Business finance for bad credit

As a business owner, you constantly need to ensure that your business gets the financial support that it needs to grow and prosper into something big. However, business owners who are recouping from previous losses or simply just have a bad credit rating to start, don't always get the business loan guaranteed approval they need from traditional lenders like banks.

Fortunately, in today's fast-evolving and adapting lending industry, alternative lenders are here to provide the help that small businesses need, that traditional lenders won't.

If you're looking for a short term business finance, business cash advance, quick business finance, emergency business loan or just simply want an easy business loan, it doesn't matter as alternative lenders usually have a wide range of funding options to offer and will help you find the perfect one for your needs. Some of the alternative lenders even offer no credit check business loans and won't ask for a credit score but instead will consider additional business factors such as the length of time in business or business revenues.

Here are the best business loans suitable for businesses with bad credit:

Secured and unsecured business loan

These two are the most common types of business loans for small businesses. The general idea is that you get the funding from the lender and you pay it back with a term set, interests and some also charge fees.

Credit line

A credit line is a type of loan where the borrower can access funding on a continuous basis with a preset amount by the lender. Similar to a credit card, only the interest for the amount used is charged to the borrower.

Merchant cash advance

If your small business is in need of quick business finance, a merchant cash advance is a great option as it is usually easier to obtain. It offers the loan lump-sum in exchange for a portion of expected credit and debit card earnings.