Loan Options For people with bad credit | Ways to Get a Loan with BAD CREDIT

Apply For Loan: https://getfundedprogram.com/alternat... Sign up for Salesforce Business Analyst Training: http://sfbatraining.com/ Bad Credit Score Loan Options in USA Ways to Get a Loan with BAD CREDIT How To Get Approved For A Loan With Bad Credit bad credit loans guaranteed approval lenders In today’s video we are going to talk about Loan options for people with bad credit score  Before we start don’t forget to give us a thumb up and click the bell icon to be notified for future videos.  Every business needs funding. But unfortunately, not all business owners have good credit score. And the credit score is one of the most important things that lenders will consider when approving you for a loan. Banks are reluctant to give loan to someone who has a bad credit history.  But don’t be discouraged because there are a lot of alternative options available. Even with a bad credit score, you can still qualify for some of the best loans. Below are some excellent options for people with bad credit score. 1. Revenue Based Loan:  The Revenue based advanced loan is an option to get cash immediately for your business, in exchange for funds deducted directly from your credit/debit card payments in the future.  To qualify for the revenue-based loan you need to have at least 500 credit score and you need to have a business making at least 4000 in monthly revenue.   Most applicants can qualify for up to 120% of monthly revenue, so if your monthly revenue is $10000, funding is usually around $12000 To apply for the revenue-based loan you are required to provide your last 3 months business bank statement as proof of revenue. I place the link in the description below for people looking to apply for a revenue-based loan.  2. Equipment Financing  Equipment financing refers to a loan used to purchase business-related equipment, such as a restaurant oven, a vehicle or a copier scanner. Equipment loans provide for periodic payments that include interest and principal over a fixed term. Once the loan is paid in full, you own the equipment free of any lien.  Startups are required to have a good credit score when applying for equipment financing.  Only experienced businesses owners with bad credit score can qualify for equipment financing. And you need to have at least 580 credit score. You need to be in business for at least 2 years and you need to have a good revenue.  To apply for Equipment financing you are also required to provide your last 3 months business bank statement as proof of revenue. I place the link in the description below for people looking to apply for Equipment financing. 3. Equity backed loan  Equity backed loan is an option for people with bad credit willing to use the equity on a property that they own as collateral to get a loan. The credit score is not a factor when applying for The Equity backed loan. You can qualify for up to 70% of the equity you own on the property.  I place the link in the description below for people looking to apply for Equity backed loan. 4. Invoice Factoring:  Invoice factoring is another option for people with bad credit score. This option is mainly used by government contractors. Invoice factoring is type of invoice finance where you "sell" some or all of your company's outstanding invoices to a third party as a way of improving your cash flow and revenue stability. A factoring company will pay you most of the invoiced amount immediately, then collect payment directly from your customers.  The credit score is not a factor when applying for invoice factoring.

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