Can I get a business loan if I have bad credit?
Starting a new business is such an exciting time! You have a great idea and it’s time to take it for a spin in the real world to see how it goes. But the question often is “Can I get a business loan if I have bad credit?”
Oftentimes, small business owners or sole traders have a strong sense of the product or their industry, but are less savvy when it comes to the financial side of running a business.
If you have a bad credit history, you might be apprehensive about getting a business loan to help with the costs of your new venture.
But never fear! Options exist for getting a business loan, even if you have bad credit.
If you think you might have a hard time getting approved, it’s a great idea to get an experienced broker on your side. Our team have extensive experience in the financial industry and can help you find a loan that suits your needs – and work to get you the best possible.
Applying for a business loan can involve navigating the lending criteria from a range of providers and considering interest rates – all of which are easier with a specialist on your side.
Sometimes, having a new business can make it a bit trickier to get a loan, as you don’t have the income history or paperwork to demonstrate your financial situation. But there are other ways to leverage your business and get the best deal possible, it’s just a matter of know-how.
So to answer your question “Can I get a business loan if I have bad credit?” the answer is most probably yes.
We have a fantastic success rate – 9 of 10 Zoom customers who meet the lending criteria are approved for their loan! Why not join them and give your business a head start.