Obtaining small business loans with bad credit can be a stressful task. Not to mention most traditional lenders, like banks, use your credit score to determine your creditworthiness. In general, with poor credit, it makes it that much more difficult to finance your business plans. According to a survey conducted by NSBA, or National Small Business Association in 2015, 27% of small businesses claimed difficulty in getting enough funding. Fortunately, these banks and financial institutions are not your only options Read More
Bad credit business loans are the best way to finance your business without breaking the bank. If you have a credit score below 630 and have trouble getting financed through more traditional channels, this financing option may work for you. So let’s say that you have a poor credit history. Lenders then conceive you as a high-risk investment. That means they will charge higher interest rates and offer shorter repayment terms. All this adds to the degree of a financial Read More
Bad credit loans 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. Read More
If your business is struggling, it just may be time to try bad credit business loans. When you have bad credit, it becomes virtually impossible for you to get a business loan approved from the bank. In fact, even when bad credit does not translate in to bad revenue, running the business on a day-to-day basis becomes an uphill task. So how then do you get funds? Bad credit does not necessarily mean a business is a total loss. Lenders Read More
Heavy equipment financing with bad credit: does it exist? Yes! Is heavy equipment financing with bad credit affordable? Absolutely. Most business owners, at some point or another, need heavy equipment to start their business or need upgraded equipment to continue growing and improve their service quality. Do any of these sound like you? You’re ready to start your trucking business, and you have everything you need except one thing: a truck. Buying a new semi truck isn’t exactly cost-friendly, and you Read More
Lately we’ve been receiving more and more calls from first-time semi truck buyers looking to finance a class 8 truck (semi-truck/tractor trailer) that do not hold a CDL (commercial driver’s license). Our industry refers to these type of buyers as “investor buyers.” As you might have guessed, there are some programs available for non-CDL business owners. Later in this post we’ll discuss the available programs and what to expect when trying to finance a Class 8 truck without a CDL. Read More
If you’ve been in the construction business a while you might be wondering about cement silos and if Cement Silo Financing is right for you. Before we talk about how to get cement silo financing, let’s first look at the different types of silos available. Are You Interested in Cement Silo Financing There are several types of cement silos to suit your needs. Different Types Are Available There are several types of silos available. The main three types we’ll be talking about Read More
Carpet cleaning equipment financing is one of our specialties at First Capital Business Finance. We understand the unique challenges the industry poses and offer a wide variety of financing programs to suit your needs. With First Capital, you can get financing no matter if you have excellent credit, bad credit, or even previous bankruptcy. We know there’s so much more to your business than a credit score, which is why we offer bad credit business loans and bad credit equipment Read More
Commercial equipment leasing is an excellent choice for a business that’s just starting up and getting out there. It’s a great way to help your business grow and mature. Unfortunately, many do not end up with the financing plan that’s best for them. At the end of the day, you want to be able to feel like you’ve made the right decision for your business and that it will have a positive impact. The world can be pretty unpredictable, but Read More
It may seem like an impossible feat to attempt to get business loans with bad credit. While it is true that the health of your credit score can affect your chances of getting a loan approved, bad credit does not have to mean the end of your business. Poor credit can signal a ton of things to a lender – lack of or poor financial management skills, not enough revenue, among others – but don’t allow them to define Read More
