Business Loans for Bad Credit Houston TX

Are you a business owner in Houston, Texas looking for fast working capital but have bad credit? We offer same day funding up to $25,000 if you only have a 550 credit score, and up to $2 Million in working capital in 3 to 5 days with just a 500 FICO needed. Let’s dive into our Business Loans for Bad Credit Houston TX review.

Business Loans for Bad Credit Houston TX Review

According to the SBA, there are over 2.5 small businesses in Texas, creating half of the workforce in the private sector. Small business in Texas, especially construction, trucking, manufacturing, is what makes Texas tick.

However, most Texan business owners are struggling right now. I know several truckers and restaurant owners in Texas that are going out of business because of supply-chain issues, fuel prices soaring, and inflation skyrocketing.

Why Use Business Loans for Bad Credit Houston TX

The big banks have turned their backs against the average small business owner. Only 13% of small businesses can get approved for a traditional bank loan while the rest of small business owners worry daily how they are going to survive.

We are a family-based business capital lender based out of Michigan who has helped thousands of businesses get fast working capital when the banks are unable to help. Our motto is “when your bank can’t help, we can.”

We offer two main lending options for small business owners in Houston and surrounding cities of Texas:

One) Up to $25,000 the same day: This is a business cash advance and is based on your monthly revenue. We can lend up to 75% of your monthly revenue as a business cash advance (depending on your credit score and cash flow.)

Basic requirements for this advance are: minimum of a 550 FICO, must be in business at least six months, and be doing at least $5,000 per month of business revenue. Cannot have more than 5 NSF’s in the last three months.

There are other underlying factors that will determine what amount we can lend to you. However, it doesn’t affect your credit score to apply and see what your pre-approval amount might be.

Two) