Bad credit business loans can help you get the cash you need to grow your business. If you have poor or limited credit, or have been in business for less than two years, our financing options can help your business in a variety of ways.
Maintain Control of Your Business
If your business needs more cash, you may be considering bringing a partner on board or selling equity shares in your business. Business loans for bad credit can help you get the money you need to expand your business without giving up control or sharing your future profits with partners or investors.
Build Your Credit
Borrowing money while your business is growing can help you build your business credit so that if a future business opportunity comes along or you need emergency funds, you will be in a better position to obtain affordable financing. Be sure not to overextend yourself. Your credit will only improve if you can make your payments on time.
Make Your Cash Flow More Predictable
Revenues and expenses for all businesses tend to fluctuate as market conditions change, but this can be particularly true for seasonal companies or those with clients who may not always pay on time. Bad credit business loans can provide you with a predictable source of cash, with a fixed payment schedule that you can plan for.
Get Your New Business Off the Ground
It can be a challenge for a new business owner to finance all of their business’ start-up costs through personal savings and equity funding. Start-up business loans can provide financing for the needed equipment that won’t depend upon securing investors or put your assets at risk.
Purchase New Equipment
Most businesses have machinery, vehicles, or technology that is vital to their operations. However, purchasing new equipment or upgrading old equipment can be a major drain of your cash flow. Business loans for bad credit or bad credit equipment financing can help you make these purchases, and in many cases, you can use the equipment you are purchasing as collateral for the loan.
Purchase or Upgrade Premises
Only a few things are more important to the success of your business than having the facilities you need to operate. If you need a cash flow injection to complete renovations on your existing property or to fund a rental deposit or down payment, a bad credit business loan can provide the cash flow you need.
A working capital loan may help your business fund short-term cash flow needs or provide emergency funds to cover an unplanned event, such as a fire or natural disaster. It can also be useful for purchasing raw materials, inventory, or hiring staff you may need to complete a large order or meet seasonal business needs.
Expanding Into New Markets
Increasing market share is important for the growth of any business. However, expanding into a new market or launching a new product or service usually requires cash for research-and-development, marketing, and other expenses. Business loans for bad credit can provide the cash flow you need to launch a new marketing campaign or start a new product line.
Hiring New Staff
Growing businesses usually need more employees. With the average cost of hiring a new employee totaling thousands of dollars, it can be difficult to make a major hiring push without financing.
Keep Your Business and Personal Funds Separate
It can be tempting to use personal funds to grow your business, but the IRS requires business owners to always keep their personal and business accounts separate. Dipping into your funds can also put you at risk of losing your assets and hurt your credit. Bad credit business loans can be a good alternative to using personal funds.
Get Money Fast
With the easy application and approval process of our loans can put money in your hands quickly. You can be approved for a working capital loan in as little as 24 hours and receive your funds as soon as five days.
Whether you want to take advantage of a business opportunity, expand your market share, renovate your facilities, or purchase new equipment, our bad credit business loans can work for you. For more information or to get pre-qualified for a business loan from First Capital Business Finance, call 888-565-6692 or contact us to start the application process.
How Bad Credit Business Loans Can Help You Grow Your Business | First Capital Business Finance