Poor Business Credit? That Shouldn't Stop You from Being Funded!
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Poor Business Credit? That Shouldn’t Stop You from Being Funded!

We all run into credit issues overtime. This can be troublesome since our credit score is usually the deciding factor on if we are able to purchase a house, buy a new car, or when it comes to business, be approved for some form of business funding. While you work on improving your business credit score, for the time being, having a less than perfect credit should not make access to the working capital your business needs and harder than it has to be. Big banks might give you a decline, but alternative financing institutions, such as Excel Capital Management, have plenty of working capital funding solutions to offer you. Typically, all you need to do in order to qualify and be presented with an offer is complete a simple, one-page application and provide four months of recent bank and credit card processing statements. That’s all! Take a look at all the funding options available to your business – despite your business credit score:

Merchant Cash Advance: Short-term financing transactions that are collected through a set percentage of your Visa and MasterCard sales that are accepted at your place of business. Probably the most common term used in the industry. These do not have a set repayment schedule and are based on the volume of your businesses credit card processing sales. These are usually only guaranteed by the future sales of your business.

Invoice Factoring: Invoice Factoring is used to finance businesses with short-term cash flow issues – especially when your business doesn’t qualify for a traditional bank loan or any other alternative solution. Your lender will factor your business’ customers’ invoices to match your working capital needs.

Equipment Financing: Equipment Financing is a loan product used to help business owners purchase any type of equipment needed to run the business. The loan amount is dependent upon the type of equipment needed, as the repayment term is usually as long as the expected life of the piece of equipment and if it is used or new.
ACH Loan: These loans may need personal guarantees, and have a fixed repayment schedule that is paid either daily, weekly or monthly. These products are catered to industries that do not accept credit cards and need a fixed payment.

Term Loans: A loan that is backed by a bank for an exact amount that has a specified repayment timetable and interest rate that are adjusted accordingly. Terms mature between 1 and 10 years.

Business Lines of Credit: A rotating loan that gives business owners access to a fixed amount of money, which they can use day-to-day according to their need for cash. Interest is only paid on the amount of the advance actually used.

Now that you’ve gone over the funding solutions that are available to you, what are some of the added benefits? No personal collateral is needed, minimal paperwork is required, repayment terms are flexible, each funding solution will help build your business’ credit profile, and funding can occur in as little as two business days! APPLY NOW to learn more and find out what working capital funding solution your business qualifies for TODAY!  

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