Bad Credit Business Loans

The struggle to find financing is real for many small businesses with bad credit. Traditional lenders may not issue bad credit business loans at all, or may do so at extremely high interest rates. P2P lending offers small businesses an alternative: quick, accessible loans based on your business health, not your credit score

A quick, easy, and effective solution to manage cashflow issues. Get loans against unpaid invoices, starting from $500. Quick and easy approval process, fully automated.

Quick Approval
Praised by Media
Target Audience: US Merchants with Unpaid Invoices

Overall Rating

Effective

The world's most famous Peer to Peer lending for businesses is that for a reason. The quality of service, ease of use, promptness, and of course the low interest make it a superb choice.

Quick Approval
Most Reputable
Target Audience: Small US Businesses

Overall Rating

Superb!

Lorem Ipsum is simply dummy text of the printing and typesetting industry.

Approval within an hour
Average Rating 9.5 in TrustPilot
All US Businesses, Loans from £1000

Overall Rating

Top Lender

Lorem Ipsum is simply dummy text of the printing and typesetting industry.

Approval within an hour
Average Rating 9.5 in TrustPilot
All US Businesses, Loans from £1000

Overall Rating

Top Lender

A much needed invoice factoring service for small US-based businesses, starting from micro-loans of $5,000 up to $50,000 lent against unpaid invoices. High APR - For Immediate Cashflow.

Quick Approval
Positive Media Coverage
Target Audience: US Merchants with Unpaid Invoices

Overall Rating

Quick

OnDeck is a solid, publicly traded, company, with great user feedback. Approval in 1-10 hours. Proven business model which works and thrives. Now also in <a href="http://smallbusinessloansaustralia.com/ondeck-review-borrowers/">Australia.</a>

Same Day Approval
Average User Rating 9.6 in TrustPilot, Media Critics
Requirements: FICO Score 500+ Only

Overall Rating

Solid Choice

Non Profit Organization for Californian Businesses Specializing in Micro-Lending.

Operating For 20 Years
No Profit Organization
Audience: Businesses in California

Overall Rating

Useful

What Risks Are There to Bad Credit Borrowers Using P2P?


Because bad credit history often indicates inconsistent credit repayment, these companies are likely to issue loans to businesses at very high interest. The extra money is used to offset the loss incurred if a borrower defaulted. The higher the risk, the higher the interest. Still, because P2P high risk business loans may be the only available to bad credit businesses, and it can be paid off early before interest payments mount, it may be the only option.

What About Payday and Short-Term Personal Loans as an Alternative?


So-called Payday Loans are an often usurious lending form, meant to provide quick cash in a pinch, usually paid back in a matter of days of weeks. The practice is heavily regulated in some jurisdictions, not in others. Typically, borrowers will incur stratospheric interest rates which, depending on how you calculate interest on a loan with a few days’ term, have been recorded from 30% to 3000%+. With lots of bad press highlighting the folly of payday loans, businesses are much better served with business loans from reputable institutions, many of which in the P2P arena are more convenient than Payday lenders, without the risk.

Why Not Get a Bad Credit Business Loan From a Bank?


Because banks tend to look at your credit score first, many are immediately denied when requesting a traditional business loan. P2P lenders use a diverse array of data to determine your creditworthiness, including your online merchant history and other facets of your overall business health.

How Can You Improve Your Credit Score for Better Loan Terms?


There are many factors that determine your credit score. It is important to always pay debts and bills on time, to carry no more than a 30% balance out of your available credit, and to have as long a credit history as possible with old accounts from established institutions. There are other factors, but if these are observed alone, it’ll make a big difference in your credit score.