Today you can get an Unsecured Business Line of Credit with Bad Credit. Our business loan program focuses on your business, not your personal credit score or history.
Because we require your business to be open for at least three months, we will need three months of your businesses bank statements. Your business must be generating income; this is why we need your bank statements to check your businesses cash flow. Based on that, we will determine the loan amount and terms.
The amount of money you can get is $ 5,000 to $1,000,000 of Unsecured Business Line of Credit with Bad Credit. You can use funds without any restriction, for example; to secure Real Estate or get fluid capital for your business. This program is only for US based companies.
Let us here at Square Capital Funding be your “Business Funding Solution.” We have no UPFRONT FEE and no BACK END FEE. For this program there is NO FEE at all because we are a performance based business.
We have a high rate of approval, 95% of all applications are approved and funded. Our most important requirement is your business income, we have to see monthly cash flow minimum of $7,000 each month on your business bank statements. All businesses are ok; we do work with high risk industry.
Small Business Loan Bad Credit;
Our underwriting process is fast and simple. In order to start we need an application (you can get from here) and 3 months of your business bank statements. In a few hours, we will give you few offers with a few loan scenarios (different loan amount and terms). Once you decide which option is best for you, the last thing we ask for is usually your driver’s License, a voided check, and your business license. After this we are ready to fund. Money is deposited directly to your bank account. The entire process can take 2-3 days.
- Loan payback time is typically 3 – 18 months, there is no pre-payment penalty, and we can extend longer if your business is having any problems with repayment.
- Minimum credit score of 500
- There is no classic interest rate, we count interest in different ways, for example; $1 borrowed – you have to pay back around $1, 15
- After your loan is 60%of the way paid off you can take another loan.
- If your business is new, and your cash flow is poor, we can give you a starter loan of $5,000 – $10,000.After you pay off your loan, you can get a much higher amount.
- Loan is never reported to your personal credit history, but will be reported to business credit agencies to build your business credit history.
Unsecured Business Line of Credit with Bad Credit; As you can see above, it is very simple to get started on your loan process today!