Obtaining Direct Business Lending with Poor Credit
Does the need for working capital to sustain your small business keep you awake at night? Do the obstacles of obtaining direct business lending seem too difficult to overcome? Think it’s impossible to obtain small business funding with poor credit?
If you answered yes to any of these questions, listen up, because there is a solution to obtaining funds to grow and sustain your business. The solution is a Merchant Cash Advance, an alternative to the traditional small business bank loans. By contacting a specialty financing firm, you can get your business back on track without worrying about the effect your credit score will have on the approval decision. Put an end to the nightmare of secure funds with Merchant Cash Advance.
Credit Scores have Little Impact
It is possible to be approved and receive funding from specialty financing companies with Merchant Cash Advance despite poor or bad credit. When these lending companies are reviewing your application, they are looking at the business as a whole. Approval decisions weigh heavily on factors other than credit scores.
Requiring minimal upfront documentation, approval can come within days. When one has bad or poor credit, conventional business lending companies will typically shy away from this risk. But isn’t business built around risk? Merchant Cash Advance lenders are aware of the risks but don’t require a business owner to put up collateral.
Bank Loans & Credit
Before the alternative funding solution from Merchant Cash Advance, the source of direct business lending was banking institutions. These institutions have always been uncomfortable loaning funds to those with poor or bad credit, preferring not to take a chance on someone who has an unfavorable credit history. In the review process, one glance at your poor credit history report will typically result in automatic rejection.
When a bank agrees to provide funding solutions for your business, they will require a business owner put up assets as collateral. To ensure repayment of funds lent, the bank has the right to absorb the assets if the business fails, thus creating a lose-lose situation for business owners.
Avoid the banks and their extended approval processes which can last a month or longer. Receive approval and funding quickly despite a not-so-stellar credit history with Merchant Cash Advance.
When You Need Funds Fast
Time is the benefit of Merchant Cash Advance. Applications require minimal upfront documentation and approval comes within days of applying. Most firms will require that a business meet their individual length of operation and average monthly sales requirements. Once approved, a business owner can receive fast funding. This allows business owners with bad or poor credit to turn their business around. Business owners will now have the flexibility to use the funding from their cash advance for any expense to grow and sustain their business. If your company is sitting on unpaid invoices, desperately needs new equipment, looking to renovate its location, or is interested in expansion; contact a specialty financing company to maximize the growth and potential of your business.
Acquiring funds is quick and easy with CFG Merchant Solutions. We are a privately owned and operated specialty finance, and alternative funding platform. Our focus is to provide capital access to small and mid-sized businesses in the U.S.
At CFGMS we are not bankers or middlemen. We are direct funders that care about your business. Entrepreneurs ourselves, we have experienced first-hand the frustration in acquiring flexible and timely financing. CFGMS uses proprietary analytics and technology, along with good, old fashioned common sense underwriting to provide fast and efficient access to capital.
We value relationships as much as the speed and efficiency of technology. Our working capital programs include; Small Business Advance, Merchant Cash Advance, Invoice Factoring, and Purchase Order Funding. Apply for funding today!