.
“Why not get a loan? That might help things.”
“A loan?” you scoff. ” Are you crazy? Our credit rating is practically 0. We can’t get a loan now!”
“Not just any loan,” your friend says. “A
.” You give your friend a puzzled look. “You mean
are a thing?” Yes, they are. Read on if you want to know how
When it comes to loans, pop culture often paints a negative picture. In the movie adaption of
, the kids try to get a loan. The six words they accidentally overhear a banker say explains it all:
With one-line jokes like these, it’s easy to see why loans stress you out.
You’re basically being told that loans are not an option for you, that your credit has to be perfect to even look for a loan. And while it can feel that way with some lenders (like banks), loans
be an option for you. But before we go over the types of
out there, let’s first go over credit scores.
The first thing you should realize about credit scores is that you have two of them. Yes, two: your personal credit score and your business credit score.
Your business score is calculated a lot like your personal score. How much debt you have and how well you keep up with your company’s bills all factor into the total score. Another thing that factors into credit scores is how well you keep up with loans. So before you look into
Let’s say you take a hard look at your finances and realize that your biggest problem is the equipment. You need to either replace or repair the bulk of it. You might feel so overwhelmed by everything that you think it’s better to fold. We understand this feeling. Financial situations like this always seem more dire than they actually are. And despite what you might be thinking, there are
. You could even
and you just need some funds to keep you flush for a while. Or maybe you need some funds to keep your bills in check. Consider a business loan from an alternative financier.
Unlike banks, alternative financiers have many programs for businesses that need
Not only that, but alternative financiers also have much more relaxed qualifications. It won’t matter how long you’ve been in business or how much you need to borrow
They can fund loans ranging from $5,000 to $5,000,000. Plus, you’ll get your money in 24 hours. With getting funds that fast you’ll be able to take charge of your finances and save your business.
Contact First Capital for Bad Credit Loans Today!
Are you a growing company in need of bad credit loans? Are you looking to expand your business but need a flowing stream of cash instead of a trickle?
Call First Capital Business Finance today at 888-510-3573
or contact us
online. We will get the information we need from you, answer any questions you may have, and thoroughly explain the entire process. Hopefully, as you ease your mind, we will be able to help you take care of your slow cash flow situation and get you on your way.