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Options for Small Business with Bad Credit
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Many small businesses know all too well the difficulty of obtaining a small business loan, not to mention small business loans with bad credit. If your business already exists or you're just now considering a new venture, the need for financing and cash flow is necessary. However, if your personal credit history is less-than-perfect (or downright bad), it is going to be even more difficult, since small business loans for bad credit are harder to obtain.

Small businesses need money to get off the ground or to help pay for initial inventory, facilities or even employees; and many businesses will have a need for supplemental cash flow through traditional loans and resources.

Collateral may help get approvals on small business loans for bad credit and help an individual to survive the period of disappointing personal credit. If the borrower owns a home, expensive cars or other valuables (artwork, antique jewelry) he may have an easier time.

An alternative for merchants who don’t qualify for small business loans due to bad credit is to borrow against his or her credit card receivables; and it works like this: a company will purchase a portion of a the MasterCard and Visa credit card transactions at a reduced price. Then they'll retrieve a set amount from future daily transactions until the cash advance is repaid. It's a fairly simple process that may free a merchant from taking a loan. A few options for this service are shown below:

Merchant Credit Advance provides our clients with this option. If a business wishes to grow and increase profits, but needs additional capital to do so, MCA is the answer! The amount supplied will not exceed what credit card transactions have proven as consistent for several months, so worries against over-extension are limited. MCA typically grants advances from $5,000 to $150,000.

Small business loans for bad credit may be scarce and expensive. Even if a business manages to qualify with bad credit, repayment plans can be rough. In these cases, an advance against receivables with MCA is a perfect solution. There's no fixed payment and the repayment amount is deducted automatically from credit card transactions, making it virtually invisible since you never take control of that money. Additionally, less-than-perfect credit is not an automatic disqualifier with MCA. This provides hope for those small business owners with poor credit.

If you're seeking a quick cash advance for your business with less-than-perfect credit, consider MCA. We’ll provide you with business capital to find financial success!

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