What Is A Small Business Bad Credit Loan?

A bad credit business loan is exactly what it sounds like — a form of business funding that is meant for those who have less than exemplary credit history. While credit is an important element in determining the amount of funding and factor rate, it isn’t the only thing that matters.

At Fast Capital 360, we evaluate a number of factors to determine how much financing may be available for a given applicant or business and what their fees will be. If you’ve been wondering where to get the best business loan fast online, you’ve come to the right place.

Poor credit is a sign of a troubled lending history, but a credit score can be marred by various experiences. Late mortgage payments, filing for bankruptcy, high credit card balances, a large number of credit applications, defaulting on a loan and other payment issues can harm a credit rating, even if these events took place several years ago.

For small businesses on their way back into better financial standing, bad credit business loans enable them to still borrow the operating capital they need and pay it back quickly with a payment schedule that is convenient for them.

What Is A Bad Credit Score For A Business?

A credit rating between 500-600 will certainly affect the amount of lenders willing to finance a small business, and the majority of banking institutions don’t even offer loans to those with scores this low. Fast Capital 360, however, is able to finance those with credit scores at this level. This credit rating is considered poor to fair, which closes some avenues to working capital funding but not all of them.

Fast Capital 360 can even fund some businesses with a personal credit score of below 500. By evaluating other determinant factors in a business aside from personal credit score like short-term business history, operating revenue (a minimum of $75,000) and how long a business has operated for, we’re able to find lending options for those with bad credit.

Fast Capital 360 has provided short-term loans for small businesses across the country even when their borrowing history isn’t perfect; it’s just one of the reasons that we’ve consistently been considered one of the best resources for small businesses.

Did you know: less than 25% of small business loan applications are approved by major banking institutions.

Even if you have bad credit from previous lending experiences, in most cases we’re able to find the right business funding for you. From business equipment funding to working capital, a poor-to-fair credit rating shouldn’t stop you from receiving the financing you need to continue operating your business.  

If you’ve been hunting around for the best bad credit funding option, give one of our business advisors a call to learn more. Our merchants have voted us number one in merchant cash advance companies and small business loans because we find a way to secure funding for every business.

For more information on why Fast Capital 360 is the best choice for your small business, contact us today at 800-735-6107.

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and won't impact your credit score.