How to get money for Payroll

Get money for payroll today.   Same day funding available.  If your business is interested in how to get money for payroll immediately, call us or apply now below:

Complete the secure docusign application now.
Or call us at Tel:  1-919-771-4177, or Question? Tell us what do you want to do?

How to get money for payroll:

  1. Review your payroll needs.  Calculate how much you need, for how long and how soon.
  2. Get your business financial information together.   This includes an interim or monthly profit and loss statement, copy of your monthly payroll, tax returns and bank statements.
  3. Look for payroll finance companies that meet your needs and requirements.
  4. Contact qualifying companies and request their qualifying criteria.    Match and prioritize your needs with company that meet your criteria and can qualify with.
  5. Once approved, review terms and contact.  If accepted, provide all closing documentation and complete transaction.
    Received funds for payroll into your business checking account.

F.A.Q.’s, Frequently asked questions, comments and requests.

Need money for payroll asap.  Can you fund payroll today?
Answer:  In many cases, yes.   If you qualify and apply before 2 P.M., same day funding may be possible.

How to get money for payroll asap. Fast payroll financing.
Get money for payroll same day or next day. Use the financing each time you need funds for payroll.

We may need money for payroll again. Can we use this financing in the future to financing payroll?

Yes. You can use the financing like a line of credit. You borrow, repay and reuse the line again.

“How long can we borrow the money for?”

Terms are usually 30 to 90 days. Options are available for longer term if your business qualifies.

How can you get money for payroll?

Find companies that offer company payroll financing.

Find out what their requirements are.
If qualified, apply.
Once approved, provide all closing documentation required.
Receive funds into your business checking account.

More F.A.Q’s. frequently asked questions:

What if I have 1099 contractors and are not official employees of the company?

Indicate this when applying.    There are programs available to financing your employees if they are 1099 employees.

I only need payroll financing this time and do not expect to need it in the future.  Can I get longer term payroll loan?

There are longer term programs  if you believe your company will rarely need payroll financing in the future.   Terms available are monthly and can be financed for as long as three to five years.

Is credit important when applying for payroll financing?

Credit is not a main factor in payroll financing.   The strength of your business and cash flow of your business is more important.

If I do not qualify for payroll financing, are there other programs available?

If your business does not qualify for payroll financing, there are other programs you may qualify for to meet payroll.

These include the following:

Bank statement loans
Loans based on the cash flow of your business.   If your business generates more than $7,500 per month in deposits and has more then 4 deposits per month.

Accounts receivables financing
If payroll financing cannot be obtained, another option is also accounts receivables financing.  If your business is waiting more than 2 weeks to get paid on invoices and needs funding within one or two days, consider accounts receivables financing.    Get paid approximately 75% of the face value of the invoice immediately.   Once the company you have invoiced pays, get the remainder less a 1% to 4% fee.

How to get money for product orders

How to get money for product orders:

  1. Determine how much money the business needs.
  2. Find a funder that specializes in business funding for product orders.
  3. Contact the lender and find out the approval criteria.  If your business meets the criteria, apply.
  4. If approved and terms are acceptable, gather required closing documentation to fund loan.

Get money for product orders now.   Call below for assistance.

Complete the secure docusign application now.
Or call us at Tel:  1-919-771-4177, or Question? Tell us what do you want to do?

F.A.Q.’s: Frequently asked questions, comments and concerns:

“Need money for product”. “How can I get money for product orders”
Answer: Work with a program that specializes in getting money to businesses for product orders. Many lenders do not offer this specific type of financing but may offer a financing product that is a bad fit for your need to get a business loan for product orders that you need asap.

Can I get a loan for product orders the same day?
Answer:  Funding may not be available the same day.   If approved, funding can take place within 2 or 3 business days.   After your company has completed the job, you may qualify for accounts receivables financing.

