There are many reasons why your business may be in a situation where it requires fast funding. Have you experienced getting a “no” from your bank when applying for funding to boost your business? Was the reason due to bad credit?
Times of natural disaster can force businesses to close and therefore lead to a loss in revenue. In addition, if you have experienced personal issues like divorce or the loss of a business partner, you may be in need of funds. Unfortunately, if you have bad credit, it can make obtaining funding extremely difficult.
Traditional bank loans will be difficult if not impossible to secure. Because you are carrying bad credit, your business with be viewed as “high risk” in the eyes of any bank, and you and your business will be turned away simply because your personal FICO score is too low. Since bank loans always have the best rates and terms, this is unfortunate.
Don’t despair, there are options out there for you that will prove to be a helpful option for your business – regardless of your bad credit. They will provide the means necessary to provide fast capital, allowing you to buy inventory, advertise, make payroll and hire employees without hurting your cash flow.
Merchant cash advances are growing in popularity as a business loan alternative. With 1st American Merchant Funding, your future sales are purchased at an agreed amount and at a discounted cost. The payback process is hassle free, since your payments are automatically held from your credit card transactions. If you experience a slower month than usually, you don’t have to worry; the payment that is withheld is a percentage of your daily sales – revenue based.
With 1st American Merchant Funding, bad credit is not a problem. In fact, 1st American Merchant Funding specializes in providing funding to business that are considered “high risk” and/or that are experiencing bad credit. Credit scores below 500 are approved, and no tax returns or financials are required. Take advantage of their simple, flexible and hassle free program and obtain your funds as quickly as 72 hours from application.