As a small business owner, you should always be focused on capital. If you are looking to expand your business, buy new equipment or even take advantage of new marketing opportunities, you need funds to do so. There are various options when it comes to funding. Even Chattanooga bad credit small business loans are available. At Delancey Street, we provide business loans and merchant cash advances to businesses of all types.
Fast, Easy Small Business Loans in Chattanooga
We specialize in providing fast business loans in Chattanooga. It ensures that you get the money that you need quickly. We can offer funding in as little as two business days. We also offer repayment plans that are flexible based on your cash flow structure.
You have the ability to use the funds how you want. If you have bad credit, it is okay. Even when traditional banks turn you down, we can often provide you with the funds that are needed to take your business to the next level. You can apply today to get started.
Improving Your Credit Score
Before you search for Chattanooga bad credit small business loans, you need to know what your credit score is. This includes looking at your personal credit score as well as your business credit score. Both may play a role when obtaining a loan, especially if you are working directly with the bank.
The first thing you need to do is request a credit score report from the credit bureaus. Read through the report to make sure that there are no errors. You can work to fix the errors so that your credit score is being reported properly.
If your credit score is lower than you would like, there are a number of ways to improve it. However, it can take six months or longer in order to see a big difference. You will want to clear out delinquent debts, pay your bills on time, and ensure that your accounts are not maxed out.
Exploring Loan Terms
You don’t want to enter into any loan agreement without thinking everything through. First, be sure that you know what the total cost of the loan is going to be. This means reviewing the loan terms. You need to know what all of the fees are going to be as well as your interest rate.
If you need the repayment plan restructured, be sure to identify it before you sign the legally binding agreement with the lender.
Completing Your Application
Your application can be completed online. Plus, we can help you with the details. If you were to complete a loan application with a bank, you would need to provide a significant amount of documentation. An application package will often include financial statements, your business plan, as well as cash flow statements.
We look to simplify the process for you so that you can get approved faster. You can then look forward to getting the money in order to buy whatever is necessary for your business in Chattanooga.
Making a Business Decison
Any time that you need money, you need to make a business decision. Is a small business loan right for you? Are you capable of making the payments? These are questions you need to ask before applying for any kind of loan.
Bad credit small business loans may be more expensive than traditional loans. However, they can provide you with the funds that you need. At Delancey Street, we are here to help you every step of the way. This includes deciding whether a business loan is what’s best for your current financial situation.