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Small Business loan

Personalized Small Business Loans for Bad Credit

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Small Business Loans For Bad Credit Are Smart Investments

Running a small business is a demanding task; one has to keep up with the latest trends. Fortunately, with the advancement in the direct lending industry, small business owners have multiple small business loan options today—including term loans, lines of credit, equipment financing to invoice factoring. Merchant Advisors can help you determine the right financing solution for your small business. Fill our loan application form to get started and our loan specialists will handle the rest.

At Merchant Advisors, we offer complete freedom to our clients to use the money, as they please, for the fast and rapid growth of their businesses. We take care of your financial problems so you can have time to focus on what matters to you the most - your business.

How Can Small Business Loans For Poor Credit Help You?

  • Launch innovative marketing campaigns
  • Renovate or remodel
  • Steady cash flow
  • Purchase new equipment
  • Open another franchise
  • Pay bills, taxes, and vendors on time
  • Improved facilities
  • Introduce a healthy company culture

How to Qualify for Small Business Loans for Bad Credit?

While evaluating borrower’s eligibility, three main factors go into the business loan qualification: credit score, time in business, and annual revenue.

Your Credit Score

Lenders take into account both business and personal credit score to determine borrower’s eligibility. A personal credit score is the most important factor in a small business loan application – influencing the most in getting the best loan deal. The higher your credit score is, the better will be your chances of obtaining affordable business funding.

Before you make a loan application, it's better to check your credit score by pulling out your credit report from top three credit bureaus to know exactly what lenders will be looking at. The credit score you’ll need to qualify for a small business loan is generally based on the loan you’re applying for.

Generally, direct lenders want you to have a credit score of 550 or more, but you can secure better business loan offers if your credit score is higher, preferably 620 or more.

Time in Business

Time in business is another important factor in your small business loan qualification. Lenders are unwilling to lend to new businesses. According to the Small Business Administration (SBA), approximately 80% of new businesses will survive the first year.

If your business is around for 2 or more years, it will improve your chances of securing business funding. Business owners with at least 2 years of time in business will have more business financing options, and might qualify for a bank loan or SBA loan.

For startups and new businesses, business credit cards are a great business funding option to secure startup business capital.

Annual Business Revenue

Your business annual revenue is also a crucial factor that lenders pay attention to when determining small business loans qualification.

By looking at how much money your business is generating, will help lenders determine the amount of money your business might qualify for. They want to know how much your business can afford in terms of monthly payments, rather than approving you for money more than your business is generating each month.

See if you qualify for a small business loan for bad credit.

How to Apply for Small Business Loans for Bad Credit?

1 - Required Financial Documents

Applying for a small business loan can be an arduous process, based on the type of loan you are applying for. Every lender has its own set of requirements for approval and paperwork. To be on the safe side, have a look at the most important financial documents that might be required by the lenders:

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Applying is free and it won't impact your credit

2 - Shop Around for Best Small Business Loan Offer

With so many small business loan options available, selecting the best loan offer can sometimes be frustrating. The key is to shop around for the best small business loan offer. And this means reviewing each loan’ option cost, term, and repayment structure.

Fast, Personalized, And Simple Loan Application

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Small Business Loans for Bad Credit from Merchant Advisors

Unlike traditional lenders, Merchant Advisors provides personalized financing to businesses. We take the time to understand your business and financial challenges, and not just your credit profile. This helps our process easier to get you the customized business funding your business needs to grow and succeed.

Small business loans for bad credit from Merchant Advisors don’t require collateral or a down payment. Apply today and we’ll get you a personalized business financing solution that’s tailored to your small business needs without the hassle. Contact us now!

Why Merchant Advisors?

At Merchant Advisors, we understand your unique needs and provide customized small business loans to keep your small business progressing.