What is looked at for product order financing?
Answer:  Some of the main things that are looked at to qualify for product order financing include:
The quality of the company your business is providing product for.
The likelihood that the company your business is providing product for will pay after the product has been received.
The strength of your company.   Does your company have the financial strength to withstand not being paid for 30 to 60 days after delivering the product?
Can you qualify for accounts receivables financing?
After product has been delivered, your company will send out an invoice.  If the company that has received the invoice has a history of waiting 30 to 60 days to pay, then they will also be looked at to qualify for A/R financing.

Can my business afford an mca merchant cash advance?

How can I figure out if my business can afford an mca merchant cash advance?   Information to help calculate if your business can afford an mca merchant cash advance.   If so, step by step instructions on how much of an advance your business can afford.   To get more information or apply for an advance safe for your business, begin below.
Complete the secure docusign application now.
Or call us at Tel:  1-919-771-4177, or Question? Tell us what do you want to do?

Can my business afford an mca merchant cash advance?

  1. Find the lowest deposit month of your last 3 months business checking account deposit totals.   Example, $50,000.
  2. Take that figure and multiply it times .20.  This is approximately the amount you should conservatively be taking for an mca merchant cash advance.
  3. Contact mca companies and apply.   If you are approved for more than your recommended safe amount,  do not take more unless you are sure you can make the payments.
  4. Close the cash advance and funds are deposited into your account.

How much of an advance can my business afford? Example, how to calculate:

Below is an example of how to calculate a conservative funding amount.

  1. Look at your most recent (3) months business checking account statements.  Find and add the amount of your total deposits.  Most banks give you one amount and list it as “total deposits”.   Some banks will also have a separate entry for electronic deposits.  If your bank itemizes different deposit types, add them up.  Example figures are below.
    December total Deposits $25,000
    January total Deposits = $15,000
    February total deposits = $19,000
  2. The lowest month is January at $15,000 in total deposits.   Multiply $15,000 X .2 = $3,000.     $3,000 is a safe and conservative amount.   
  3. A more aggressive amount is $15,000 times .5 = $7,500.
  4. Figure out your daily payment.   On average, the term of an mca merchant cash advance is approximately 6 months.  For $3,000,  your daily payment will be approximately $3,000 X 1.35 % (6 x 21) = $155.77 per business day.    There are approximately 21 business days per month.   The rate factor used here is 1.35.
  5. If you can handle this payment for 6 months, you can close the transaction.
Can my business afford an mca merchant cash advance?
calculate how much of an mca merchant cash advance your business can afford. Get conservative and aggressive amounts.

Other factors that affect offer and approval amounts:

Depending upon other factors such as time in business, average daily balances and amount of revenues, the funder may offer a much larger business loan or advance.    Your business may be able to handle a larger amount.   The purpose here is to determine what is a conservative and safe amount.

More disposable income with higher deposits

Businesses with higher gross deposits can often afford a higher advance. This is because the same percentage of disposable income equals a higher dollar amount. If your business has fixed total expenses of $7,500 out of $10,000, then it has disposable income of $2,500.
When gross deposits are $100,000 and fixed expenses are $75,000, then disposable income is $25,000.
In the later case, a business will be able to handle a larger merchant cash advance, because their total gross deposits are higher.

Many businesses continue to take out merchant cash advances by renewing them once they are paid off.  If your business is taking out a merchant cash advance for the first time, try a lower amount first to make sure your business has the cash flow needed and can handle it.   If so, you can take out a larger amount on a second advance.

I need an mca merchant cash advance payment I can handle and pay.   I need a cash advance that is not dangerous and safe for my business.  How can I get that?

Refer to the formula above to figure out how much of a payment your business can afford.   Also consider how much that would be per month.  When businesses takes out an mca merchant cash advance with a daily payment, they often do not calculate how much that will be per week and per month.


How to get money to stay in business

“I need money to stay in business”. “I need working capital to keep my business open. ”  What are my options on how to get money to stay in business and keep your business open?

There are several options most businesses have an excellent chance to qualify for.   Join the many funded business owners that could not get funded before.  Contact us below now.

Complete the secure docusign application now.
Or call us at Tel:  1-919-771-4177, or Question? Tell us what do you want to do?

