If you are an aspiring entrepreneur with bad credit, traditional business loans may not be available to you. This is unfortunate. However, it is not the final nail in the coffin of your dreams of owning a business. Thankfully, there are private business lenders that could provide you the private loans you need to start your own business, whether that is a shipping business or a pet store. Find out the best places to find private loans for business ventures below.
Headway Capital is one of the private lenders that grants business owners access to a flexible line of credit. You can fill out their application for private loans for business by selecting the amount you wish to borrow as well as the repayment term. You can also select how often you would like to be responsible for making loan payments. Your options are weekly and monthly payment terms. This is a huge benefit for business owners who struggle with cash flow management. Consider Headway Capital if you want to name your own repayment terms and duration.
Shield Funding does not have the most impressive website like more impressive venture capital firms. Do not let that deter you from considering their business financing services, though. Entrepreneurs looking for private business loans can apply right online by filling out a short request form. Or, if you prefer, you can call them directly using their 888-hotline. This private business lender offers rates as low as 10% with an easy application process and high approval rating. So you do not have to worry about your poor credit rating. Consider Shield Funding for your business loans if you have bad credit.
The Business Backer
The Business Backer is a private funder that offers customized advice and business financing solutions. With their services, you gain access to potential business funding from multiple sources. You may be able to qualify for their financing. But if you do not, you may be able to find private business funding through their True Relationship Network partners. You can also gain access to your funds in as little as 48 hours. If you want a fast financing solution with multiple options for private loans solutions, consider The Business Backer.
LendingClub is one of the leading names in providing private loans for business. Their services provide you access to up to $300,000 in credit. You can apply for business loans or business lines of credit, depending on what your particular needs are. You can get a quote in as little as a minute without impacting your credit score thanks to their convenient website features. Consider using LendingClub if you want to get business funding from a BBB accredited business with an A+ rating who has also been endorsed by the U.S. Women’s Chamber of Commerce. This is certainly something you should work into your financial business plan.
Active Business Loans
Active Business Loans is not a well-known private lender. However, they offer entrepreneurs with bad credit up to to $20,000 in business funding. This is the perfect solution for those looking for a little extra help financing their business but are not able to use traditional lending solutions, like banks. If you do not mind using a private business lender that does not offer the name recognition of some of the above business financing solutions, consider Active Business Loans.
If you are looking for private loans to fund your business venture, there are many options available to you. However, it can be hard to narrow the field down to the absolute best private business lenders. Consider the business funding solutions mentioned above. These private lenders are sure to help you find the money you need to start your business off on the right foot. Good luck!
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