Can I Get a Small Business Loan with Bad Credit?

Your business is starting to flourish; sales boosted and your conversion rates are higher than ever. But to sustain this growth, you’re going to need more liquidity. Cash flow problems are common in small to medium sized businesses due to the significant upfront costs required. These issues are especially prevalent in an industry where customers do not pay upfront or a lot of inventory is required.

By applying for a small business loan, you’re able to maintain an optimal level of cash flow without sacrificing your sales volume and revenue.

What Are the Causes of Cash Flow Problems?

A small or medium sized business is more vulnerable to economic changes, considering their pockets are less lined compared to multinational corporations.

Common causes of cash flow issues include:

  • Minimal margins
  • Lack of demand
  • Excessive customer discounts
  • Unable to collect accounts receivable

A small business loan is effective in relieving temporary cash flow problems, but it’s still important to identify the root cause in order to develop a long-term solution.

What are the Benefits of a Small Business Loan?

Starting your own business is the ultimate liberation; you no longer need to work specific hours and you have the freedom to enact the changes you want. That said, it’s important to be financially responsible in order to maintain a successful business.

A small business loan gives you the financial liquidity you need to your grow business during a time when your cash flow is limited. Maybe your business is looking to fund a new R&D project or needs to invest in new equipment. Whatever the case, a small business loan can be a defining step towards to a prosperous business future.

Can I Still Get a Business Loan With Bad Credit?

A small business loan obtained from a private lending institution is a straightforward process. With a lending institution like Greenbox Capital there is more focus on business performance and future potential rather than

your credit score. This way, you don’t have to worry about your credit score, as we don’t see it as an accurate reflection of your business future.

Because we aren’t a bank, the approval process is also much quicker—we even provide business loans within 24 hours. We care about the future of your business and are, therefore, focused on your accomplishments and the plans you have for the future.  This doesn’t mean we require an in-depth business plan or sophisticated productions. We merely want to gain an understanding of what your business is all about.

We base our financing off the performance and stability of your business. Our loans for business owners with poor credit are customized to fit the unique requirements of your company with little paperwork and no restrictions on how you plan to use the funds.

Complete an application or contact the Merchant Account Service team to get started on your small business loan today.

Greenbox Capital is the leading provider of financial solutions for small to medium-sized businesses. If you don’t qualify for a small business loan, be sure to inquire about our collateral or assets-backed financing. We offer a variety of lending options and will work with you to find a customized solution to your business needs. Call 1-855-442-3423 to get your financial journey started.