How to get money to stay in business:

  1. Calculate your recent cash flow numbers.  This includes monthly gross and net income.   Look at your assets and your credit.
  2. Find lenders that offer funding programs based on your numbers and your strengths.
  3. Apply for the program that you determine best fits your company’s profile and has the best chance for approval.

Consider all loan options to make sure you are not missing any opportunities for funding.   You may be able to get funding through programs you were not aware are available.

How to get money to stay in business
Get money to stay in business by matching your strengths to company programs.


F.A.Q. – Frequently asked questions and requests:


Where can I get money to stay in business?


Alternative funders are the best places to get funding when your business is struggling.   If your business is having problems, a regular bank will very unlikely approve your business for funding.
If you have proof of income for your business, such as bank statements or business tax returns, you may get funding based on revenues, such as a bank statement loan.


I’ve tried to get funding and have been declined.   Why would this be different?


This approach focuses on how you have gone about looking for funding.    Randomly applying based on presentation and what the representatives have told you are usually not the best funding programs for your business.

Some funders focus on better credit.  If your credit is not good, you may have been declined for credit.    It may have been better to apply with a lender that focuses on tougher credit customers.

Some lenders focus on programs that give more value to businesses that have strong assets or strong cash flow.  If your business does not have either of these then you may have applied for the wrong programs.

Matching business loan programs to your company’s strengths is critical.   Make a mental list of your company’s strengths.   This will give you a blueprint from which to work when you decide on lender.


Should I just apply once I have found the lender that seems to match?


Call the company and discuss your needs with them first if you have time.   Tell them about your business and also what your strengths and weaknesses are.

Ask the company about their programs first to make sure they are not trying to match up their products to your business when they may not be a fit.


What if this does not work and I still cannot get funding?


You can call us and we will help you figure out if you may be missing opportunities.  Another type of funding may be best.   If you truly cannot qualify, then it is time to think about other options.

Final options after business loan decline:

Final options after business loan declines include:

  1. Adding a strong owner and sharing ownership.   This can bring in money and credit.
  2. Change your business model
  3. Scaling back your business
  4. Major expense cutting.
  5. Temporarily closing your business.

These options may allow you to work around the problem and get back up and running in the short term.

It may also be a good time to change your business model.   You do not have to change your entire business model immediately.   You can do this over the course of a few months and transition into a new business line.

Consider if adding a person to the business to bring in some money as a co-signer may work.   This can be someone who becomes another owner.   If they have good credit, the may be able to co-sign for a loan for the business.      These are more ways on how to get money to stay in business.

How to fix missed payments on a mca merchant cash advance or business loan

“I cannot pay my mca merchant cash advance.” I missed payments and am behind on payments on my mca merchant cash advance and business loan.   What can I do?

There are several steps you can take when you are behind on your mca merchant cash advance payments, or your business loan or personal loan is past due.   These steps and others can  or make it much less severe.  One step is to payoff the past due loan by refinancing.   Contact us below for help on how to fix missed payments on a mca merchant cash advance or business loan you have missed payments on, or cannot pay any more on.

Complete the secure docusign application now.
Or call us at Tel:  1-919-771-4177, or Question? Tell us what do you want to do?

How to fix missed payments on a mca merchant cash advance or business loan and what to do when you are behind.

  1. Contact the lender.   Let them know you are having trouble paying the advance or loan.  Be prepared to answer why you cannot pay it and how you will plan to catch up.
  2. Ask the lender to work with you.  Ask for lowered payments or suspended payments.   If they refuse ask them to offer you a plan for payments you can handle.   Determine in advance what you are able to pay.   Tell the lender what you can pay and ask them to set up a payment plan for that.
  3. Follow through on your agreement.
  4. If you will not be able to continue paying the cash advance or business loan, ask the lender for options.
How to fix missed payments on a mca merchant cash advance or business loan
I missed payments and am behind on my mca merchant cash advance and business loan. Here is how to fix it.

