When you’re looking for bad credit small business loans today you need to use you use a black belt approach to be successful.
Businesses with good credit often have trouble getting small business loans these days.If you take black belt martial arts actions you get a loan now rather than much later. Here are some steps to consider for your success.
Separate Your Assets
If you have some time begin by separating your personal credit from your business credit.
First you will have to form a corporation or limited liability company for your business. Both corporations and LLCs will help protect your assets, a benefit that sole proprietorships and partnerships do not offer.
Next, apply for an Employer Identification Number, also called a Federal Tax Identification Number, under your corporate or limited liability company name.
Stop commingling personal and business assets. You will need separate bank accounts, checking accounts and credit cards for your personal transactions and your business transactions.
This will allow you to start building credit for your business without having your personal credit cloud the picture. The goal is to slowly build up your business credit while cleaning up your personal credit at the same time.
Keep in mind that suppliers may not give you a line of credit at all for awhile. They may require you to pay cash in advance or COD for a period of time so that you can establish a working relationship.
Although this is not a quick fix to your credit problems, it is probably the healthiest way to go.
Consider Unsecured Cash Advances
Some businesses offer unsecured cash advances to small companies with bad credit by paying cash advances based on credit card sales or total sales. Payments that are not fixed will rise and fall, based on monthly sales volumes. Typically speaking, requests for cash advances are almost always approved and approved in a timely manner. You may get your cash advance a few days after you apply.
Use caution when considering these lines of credit. Some come with serious strings attached, such as high interest rates or fees. Most companies will automatically take the money from your credit card sales. That could be a problem if you have a sudden need for capital to cover payroll or supply chain expenses, since you won’t be able to rely on revenue from credit card sales.
Other Options if You Need Money Now!
1. You can, of course, approach family and friends for loans. You may also reset your personal budget and cut out frills to increase your cash flow until your situation improves.
2. Another option is to use any credit cards that you may have, keeping in mind that the purpose of using the cards is to not only finance your business, but to repair your credit rating.
3. Another option is SHORT-TERM BUSINESS LOANS THAT EMPHASIZE BUSINESS HEALTH OF YOUR BUSINESS, NOT CREDIT SCORES
Let me explain…
We offer a solution to every business owner who needs capital now! And the solution is fast, seamless and easy. Not every business can wait 30 to 60 days for a loan to process,and some businesses have been denied credit due to lower credit score, low loan amount or because the bank itself is strapped.
We now offer short-term business loans from $5,000 to $250,000 to small businesses for a period of 3 to 18 months. Daily repayment is made seamless through ACH payments. Theapplication process is streamlined and easy, the documentation requirements are light, and we make the process as simple as possible – so you can focus on your business.
We recognize that many small businesses today have short-term and immediate need for quick loans. The business may have a lucrative opportunity and can’t wait for a month or two to access capital. Or the business may need to buy or fix equipment essential to operations now.
Perhaps the business has inventory needs, which will bring more to the bottom line. Maybe a business is expanding and has capital needs (hiring, marketing, more inventory or lease expansion). Or perhaps it is in the process of applying for an SBA loan or a refinance, but has immediate needs until that loan is funded.
We can help with short-term business loans today!
Underwriting focuses on the company cash flow and ability to repay, and does not put much weight on credit scores. This can be helpful to businesses that have not built a credit history since the recession began and it can be helpful to those seasoned businesses with a less than stellar credit score (which may be a personal score and has no reflection on the business.
Who is Eligible?
Businesses located in the U.S. or Puerto Rico.
- Businesses which have been generating revenue for at least 1 year, and typically have $100,000 + in annual revenue, though businesses with $250,000 in annual revenue and above are favored.
- More than 350 industries qualify, including retailers, service providers, contractors, restaurants.
- Underwriting for our small business loans place weight on cash flow and an operating business rather than personal credit scores. The threshold is at least a 500 credit score, of which a majority of people in the U.S. have.
- Typical small business applicants are those with a steady base of clients and credit card transactions or checks for services. Dentists, doctors, restaurants, plumbers, contractors, auto industry, beauty salons, grocery stores, retail shops, veterinarians and hotels are but a few of the ideal candidates for short-term loans.
Fast and Easy Process!
A one page application and 4 months of bank statements / merchant credit card statements if your business takes credit cards is all we need to put together your offer! If you want to include an annual Profit & Loss statement or additional bank statements (if your business is seasonal, for instance), you certainly can.
It is that easy!
Approvals are typically given in twenty four hours, and the loan can be funded in as little as 3 to 4 business days. Before funding, business tax statements maybe required based on the type of loan you select.
Are you an Ideal Candidate?
- You are a small, healthy business with a customer base and steady cash flow (minimum $100K annual)
- You have been careful about paying your bills (even if your personal credit score may not be stellar)
- You have an immediate need for a loan, and your needed use will typically generate more cash flow to your bottom line.
A Word on Credit Scores
We realize that some newer businesses may not have built much history, and because of the recession and capital market crisis, may not have been able to borrow. Others may have suffered drops in personal credit scores for any number of reasons – which are not related to or directly involved with the small business.
This is why credit scores are given far less weight for our short-term business loans. If the business is working well for at least a year and has steady cash flow, and the loan will help the business with demonstrated ability to repay, then credit history and credit scores will not be considered very strongly.
Are These Loans Considered Merchant Cash Advances? No. These loans are true short-term business loans with fixed payments and terms. These loans are typically up to 45% less expensive than merchant cash advances.
Apply Today! Call 415-678-9965 to Get High-Performance Growth Strategies and Loans to Radically Expand Sales, Profits in Business…Ramp revenues, produce profits, capture market share, build wealth, and sell your company for the most money possible
For $1 for the First 30 Days we’ll help you To Generate an Extra $10,000 of Bottom Line Profit
We’ll make Sure You Get Paid First, Well Help You to Increase Profit and Cash Flow…We’ll Give You a Guarantee Up to a 500% Return on Your Investment and
Get You Unsecured Working Capital for Your Business
We know what matters is the results you achieve and not the time that I put into helping you.
That’s why we offer a guaranteed of up to 500% return on your investment on our coaching fees – if you can’t see that you’re going to get up to five times what you pay us back as profit for your business in the foreseeable future, we’ll refund your money.
We sincerely hope you enjoyed reading today’s message.
To your higher profits and business success,
The Business Doctor
Business Development Director
Profit Builders Inc.
1st Degree Tae Kwon Do Black Belt (Kukkiwon)
Former 10th Special Forces Member
Email: email@example.com or firstname.lastname@example.org