If you are a small business owner or entrepreneur in the Nassau County area and you need cash flow to stabilize your company operations or to fuel growth, the chances are good that you have checked out your options for a business loan. There is no doubt that accessing extra funds are helpful for nourishing and sustaining your business cash flow requirements. If you need to ramp up your business operations, Delancey Street specializes in providing Nassau County Bad Credit Business Loans.
Don’t Let A Credit Score Hold You Back
At Delancey Street, borrowers get evaluated differently than traditional lenders and banks. Instead of using a credit score, which can sometimes contain errors and inaccurate reporting, company financials get used to determine whether the borrower qualifies for a small business loan, a line of credit, or a merchant cash advance. As long as your company shows a history of sales and credit card transactions, there is a high chance that you can get approved for Nassau County Bad Credit Business Loans. Loans are available for as much as 2 million dollars for qualified borrowers.
How The Process Differs From Traditional Lenders
Streamlined application process
Fast access to funds – usually within two business days
Flexible repayment plans
Companies of all sizes and types considered
Low credit scores OK
Use funds however they are needed
Applying for a business loan can be an intimidating experience, especially for entrepreneurs and small business owners who might have less than perfect credit. To make this process amiable to clients who could have trouble getting traditional small business loans, applying for a loan is simple. Not having excellent credit doesn’t preclude you from qualifying for a business loan.
Use The Money However Needed
No one knows your business better than the company owner. When you work with a company like Delancey Street, business owners have complete control over how the funds get used. This financial service is ideal for adding inventory, launching new products, paying for outstanding invoices, hiring new employees, or boosting your marketing budget. Whatever you decide is the most diligent use of your capital.
Before starting the application process with a traditional business lender, it is a wise idea to find out where your credit score currently stands. Most prime lenders prefer that their customers have an average to a higher score to qualify for prime business loans. People with a lower credit score may have troubles getting approved or qualifying for the best credit terms and rates.
If you have bad credit, and you don’t have an immediate need for a loan, you can take steps to straighten up your situation and increase your credit score over time. Avoid making late payments. Not only do they result in a negative account on your credit report, but they are also expensive when the creditor adds financial penalties such as late fees or increased interest rates. If you notice conflicting accounts or incorrect entries, contact the credit reporting agency and ask them to verify the data. If they are unable to certify the debt, the item gets removed. Your credit score should improve as erroneous information gets deleted.
Business Loans Don’t Have To Be Difficult
Unfortunately, many small business owners don’t have the luxury of waiting for their credit file to improve when they need to fund their company. Delancey Street understands there is more to your company than your credit score. Instead of judging the creditworthiness of the business owner, financial statements from the company get used to determine if they qualify for Portland Bad Credit Small Business Loans. Loans are available for businesses including, but not limited to, coffee shops, hospitality businesses, restaurants, retailers, warehouse and shipping companies, general contractors, automotive and home repair, and more. All companies with verified company financials as well as regular credit card sales get taken seriously.