Merchant Cash Advance: The Right Choice for Businesses with Bad Credit

A vast majority of businesses do not have access to enough capital to cater to all of their company’s needs. Owners have a choice to either risk their own personal savings to help grow their business or seek outside sources to get the capital they need.

Businesses these days have many different options to get capital, such as traditional loans from a bank, venture capitalists, and business merchant cash advance providers. With all these different types of sources, it can be challenging for a business to decide on the best option of funding for their business needs and goals.

Traditional business loans can be very challenging for business owners to obtain, making it nearly impossible to pursue growth for their business. Traditional business loans often require extensive documentation, collateral, and a good to excellent credit score. Venture capital financing, on the other hand, requires the business owner to give up equity that they have worked hard to build. For many business owners who do not want to collateralize a loan with their own assets or by giving up equity in their business, unsecured business financing from a business merchant cash advance provider can be the ideal financing option.

Unlike traditional lending options, business merchant cash advance providers do not require their clients to have perfect credit. Business merchant cash advance providers can provide a small business unsecured business funding with bad credit because a merchant’s deposits are drawn on a daily basis until the obligation has been met. Also, business merchant cash advance companies do not require any collateral in order to receive capital. These lenders provide immediate access to lines of credit to help small businesses grow and improve their business without having the owner risk either their own personal assets or those of the business. While a business merchant cash advance can be slightly more expensive, in return a business can obtain a much higher value for their business. Although a business merchant cash advance is not the cheapest option, it is definitely the most appropriate and beneficial source of funding for many business owners who are seeking a line of credit with a poor or bad credit score. Businesses receive funding from an merchant cash advance provider within a few business days, and can use the money however they deem fit. The speed and ease of receiving a merchant cash advance makes it a very viable option for a business in need of immediate capital or experiencing either a slow or busy season, or seeking to exploit a business opportunity as quickly as possible.

There is no one type of funding that is right for every business. Knowing where to get a small business loan with bad or poor credit can seem impossible as there can be many factors at play. Fortunately, there are solutions for businesses with bad credit and no credit, and the lack of being able to get a bank loan shouldn’t be a deterrent for a business owner who wants to make their dreams come true.

Applying for a Business Merchant Cash Advance with Bad Credit

Short-term cash advances typically require businesses to provide documents such as:

  • Past bank statements and business tax returns
  • Business license/certification
  • A copy of the business owner’s driver’s license/other government-issued identification
  • Profit and Loss Statements
  • Regardless of low FICO scores, our business merchant cash advances feature simple paperwork, fast turnaround, and flexible payments. Contact and apply today or call 1.855.227.6168 to explore your options for bad credit business merchant cash advances.