How Do I Get Business Financing With Bad Credit?

Taken for the Ezine artice: How Do I Get Business Financing With Bad Credit?

Here’s the situation;

You’re in the process of trying to get extra capital for your business. It might be for equipment upgrades, remodeling, a new location or extra inventory for your busy season. Getting the cash you need could really take your business to the next level. The problem is that because of mistakes you may have made in the past, you have a less than stellar credit score. Whatever the reason, your credit score is keeping your business down and keeping you from lucrative business opportunities.

What are My Options?

What with the current financial situation, banks are barely lending to anyone right now, let alone someone with poor credit. What do you do? What other alternatives are there? Perhaps you should consider some alternative methods of business financing.

In an entrepreneur.com article titled "Funding Options for Bad Credit Risks," author Asheesh Advani wrote an article explain that bank financing only accounts for 25 percent of total funding needs of early entrepreneurs. "This statistic is interesting because it implies that 75 percent of the money you need can come from other sources that rely less on your credit rating," writes Advani.

Business Cash Advance

A business cash advance is one of the best bad credit business loan options. Business cash advance lenders focus on a business's monthly credit card sales volume rather than the borrower's credit score. If you own a business that processes at least $2,500 per month in Visa/MasterCard sales, you’re already halfway there to getting a business cash advance. Another benefit of financing a business through a business cash advance is the fact that there is no collateral required.

How does a Bad Credit Business Loan Work?

Payments are made as a small percentage deduction from daily credit card sales over a period of six to eight months, and business cash advance recipients are encouraged to renew their accounts and obtain even more cash once 60 percent of their advance has been repaid. As many as 85% of those who have received a cash advance actually take out another advance.

More Bad Credit Business Loan Articles

• What's So Good About a Bad Credit Business Loan?
• Bad Credit Business Loan Repayments

The benefits of a business cash advance from Merchant Resources International are:

• Flexible Terms; there is no fixed timeframe for repayment.
• Flexible Rates; there are no fixed payment amounts.
• Completely automated payment structure; no monthly checks to write.
• We get paid only when you get paid.

How our bad credit business loan works

Here's how it works... You sell us a dollar amount of your future credit card sales at a discounted rate. Through a totally transparent and automated process, you pay back the advance by allocating a small percentage of each credit card transaction to us.

Qualifying for a business cash advance through Merchant Resources International is easy. The process is simple;

• Fill out and send back our easy two page form.
• Show that you have been in business for at least 4 months.
• You need to accept Visa and MasterCard.
• You need to make at least $2,500 in monthly credit card transactions to qualify.

You can use your business cash advance to:

• Expand your business, perform renovations or add additional locations.
• Increase your product line or add seasonal merchandise.
• Meet unexpected expenses.
• Purchase new equipment or inventory.
• Advertise and promote your business with new marketing programs.
• Buy out a partner.

How to apply for a Business Cash Advance?

Unlike traditional loans, applying for our bad credit business loan is easy. There is very little paper work and you are typically approved within 48 hours. Let one of our business cash advance specialist get in touch with you today and receive a free, no-obligation quote! Fill out the form on the right side of this page or call (800) 277-1750 to speak with a specialist and get the cash you need in as little as 7 days.