Overview
Traditional banks approve only a minority of business loan applications, creating challenges for entrepreneurs with bad credit. Research shows that poor funding (or lack of it) is the main stumbling block for many startups' growth.
Alternative Funding Options
• Credit Card Sales (Merchant Cash Advance). Businesses receive cash advances in exchange for a percentage of future credit-card sales, with effective annualised rates typically in the 25 to 50% range.
• Credit Partnership. Partner with someone with good credit to access business credit lines, though this carries risk for the partner.
• Bank Deposits. Access revenue-based loans equal to a proportion of annual gross deposits with faster approval and no collateral requirement; repayment terms up to 18 months available.
Key Takeaway
Entrepreneurs shouldn't limit themselves to traditional lenders. Alternative financing methods offer faster approval processes and reduce reliance on credit scores for business growth opportunities.
Want to talk specifics?
Twenty-minute brief, no obligation.
A real broker on the other end of the line. No fees to clients.