What if you cannot pay the cash advance or business loan and cannot catch it up?

If you cannot continue paying the cash advance or business loan, ask the lender what the options are.  For mortgage loans, many lenders have excellent options for assisting past due borrowers.

If it is not a mortgage loan, the best solution is usually to try to work with the lenders.   When that is not possible, other options include:

1.  Pay a settlement on the mca merchant cash advance or business loan.

If you consider this option, negotiate hard with the lender on how this will be reported on your credit.   You want to push for the best possible credit bureau reporting of this event.    If the lender reports the tradeline as “settled for less than full balance”, this may be the best reporting.

2.  Applying with another lender

This is another excellent option if you can qualify.  Payoff the cash advance or business loan with another loan.   This works well if the balance of the loan you are past due on is low.    If your current past due loan has not damaged your credit too much yet, this option may work.

3.  Another option is to ask your current lender to modify the loan.

For example:
Your current loan is $500 per month and was for 48 months.   You have 10 months left.   Ask the lender to modify the mca cash advance or loan for a lower payment and for more months.  In this case, ask them to lower it to $200 to $300 per month for 20 and 25 months.

Tell them this benefits both them and you.   You will have a payment you can make and their loan will also be paid.   Some lenders do not want to modify.   If you can demonstrate to them that you will be able to pay the past due business loan by getting a lower payment, they may agree to it.

Provide documentation to support your request

Prepare a Quarterly or Monthly Profit & Loss statement to show the lender that you cannot pay now, however if they lower it, your budget will allow for their payment.

4.  Take another hard look at all of your current expenses.

Can you easily reduce expenses somewhere else?   Are there services that you are paying for that you really do not need and can cut?   This can include business expenses and personal expenses.

FAQ’s  – Frequently asked questions and comments

What other loan types can I get to payoff the mca merchant cash advance and business loan I am behind on?   There are many options.   The most common types are below.
“My mca cash advance company threatened me with a coj certificate of judgement.”   What can I do?
Talk to the merchant cash advance company as much as it takes to make sure they do not file a coj in court.   This can clean out your accounts.

“I have missed payments and am way behind on my cash advance.  I was told I am in default.”  “Is it too late to do anything?”

It is not too late.   Talk to the lender about every possible solution.  Show you are proactive in trying to reach a solution.   You do not want them to file a certificate of judgement.
Other requests and needs:   “I cannot catch up my cash advance.  I am too far behind”.  I have to stop paying my merchant cash advance.    When these things happen, review any settlement possibilities and also the refinance options above.

Accounts receivables financing

Accounts receivables financing is another way to increase the cash flow you need to pay your current past due merchant cash advance or business loan.    This can give you cash now which may be enough to pay the payments you missed and are behind on.

Consider an asset based loan

This includes a loan against equipment.  Funding is between 24 and 42 months and includes a monthly payment.    Earth moving equipment, Yellow Iron and  “over the road” OTR rigs, semi-trucks are usually accepted.

My daily mca merchant cash advance payment is too high. What can I do?

“My daily mca merchant cash advance payment is too high.”

“I need a lower daily merchant cash advance payment”.  If one of these frequent requests applies to you, review several options here to lower your daily mca merchant cash advance payments safely and quickly.

If you think your payments are too high, review your choices here.  We specialize in lower daily merchant payments.  Your payments can be safely lowered or eliminated without hurting your business.  Get the lowest payment now rather than than paying the same amount.   Most of all,  apply now below:

Complete the secure docusign application now.
Or call us at Tel:  1-919-771-4177, or Question? Tell us what do you want to do?

My daily mca merchant cash advance payment is too high. What can I do?
Is your daily merchant cash advance payment too high for you to survive? Solve your problem now.

Avoid closing your business checking account and being declared in default. These lower daily payment options are safe.   They typically prevent a coj certificate of judgment from being filed against your business when you act immediately.

