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Guide to No Credit Check Business Loans or Funding

Modern businesses are often faced with economic ebbs and flows and enormous changes. This makes even established companies end up with less than perfect credit scores. Though it’s not easy to find a business lender that doesn’t check your credit, it’s not the end of the world. With a reputable business funding provider, you can enjoy no credit check business loans that can help you grow easily.

Business Funding Landscape: No Credit Check

The small business lending landscape is no longer the same as it was years ago.  Of course, not all challenges are eliminated. However, today’s merchants are in a more favorable situation than in the past: even those who’re plagued with bad credit.

Business loans without any credit check are great for merchants without excellent credit. Also, they’re fine for those who want to stay away from personal credit inquiries. Besides, there’re a nice option for merchants who want to separate their business and personal expenses, or those in need of quick working capital.

No Credit Check Business Loans

Do you have a poor credit history or is your credit score below 550? Maybe you don’t want to damage your credit score with multiple credit checks when looking for a business financing, do you? Well, no matter what the reason is, the best thing to do is to turn to a respectable lender that can approve you for funding without credit check.

Here’re some popular options:

  • Invoice Factoring

Invoice factoring is a kind of accounts receivable financing in that a company sells its outstanding invoices to a factoring company for a reduced rate. Factoring companies will, as a rule, pay a company in 2 installments: one as an advance rate and the other as the remaining invoice amount without any fees and discounts.

  • Invoice Financing aka Accounts Receivable (AR) Financing

In this case, you’re allowed to presell your unpaid invoices to another company in exchange for a lump sum payout. Invoice financing is backed by assets, and personal credit doesn’t have any impact on it.

Merchant Cash Advance (MCA) Without Credit Check

A merchant cash advance (MCA) without any credit inquiry is a lump sum you can get in return for a fixed percentage of your daily credit card sales. Remember that an MCA isn’t a loan: it’s just a sale.

With a reputable alternative online lender and processor like First American Merchant, you can easily get approved for no credit check business loans, as well as for a merchant cash advance. FAM’s popular merchant cash advance is low cost, reliable, and has no difficulty to obtain.

First American Merchant specializes in the high risk field and offers unique business funding opportunities to merchants of any type and size. FAM boasts an A+ rating with the BBB.

  • Purchase Order Financing Without Credit Check

Purchase order (PO) financing is a lump sum advance amount that you can use to pay suppliers for goods/services that a business is reselling/redistributing to a customer with a signed purchase order.

Small Business Line of Credit

Expect to receive up to $100k – $250k. Lines of credit are like business credit cards: both offer a credit line that you can access whenever you want. You’ll be required to pay back the amount you use.

  • Revenue Based Financing Without Credit Check

Revenue based financing (RBF) is a loan that offers its repayment terms due to a percentage of the revenue of your business.

Business funding with no credit check is sometimes the only or the best choice for certain businesses. If you need funding of this type, just shop around to find the best provider in your field.