Obtain Financing With Bad Credit

There are a lot of funding options outside of conventional banks.

Alternative financing is one of the most popular options available today.

You can even get business credit regardless of your personal situation.

Most alternative sources will lend you money based on your business strengths, so if you have a strength, you can be approved.

There are 3-5 C’s of lending.

3 of the 5 strengths you’ll?need to get approved include:

-Cash flow.?

-Collateral.

-Good Credit (personal or business)

Cash flow financing: Cash flow financing is one of the most popular types of business financing today. Most ads relating to getting business financing with bad credit, and no startups, are a form of cash flow financing.

-The two most common types of cash flow financing are:

Merchant Advances and Business Revenue Financing.

Cash flow financing qualifications are as follows:

To get approved for cash flow financing you’ll need to be able to show 6 months of business bank statements and merchant statements.

Those bank statements must reflect that your business makes over $120,000 in annual revenue or about?$10,000 monthly. You can also get a merchant advance with $5,000 in credit card revenue monthly.

Personal credit isn’t a big factor in qualification, if you’re not currently in trouble now, such as being in bankruptcy or having recent judgments or liens.

-You can get money super FAST, in as little as 72 hours

-Approval is easy, just a quick bank statement review.

Credit-based financing is as follows:

Unsecured-based credit cards.

The approval amounts are from $10,000 to $150,000.

It reports to your Business Credit.

One will need excellent personal credit with open revolving credit, low inquires, and utilization under 30%.

The approval amounts are similar to current limits.

-0-25% APR, 0% for 6-18 ,months, 9-12% fee.

-Credit Partners are okay with this process.

There are many alternative and creative way to obtain the financing needed to grow your business.