FAQ, Frequently asked questions, or comments:

How are my payments lowered?
Answer:   The outflow of daily and weekly cash out of your business account is lowered by covering the debit of your existing advances until they are all paid.  Your business is relieved of the merchant cash advance payments you are now making.   Your business then pays a lower amount for a longer period of time.
How much can I get my payments lowered?
You can get the payment lowered 25% to 50% in most cases.   Sometimes the payments can be lowered more, as much as 50% to 75%.


I have more than 1 advance.  Can I get my payment lowered on all of them?
They may be lowered on all of them if you have 2 or 3 advances.


I have several advances.   Can you help me?
Sometimes all of the advances cannot be lowered or eliminated immediately.  You may be approved to lowering either most of them or all of them.  The rest are lowered as you pay.


What are the risks?
There should not be any risks if you are approved for one of these programs and follow through on paying off the other advances.   The biggest risk is not acting in time.    Get rid of your mca merchant cash advance problem before it gets ahold of you.


I am being told by my merchant cash advance company that I signed the contract and I have to make the payments I agreed do.  Am I stuck?
You are not stuck and there is also another option or two.  You can pay them off or pay less.


My daily mca merchant cash advance payment is too high.  Can I get a monthly payment instead?
You may qualify for a monthly payment program for enough to payoff the balances.  Then you can payoff the merchants cash advances with the monthly payment loan.    If your business does not qualify for a monthly payment, it may still benefit just as much with a weekly or daily payment.
The total amount paid can still be lowered just as much.

Get a lower daily payment today and also save your cash flow.  Talk to a counselor today.


Longer term merchant cash advance options

“I need a longer term on my cash advance”.   “I need an advance for 12, 18 or 24 months.”  These are some of the requests people have when they want a longer term merchant cash advance.    They want more time on their cash advance.

Hundreds of businesses have gotten long term funding and a longer term merchant cash advance through programs listed below.    We specialize in longer term loans and longer term merchant cash advances.  Together we will get the longest term for you.  Apply now below:
Complete the secure docusign application now.
Or call us at Tel:  1-919-771-4177, or Question? Tell us what do you want to do?

FAQ’s Frequently asked questions and comments:
“How can I get a longer term merchant cash advance?”
Look at your overall business and based on your profile, try to figure out what are the longer term funding options your business might qualify for.   See the list below.   You may see that your business will not qualify and save to time.

“I need an advance longer than 6 or 9 months.  What can I do?   Make a list of all longer term programs and the main requirements.   Ask what the approval terms are.   Go down the list and eliminate the programs that you clearly do not qualify for.   For the remaining programs, look at the benefits and requirements.  Another option is to also contact the funder directly for assistance.

longer term merchant cash advance
Get longer term merchant advance

Longer term merchant cash advance.   Longer term options than a mca merchant cash advance

Monthly payment options.

Many programs have a monthly payment option.   Monthly payment business loans are harder to get and be approved for.    Credit scores also have to be higher, often 660 or higher.   The minimum time in business will need to be a year or more.  The average daily balance of the business checking account has to be $2,500 to $3,500 or more.

Leaseback real estate

If your business has commercial real estate with equity in it,  one option for much longer financing is to leaseback real estate.   Funding amounts will usually be much higher and the terms are much longer, as long at 5 year or more.    Payments will be monthly instead of daily or weekly.   There can also be major tax benefits to this approach.   Contact your tax professional for details using this method.

Asset based loan

Another option to getting a longer term merchant cash advance or longer term funding is to convert the merchant cash advance into something else.  That involves a payoff.    The new funding can payoff the old funding.  One option is a loan against equipment.   This type of funding is 24 to 48 months with a monthly payment.    Equipment such as construction equipment, semi-trucks and also some types of machinery may qualify.

Accounts receivables financing

Accounts receivables financing does not directly get the merchant longer term financing.  However, it can be an excellent way to improve cash flow and eliminate the need for a merchant cash advance or short term loan in the first place.

If a business can improve their cash flow and not have to take out another short  term advance, they can avoid taking out a business loan.    This type of financing should be seriously looked at when funding options are considered.

