3 Best Bad Credit Business Loans for 2023 – No FICO or Collateral Needed

Best Bad Credit Business Loans for 2023

Today we’re gonna talk about the three best bad credit business loans for 2023 and beyond. These are available now. So don’t let the date for you. So these business loans are something that a lot of business owners do not know about. 

3 Best Bad Credit Business Loans for 2023 – No FICO or Collateral Needed

Most business owners think that they need to go through a traditional bank, wait several weeks for the money; they think they need to have perfect credit and they think they have to put up collateral, but that is the furthest thing from the truth. I’m going to show you exactly why in a second. 

How many small business owners are there in America? There are 32 million small businesses in America. Now 72% of small business owners don’t even know what their credit score is, and that is a sad state of affairs when you are looking for business capital. 

In fact, 29% of businesses fail because they run out of cash. Only 78% of small businesses survive their first year. That’s it. So after that, it’s downhill and one of the main reasons why they fail is because they don’t have enough working capital. 

If they go through a bank, they need at least a credit score of 700 or higher, an excellent credit score of 750 or higher opens up business loan options like traditional bank loans. So you’re not even looking at a traditional bank loan unless you have a 750 or higher. 

The 3 Best Bad Credit Business Loans for 2023 

So I’m going to talk about something that’s absolutely super exciting. We have three options for you. Now, these are business cash advances. Alright, so they’re based on your business revenue. 

They’re not based on how much collateral you can put up. They are not based on a perfect credit score. In fact, this first program that we’re going to talk about, you don’t even need a FICO score. 

bad credit business loan 2023

One: Instant Business Loan No FICO Needed

So this product is for business owners who only have a personal checking account, or their FICO is really bad. But they can get up to $5,000. 

Now this is perfect for independent contractors who are self employed. This is great for independent drivers, you know, like Uber drivers, DoorDash drivers, Instacart Shoppers and so forth. 

This is available 24/7, So if you have an emergency Saturday night, you can apply for this and literally get the funds in 10 minutes. 

Now we can loan you up to 25% of your monthly revenue. So if you’re doing $3,000 a month with your business, and you’re making deposits into your checking account each month with business revenue, not any job income, which has to be all from your business, then you can get up to 25% of your revenue. 

So if you’re making $3000 a month, you can probably get $750. If you’re doing $5000 a month you could get up to $1,250. 

Now you have to be doing $3000 a month with your business, be in business for at least six months or longer and have an online checking account. 

Now you can’t have more than five negative days in the last three months. You can’t have any other outstanding loans if you do then we greatly lower the amount that was loaned to you. 

The terms are three to six months and the payment is automatic weekly through ACH. 

Now this again is available for any small business owner who only has a personal checking account. Now I’m sorry, this is not available in New York or California at this time, but I’ll leave a link under this article and you can apply. 

In fact the application will redirect you automatically to the program that you can qualify for. 

So moving on to the second business advance is our same day up to $25,000:

bad credit business loan 2023

Two: Same Day Business Loan up to $25k for 2023 

This one you do need to have a business checking account. We don’t accept personal checking accounts for this one. 

Requirements: You have to be in business for six months or longer, doing at least $5000 a month in sales, ideally three deposits a month of business revenue. 

The FICO, we just lowered back down to 450 which is good news for a lot of people. Now with this one, we can lend you up to 75% of your monthly revenue.

So if you’re doing $10,000 a month with your business the last three months, you could probably get up to $7,500 the same day. The terms are four to six months, and this one comes out automatically daily through your checking account to pay it off. 

Now what’s great about this is that if you want the money today, I would apply early in the morning Monday through Friday, have three months of bank statements available to upload, your driver’s license, any voided business check.

That will ensure that you will be looked at a lot faster than anyone else. Upload these documents and you can see your pre approval now. 

Now you won’t get a final offer until we do a final underwriting and look at your checking account. Make sure that there’s no blemishes, make sure you don’t have any past felonies or anything that’s fraudulent before we can give you a final offer. 

Again up to 75% of your monthly revenue is dependent on all of these factors, plus factors I haven’t mentioned in this article. 

The last business cash advance is our big one. This one is up to $2 million in one to three days, up to five days depending on how much you need. 

bad credit business loan 2023

Three: Bad Credit Business Loan up to $2 Million 2023

This one we can get you up to two times your monthly revenue. Now this one the FICO is only 500 – which is super low for a business loan. 

You have to be doing $15,000 a month with your business the last three months and be in business for four months or longer. This business loan you need a business checking account as well. 

Now this one you have up to 24 months to pay off especially if you’re getting the larger loans. This one also has automatic daily repayment that comes out of your ACH. 

Now you can have other loans out. You can have two to four other loans out and you can still get approved for this one but the loan amount will be a lot less than what you’re asking for because you have those outstanding loans. 

Ideally, you’re making three business deposits a month. Guys, these are the best options for you if you have bad credit in your business. These are no collateral bad credit business loans. They’re absolutely the hottest thing online right now. 

We can get you the money faster than any other lender. We work with over 80 lenders to get you the best rates and the best deals, and we really do want to help you. We help the 86% of businesses that cannot get approved for a traditional bank loan.