A bad credit business loan can be crucial to your business. It will help you to purchase the equipment needed to expand. Equipment, as you may know, is one of the largest costs businesses need to focus on. It can change the way your business operates, improve efficiency, or increase the types of customers you can serve. Bank loans for equipment purchase can be costly and hard to repay. Even worse, many lenders limit the availability of these loans to those who have good credit.
If you are stuck and wondering how to buy your next piece of equipment, turn to the bad credit business loan options from Advance Funds Network that can give you the options you need.
The bad credit business loan options offer numerous benefits compared to the traditional bank offerings. These are examples that may apply in your situation.
• The bank loan is not available to those who have bad credit. If you have a personal credit score that is not as high as it should be, you are likely to get turned down from a bank lender. That is not the case with the bad credit business loans and merchant cash advances from Advance Funds Network.
• If you need funds to repair old equipment, getting a bank loan is rarely an option. This is especially true if you do not have any other type of collateral for the purchase.
• Unlike most banks, with Advance Funds Network, you do not need to show a business plan or high financial projections to prove that your business is successful enough to handle the cash advance.
Another important area to consider is repayment. If you obtain a traditional loan, you will be making fixed payments each month to repay the bank loans. This is expensive and it can be limiting, especially in times when you just do not have the sales to make the funds necessary to repay the debt. With Advance Funds Network, you can make higher payments when your sales are higher and lower payments if your sales drop. This makes it easy for you to accommodate your particular business flow.
In order to obtain this loan, you will need to have enough projected sales. This is usually $5,000 worth of Visa or MasterCard transactions each month or $10,000 gross sales. If that is the case, you can often receive approval within 24 hours and the money you need in about 7 days.
Bad credit business loan options from traditional banks are limited if not nonexistent but that does not mean you are limited. If you need equipment or your equipment needs repair, the equipment financing options available to you from Advance Funds Network may be all you need to pull ahead.
What could that new equipment do for your business? How can it enhance the way you are filling your customers’ needs right now? If you remain focused on serving your customers, and want a bit more working capital to make it happen, turn to this company for your business cash advance needs for equipment purchase.