Your personal credit score is often one of the factors used to qualify for a business loan. If you fall into the lower range (anywhere from 300 up to 629), you could have a harder time getting a business loan application approved. But you aren’t completely out of options! We’re dedicated to finding funding solutions, even when the banks say no.
Is a bad credit loan right for your business?
If your score is 500 or above, you could be eligible for funding options that put more value on the health of your business than on your credit score. Expect shorter terms and higher rates on a first-time loan if your score is in that range. Alternatively, a merchant cash advance can be a good option since the funding is based on future credit card sales.
Finding the right bad credit business loan
By partnering with SnapCap, you are paving the way to faster funding while also strengthening potential for larger loans and longer terms in the future. Apply today to work with an experienced loan officer that will find the best financing solutions that align with your current credit score.
Qualifying for a business loan
One year in business
Typically owners have been in business five years, though all we require is one.
An annual revenue of $100k
Typical gross revenue exceeds $300,000, although we just require $100,000.
A personal credit score of 500
Most applicants have credit score over 650. The minimum required is 500.
Imagine the possibilities with SnapCap
Streamlined and paperless, our quick online processing saves time so you can stay focused on your business.
Same-Day Approval, Next-Day Funding
The best financial technology in alternative lending. Funds deposited in as little as 24 hours following approval.
A Relationship You Can Trust
SnapCap has worked with thousands of businesses since 2012. We build relationships that last.
Expert Funding Advisors
From initial form to future funding needs, your dedicated loan officer is here to help you and your business.
A Better Way To Borrow
Funding decisions are based on actual business performance. We focus on the borrower, not the bank.
Tailored terms to meet your needs. SnapCap is only interested in positioning your business for success.
Get pre-qualified for up to $1M
Searching for financing is free and won’t affect your credit score