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Bad and Poor Credit Business Financing and Loans, No Credit Checks, Working Capital Financing Up To $50,000

By: J.M Luna

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Bad and poor credit business financing programs for small business loans are accessible with easy qualify and working capital financing up to $50,000. This enables established small businesses a huge possibility to take a business loan and/or financing for their business without a personal credit check. This bad and/or poor credit business loan program with a no credit check isn’t a merchant cash advance or merchant loan. Additionally, it isn’t related to the payday loan program.

This bad and/or poor credit no credit check small business loan and financing program is constructed in the following manner. The poor and/or bad credit small business applicant should follow the below guidelines:

1) Maintain at least a $4,000 ending bank balance business account
2) Deposit at least 10-15 times per month in their business account
3) Be in business at one year and establish the ability to repay back the loan
4) Have no outstanding large tax liens, delinquent child support issues, not currently in bankruptcy or foreclosure

Documentation Requirements

1) Signed and dated application
2) Provide a copy of the detailed business bank statements for the last four months
3) Copy of the Owners Drivers Licenses
4) A photocopy of the Articles of Incorporation if Applicable
5) Photocopy of a business license, tax id number or any other relevant license

The lender will lend up to 2.5 x the average ending balance on the business bank account for the last four months up to $50,000. These are business loans and the length of the loan is four months which can be renewed. The loan can substitute a merchant cash advance if it doesn’t surpass 40% of the eligible borrowing base. At funding, the financial institution will pay off the merchant cash advance or loan and pay you the difference.

Example, your monthly average ending balance in your business bank account is $20,000 for four months. Your borrowing base would be $20,000 x 2.5 or $50,000. If your current cash merchant advance is $18,000, the financial institution at funding would payoff the merchant first and remit to you the difference for $32,000. Obviously if you didn’t have an outstanding merchant cash advance, this section wouldn’t apply.

The kinds of businesses that would be great for this type of bad and/or poor credit business loan would be the following:

Gas stations, restaurants, bars, discos, tanning salons, pizza shops, dry cleaners, doctors, dentists, physicians, lawyers, accountants, Cpas, limousine owners, automobile service centers and body repair shops, dog groomers, florists, beauty and nail shops, distributors, all different types of service providers.

In conclusion, this is a great possibility to obtain a short term bad and/poor credit small business lending in this difficult economy. This isn’t a merchant cash advance or loan program which can be quite tedious in its paperwork and processor work qualifications . This great business loan program isn’t credit driven, consequently your Fico Score isn’t an issue.. These small business loans can be renewed every four months if needed by the applicant and gives the business a working capital injection.

Happy hunting for your short term bad and/or poor small business loan and its related working capital financing.

Article Source: http://depositarticles.com/

J.M Luna has over thirty years experience in the financial field. This includes financing, leasing, business loans and hard asset money loans. U.S Corporate Capital Leasing assists the start up and seasoned businesses for all its financing needs in all different industries. www.cclgequipmentleasing.com www.cclgequipmentleasing.com/cashadvances.htm

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