Owners of small and medium-sized businesses often face one common challenge. They need capital to grow and strengthen their businesses, but bad credit may be holding them back. Forget trying to get a loan or line of credit from a “traditional” financial institution. Banks are just not lending to small businesses; and if you have bad credit or in a high risk industry, you can guarantee a rejection for bank financing.
Bad credit and high risk business loans are offered to high risk business owners, or to those folks who have bad credit which make them ineligible for any type of bank financing. There are only a few small business funders who offer bad credit and high risk business loans, and LVRG leads the way.
There are many different names that are associated with bad credit small business loans and high risk business loans, such as: High Risk Merchant Cash Advance, Same Day High Risk Small Business Financing, High Risk Merchant Cash Advance Loans, High Risk Business Cash Advance, Unsecured High Risk Business Loans, High Risk Merchant Money Advancement, High Risk Merchant Cash Financing, No Interest High Risk Merchant Loans, Unsecured High Risk Business Loans, High Risk Business Cash Advances, High Risk Merchant Cash Advance Loans, and High Risk Merchant Cash Advances.
Businesses need capital to grow, plain and simple. Today’s business owner is constantly on the lookout for growth opportunities and must move quickly to take advantage of them. An opportunity for an acquisition or expansion can arise suddenly and needs an immediate response and immediate cash. There’s also the need to purchase equipment or inventory. And of course, there will always be emergencies and cash flow gaps that need to be quickly managed with working capital.Our bad credit business loans and high risk business loans were developed with small businesses in mind and provide a number of clear benefits:
- Shorter terms, usually 4-12 months
- Simple repayment terms
- Quick turnaround, as in approval, underwriting and funding
- Fast access to funds, with money in your account in as little as 24 hours
- Quick and easy application process; little paperwork required
We don't care about your credit, or your industry for that matter. In fact, we look at so much more beyond your credit history:
- Is your business growing?
- Are there growth opportunities ahead that financing will help you leverage?
- Are you paying vendors?
- How is your cash flow history?
We've found that poor credit history is not a good predictor of future business growth or success. Instead, it’s knowing when to seek business financing and having a plan for how you’ll use the capital to generate more revenue or accelerate it. Bad credit and high risk business loans more than pay for themselves when you factor in the additional revenue they help generate and business costs they can save.
Business owners with bad credit are using these business loans just like everyone else, to take their businesses to the next level:
- Expand or remodel
- Even out cash flow, during non-peak or pre-rush seasons
- Purchase inventory
- Purchase equipment, from machinery to vehicles to furniture to technology
- Launch new marketing or advertising campaigns
- Expand their staffs and training
- Acquire another business
- Introduce new products
There are many reasons why traditional lenders choose to classify a business as a high risk when it comes to borrowing money. Some typical high risk businesses are restaurants, construction companies, many seasonal and cyclical businesses. Even most new or young companies are considered high risk simply because they do not have a track record or proven sustainability. LVRG Funding has experience lending to high risk business owners, we understand that many of these companies are proven earners and deserve a small business loan regardless of their industry, credit history or time in business.
LVRG is able to provide bad credit small business loans and high risk business loans that most lenders won’t even consider. Some of the high risk industries that we are able to provide fast working capital financing to, are as follows:
Home Businesses • Sole Proprietorship's • California Businesses • Construction • Bail Bonds • Antiques (No Special Orders)• Rental Or Sales Agencies • Collectibles/Memorabilia • Computer Hardware Sales, Service & Repair • Educational Materials / Seminars/ Self Help • Escort Service & Adult Entertainment • Internet Business Lead Lists (All Types) • MLM – Multi Level Marketing (Product Sales Only) • Modeling Agencies & Talent Agencies • Moving Companies • Online Malls • Online / Mail Order • Event Ticket Sales • Private Investigators • Public Relations Services • Real Estate Related Industries • Security Equipment & Surveillance Equipment / Service Providers • Travel Agencies • Web Advertising • Vapor & Hemp
Bad credit and high risk business loans can provide high risk small business owners with an upfront fixed amount of cash of up to $1,000,000 in as little as 24 hours. The funding amount is based upon a percentage of the businesses credit card receivables or daily cash balances using historical credit card receipts and bank statements to determine the initial advance, or loan. The remittances are drawn from the business customer on a daily or weekly basis until the obligation has been met.
When seeking a high-risk small business loan, you must have realistic expectations and expect to pay a higher interest rate. A lender will want to minimize their risks by charging greater interest, or perhaps ensuring a short-term agreement. Small business finance has changed and it's near impossible to obtain bank financing these days. It's near impossible to obtain a bank loan with many years in business, a plain vanilla industry, perfect credit and positive cash flow ratios; let alone a business owner with poor credit or in a high risk industry. Fact is, non-traditional or alternative lenders have taken precedence in the small business loan space.
Whether you have cash flow issues, history of liens, judgments, or even a bankruptcy... you can still get up to $1 Million to grow your business in as little as 24 hours. Short term small business loans, bad credit small business loans and high risk business loans from LVRG have helped thousands of businesses just like yours not only turn the corner, but pull ahead in the race. Bad credit or not, we’re here to help your business grow! Call (855) 998-5874 or click below to get started.