Get a very low credit score business loan.
Business loans with very low credit scores below 500 and as low as 383 are considered. This low fico program is a good match with bureau’s below 500 considered.
Data Secure 15 Second Request Form Here.
Call 919-771-4177 for more info.
Many programs do not offer small business loans with the owner’s credit score below 500, or have limited offers. Get up to $150,000 in funding considered with fico’s under 500 and down to as low as 383. Approvals is based mostly on company revenue and time in business.
Contact us below or first read the “Howto” section steps, direction and tips to getting low fico credit score commercial loan. Almost all callers discover they can qualify for some program.
Data Secure 15 Second Request Form Here
Call : 1-919-771-4177
How to get a very low fico credit score business loan
Step 1: Research companies that have low fico credit score business loans as main programs. Review minimum funding amounts, rates, features and benefits and processing time from application to completion.
Step 2: Tip: Prepare explanations or documentation for any unfavorable or incomplete information in your company’s profile. This can be slow revenue periods or not much reporting in the bureau.
Step 3: Choose the program that most fits your repayment history and overall customer profile.
Step 4: Make contact with funding programs and confirm your business meets minimum funding program requirements. Discuss amounts with the lender representative.
Step 5: Submit an application for funding. Provide documentation you have that improves your chance for an approval, higher offer amounts and better terms. This can include financial statements, additional bank statements or tax returns.
Frequently asked Questions FAQ:
Can I get business funding with a really low score?
Yes, your business still has an excellent chance of qualifying with strong cash flow and revenue. Providing the most recent bank statements showing you can make the payment will prequalify you.
Will we get less with bad credit?
Strong sales will still get the same or similar approval amount.
Can I get an offer with charge offs and delinquencies on my credit?
Your company can still get funding with the owner having charge offs or delinquencies. Programs include funding based on the monthly deposits or assets. Assets can be real estate or equipment.
Will my business need collateral with very bad credit?
Collateral is not required for approval with bad repayment history. Many customers qualify for unsecured programs.
Can a good credit co-owner get approved instead of me?
Another owner with higher scores can apply if they have 50% ownership. Strong co-owners with less than 50% ownership should apply under owner 1 and the other owner listed as 2nd owner.