“I don’t want accounts receivables financing” or “I don’t want factoring”, some clients tell us.
Many merchants are resistant to merchant cash advance financing.  They are afraid their client accounts will not like it and they will lose that account.
Merchants can tell their clients that their accountant recommended factoring to improve cash flow.  They can call their client and say:
“My accountant told me to look at factoring.   Do you all offer that?”

This question is more of an indirect approach and less threatening to your customer.  If they do not want to factor, they will feel less pressured since it was your accountant’s idea and may just say no.

Chance are very high that your customer is already factoring for other clients like your business and your business is not the first one they are would factor.

Extending merchant cash advance terms

Some final options include calling the merchant cash advance companies and asking for longer terms.   This is less desirable because it means that you will not be fulfilling the contract terms as originally agreed.   Therefore, the merchant cash advance company does not have to agree to longer terms and can consider doing so a default.

In summary:
Longer term merchant cash advances are not easy to get.   The entire risk model on which it works is based on short term financing with the customer.   Their risk analysis shows that past due accounts and charge off’s increase a lot if the term is over 1 year.

Funders that do merchant cash advances do not want a long term relationship with their clients for one funding.   They want renewals and also repeat business but not a long term with each transaction.

This is especially true if the merchant already has one cash advance.   For merchants that already have one cash advance, merchant cash advance companies are reluctant to offer a longer term on any new advance.


Merchant cash advance qualifications and guidelines

“What are merchant cash advance qualifications or guidelines?”.   I need the mca cash advance approval criteria.  These are some of the requests people have when they want to know merchant cash advance qualifications and guidelines.  They want to know:  “Will my business qualify for a business loan.?”

Join scores of businesses that have gotten the right business funding by knowing ahead of time what the merchant cash advance qualification and guidelines are.
We specialize in telling businesses which merchant cash advance qualifications and guidelines their business will qualify for.  We work for the customer to get them the best program.  Apply now below:

Complete the secure docusign application now.
Or call us at Tel:  1-919-771-4177, or Question? Tell us what do you want to do?

Together we will get the best program for you.  Apply now below:

merchant cash advance qualifications and guidelines
Find out what the mca merchant cash advance qualifications and guidelines are.

Merchant cash advance qualifications and guidelines

500 + bureau score.

Many programs have a minimum credit score requirement of 500. Some programs require a credit score of 525.  Other programs either do not have a credit bureau score requirement,  or have a 550 minimum.

51% + Ownership

Many MCA Merchant Cash Advance programs and lenders require at least 51% ownership to close cash advance funding or other loans.  Another requirement under some programs is to have any owner with 25% or more ownership listed on the application and also be a signer at closing.

Minority Ownership

Minority ownership means any owner with less than 50% ownership. This can also mean an owner that has between 1% and 49% ownership in a business or enterprise. Another option some lenders offer is to approve and close financing with owners who are less than 50% owners.  However, this is not the norm and also rare and hard to find.

6 months time in business

Many lenders and funders have a minimum time in business requirement of 6 months. Others lenders that have more than a 6 month requirement have a 12 month, or 1 year time in business requirement.

Less than 6 months time in business

Another main minimum requirement is 3 months time in business by some lenders.  Some lenders and mca merchant cash advance companies do not have a minimum time in business requirement but need at least 2 months proof of business income, or 2 months proof of revenue.    These are considered start up businesses.   Find more information on start up businesses here.

$10,000 or more per month in deposits

A high percentage of funders require the merchant to have a minimum of $10,000 or more per month in deposits.  Some merchant cash advance companies offer funding programs that require only $5,000 or $7,500 per month minimum deposits.  However it is harder to find mca merchant cash advance companies that offer funding with the business depositing less than $10,000 per month.   We can place your business in programs that only require $5,000 to $7,500 + per month in deposits.

5 Overdrafts or NSF’s or less per month

Another frequent requirement is for the business to have no more than 5 Overdraft or NSF occurrence items per month.  In 2017, some MCA Merchant cash advance companies began to offer programs with 7 or 8 Overdrafts or NSF occurrences per month allowed, but this is also not common.

