How to get a business loan EVEN with bad credit
As many entrepreneurs are aware of, starting a business is no easy task. The constant obstacles and problem solving push many business owners to take personal loans and or max out credit cards in order to keep their dreams alive. This becomes a compounding problem because when business owner's credit takes a hit they lose the opportunity to qualify for SBA and traditional bank loans. This is because bank loans are credit driven, and even if the business owner has learned from their mistakes and has built a successful and profitable business the banks will still be forced to decline due to a poor credit score.
There is no secret banks are strict when it comes who they give their money to. The application process is long, painful and full of stipulations. They drag the process for months just to decline for any reason they want. While "the man with the money, makes the rules" still stands true,it is extremely unfair to business owners. Entrepreneurs who courageously risked it all for a better life are being held back because banks are not willing to work with a merchant who's credit does not meet their criteria. For many business owners, their quest for funding ends there. They have exhausted their resources of friends and family and many are forced to close their doors.
Luckily there are alternate financing options that many business owners are unaware of. Private lending institutions that understand a credit score does not make a business. The process for this type of lending is quick and easy with minimal paperwork and incredible approval rates. This type of lending is not credit driven, it is revenue based. Underwriting teams will evaluate a businesses bank statements and determine how much capital they can handle. This is so HUGE for business owners who may have taken a hit on their credit early on and have been declined by every bank in town. Business owners with poor credit are now eligible to multiple financial products such as Line of Credit, Merchant Cash Advance, Invoice Factoring and Consolidations.
At Riverstrong Capital our mission is to help businesses succeed by providing top notch service to merchants seeking fast and easy alternative funding. We build long lasting relationships with out clients and always have their best interest in mind. When you get paired with a funding specialist they will go over the different financial instruments to see which will program we be the best fit to meet your financing goals and walk you through the application process.
Get approved in hours. Free no obligation proposals. To get started apply online at RiverstrongCapital.com and a funding specialist will reach out to you within hours.