Getting small business funding is hard under the best circumstances, and it’s even tougher when you have a low personal or business credit score. Whether your credit is low because of your personal financial history or your business hasn’t had a chance to accrue a strong business credit history, bad credit can overshadow even the strongest business finances, especially if you are applying for funding from a traditional lender.
Low Credit Business Funding
A low personal credit score shouldn’t disqualify you from getting the funding your small business needs to succeed and continue to grow. Businesses with low or bad credit can access up to $500,000 in working capital from Greenbox Capital® in as little as 24 hours.
Quick Business Loans for Low Credit Scores
Will You Qualify?
As an alternative lender, Greenbox Capital’s application requirements differ from those of a traditional lender. We look at the overall health and potential of your business, so approval is easier to attain even if you have a low personal or business credit score. Here are some factors we consider:
Low Credit Funding Solutions
With our streamlined application process, you can get the working capital you need in as little as one business day. We offer a number of different small business loans for low credit scores, with funding ranging from $3,000 up to $500,000.
Merchant Cash Advance
You’ll receive working capital now, and we’ll receive a percentage of your daily or weekly credit card sales until the terms of the advance have been met. Ideal for businesses with a high volume of credit card sales.
Small Business Loan
Our business capital loans are typically between $20,000 and $60,000, but start as low as $3,000 and reach as high as $500,000 depending on the needs of your business. Ideal for businesses seeking short-term financing to grow.
Collateral Loan
A secured loan that uses commercial real estate to reduce the cost of the loan. Ideal for businesses looking for longer-term funding options.
Business Line of Credit
Borrow as much or as little as you need, draw and repay as you go, and pay interest only on the portion of money you borrow. Ideal for businesses looking for flexible funding.
Invoice Factoring
Sell us your outstanding invoices at a discounted price in exchange for the net amount in cash. We’ll send you the remainder of the invoices’ value when your customer makes payment (minus our fee). Ideal for businesses with long accounts receivable periods.
The best candidates for small business funding with low credit are prepared with a firm understanding of how much funding they need, what they plan to do with it, and how they plan to repay it. Our friendly, expert Funding Advisors will work closely with you to determine which funding option will help you achieve your goals without compromising your cash flow.
How To Use Small Business Loans for Low Credit
We believe small business owners understand best what they need to do to grow their business, so we don’t restrict how you use your funds. Your working capital can be used to meet the challenges your business faces or to grow and expand, such as:
In addition to these applications, a successful round of funding can positively impact your credit score, making it easier to obtain funding next time your business needs an infusion of working capital.
How Small Business Loans for Low Credit Scores Work
Submit your 1-page application
After you submit your application, a Funding Advisor will reach out to you within 1 hour (during regular business hours) to discuss your options.
Choose your funding
Your Funding Advisor will work closely with you to determine which small business funding option will help you achieve your goals without compromising cash flow.
Get funded
Once you and your Funding Advisor determine what funding option will work best for your automotive dealer, your funding can be approved and deposited within 24 hours.
Repay your funding
Repayment terms will depend on what kind of small business working capital loan you use. Terms are set in advance so you know what to expect and can plan accordingly.
Why Get Funded by Greenbox Capital?
Applying for small business funding from a bank can take months and requires up to a year’s worth of detailed financial records. There’s no guarantee of approval, and most applicants with low credit scores will be denied. Because we are an alternative lender, Greenbox Capital can approve more business loans for low credit scores, often in as little as one business day.
Your business’s success is what matters to us most. We provide responsible funding and will never over-leverage your business by giving you more funding than you can handle. Our Funding Advisors will be standing by throughout the process to answer your questions and provide any support you might need along the way.
