How to Get a Business Loan with Bad Personal Credit

Marksmen Capital Ai

Sep 20, 2024

3 min read

0

3

0

Have you ever asked the question, "how do I get a business loan with bad personal credit?"

Well, you're not alone.

Welcome to the challenging yet navigable landscape of securing business financing with less-than-stellar personal credit. For many entrepreneurs, personal credit scores can be a significant barrier when seeking funds to propel their business forward. However, the good news is that not all paths to business financing are barred by poor credit. In this blog, we'll explore how you can still obtain the capital you need through innovative solutions like those offered by Marksmen Capital, a leader in making business financing accessible and straightforward.

Understanding the Dilemma of Bad Personal Credit

Your personal credit score often plays a pivotal role when traditional lenders evaluate your ability to repay a business loan. A low score might suggest higher risk, leading to loan denials or unfavorable terms. But what if your business credit is solid, or you have a robust business plan that promises growth? Here's where specialized financing options come into play.

Introducing Marksmen Capital: Your Business Financing Ally

Marksmen Capital positions itself as a beacon of hope for businesses needing financial solutions outside the conventional banking system. Here's why they stand out:

- Speed and Ease: Marksmen Capital is celebrated for its efficiency, offering the fastest and easiest way for businesses to secure funds online.

- Diverse Financing Options: They provide solutions tailored to different business scenarios, understanding that one size doesn't fit all in the world of finance.

Business Financing Options at Marksmen Capital

1. Business Term Loan

This loan provides funds with terms ranging from 1 to 2 years, offering flexibility in payment schedules (weekly or monthly) and no prepayment penalties.

- Key Features:

- Max Funding: Up to $10 million.

- Terms: 1-2 years.

- Refinance Option: Up to 2 loans.

- Pros:

- Predictable payments.

- Option for early payoff without penalty.

- Cons:

- Requires at least 2 years in business and a 600+ FICO score.

- Price Range: Terms vary, but structured to be competitive with interest rates tailored to your business's profile.

- Recommended Use: Ideal for businesses needing significant capital for expansion, buying equipment, or managing cash flow.

2. Business Advance Program

This program bases the loan amount on your business's cash flow, offering up to $10 million with flexible repayment terms.

- Key Features:

- Terms: 6-24 months.

- Funding: Same day.

- Repayment: Daily, weekly, or monthly.

- Pros:

- No minimum FICO score requirement.

- Early payoff discounts.

- Cons:

- Requires strong cash flow documentation.

- Price Range: Typically involves a factor rate rather than traditional interest, making it easier to understand total repayment costs upfront.

- Recommended Use: Perfect for businesses with irregular cash flows or those needing quick capital for immediate operational needs.

Why Choose Marksmen Capital?

- Wide Network of Lenders: With connections to over 75 lenders and private investors, they ensure you get the best rate and terms available.

- Guaranteed Funding: Their commitment to finding you a funding solution is unparalleled.

Next Steps

If you're ready to explore how Marksmen Capital can help you secure the funds your business needs, despite your personal credit challenges, reach out:

- Phone: 702-714-3393

- Email: Mark@MarksmenLending.com

Marksmen Capital isn't just about providing loans; they're about empowering businesses to overcome financial hurdles and thrive. Whether it's through their Business Term Loan or the Business Advance Program, they tailor solutions to fit your business's unique needs, making sure that your personal credit score doesn't dictate your business's future.

Let's get started on securing your business's financial health today with Marksmen Capital.

#businessloans #loans #business #businessfunding #smallbusiness #businessloan #funding #money #workingcapital #businesscredit #smallbusinessloans #entrepreneur #businessowner #tradelines #businessfinance #merchantcashadvance #invoicefactoring #businesstermloan #businessadvance #cashadvance #cashflow #equipmentfinancing #businessfinancing #businessowner #badcredit