Less than 5 Deposits per month

Most funders require 5 or more deposits per month. A few require less, such as 3 or 4, but the majority still require 5. Merchants call in and complain that they were denied for too few deposits even though they had 5 or more deposits per month. How can that happen? To find out the answer, we need to look at what lenders and mca merchant advance companies consider a “deposit”

What is the definition of deposits per month?

A source of a deposit is from revenue the business has generated from sales and true business operations. The following is a list of deposits that are not considered business deposits:
1) Small dollar amounts such as less than $100.   This dollar figure can be higher, even $200 or $300 and funders may not consider that deposit because the dollar amount is too low.
2) Transfers from savings accounts or other accounts are also not considered deposits.  The reason for this is that the funder does not know if the original source of those transfers are from real business revenue.
3) Credits, rebates and other non revenue deposits. Many times, businesses will receive small credits and rebates from other merchants that are not true revenue and are not considered such by lenders.

No restricted industries

Most mca merchant cash advance companies have industries that they will
not lend to and restrict funding to.    You can ask in advance if your industry is one of those types of businesses they will not fund.    For more information see a list of restricted industries here.

Summary Notes:
Many of the criteria listed above are minimum criteria.   Many lenders and merchant cash advance companies list a minimum criteria but may still decline the merchant even if the company applying meets that criteria.

In their analysis, if your company profile meets merchant cash advance qualifications and guidelines criteria, they will consider the request, but might still not approve it.

If you have questions or need assistance to find out if you will qualify, call us for complimentary assistance.  We have more resources that can be offered in kind to see if you will qualify.

Too many credit inquiries pulled

I had too many credit inquiries pulled.   A broker pulled too many inquiries.
“They pulled too many inquiries and damaged my credit”.   These are some of the problems people have when their credit is pulled too many times.   It sometimes cause problem when applying for a business loan.    Business owners get turned down for a business loan for having too many inquiries.

too many credit inquiries pulled

If you need a program that will not deny you for too many credit inquiries, apply below to request offers even with a lot of inquiries.

Complete the secure docusign application now.
Or call us at Tel:  1-919-771-4177, or Question? Tell us what do you want to do?

FAQ: Frequently asked questions, comments, or complaints:

“I had my credit pulled too many times and can’t get a loan.” A broker sent my file out a bunch of lenders and now I can’t get approved for a business loan.  What can I do?
They told me my file has been shopped and I have too many inquiries.   What kind of business loan can I get now?
“They pulled my credit too many times”

In general, your credit and credit score recovers from inquiries faster than any other type of derogatory or adverse action.    A credit inquiry may drop your score a few points for a relatively short amount of time.

Do inquiries hurt my credit?

A credit inquiry is often part of the process of applying for credit and should not be considered a negative by the applicant.  Lenders also know that applicants will have some inquiries.

How many inquiries are too many?

There is not one single answer to the question of how many inquiries are too many.   This varies on a case by case basis.    Older credit files can have more inquiries before they are impacted.  Another  difference is that some inquiries are necessary and some credit inquires you cannot avoid.

Too many credit inquiries pulled
Options if too many credit inquiries were pulled.

Other helpful actions you can take if your credit has been pulled too many times

1) Count the most recent credit inquiries.    Keep a basic idea in mind of which companies the credit inquires are from.   Make lenders aware of the credit inquiries in advance.    Some lenders will then manually review and consider the inquiries and possibly overturn any denial.
2) If some inquiries are from mortgage companies or for car loans, those may not be count against you.   Tell the lender if you have these.

3) When applying for financing, try to talk to a representative that knows the lender’s criteria and can talk to you about it.   Ask in advance if they will decline for too many inquiries within a certain amount of time.
4) Ask lenders as much about their criteria as you can.   You may be able to find out that you will very likely be declined for a business loan or personal loan.   You can decide not to apply and avoid the inquiry before it is even pulled.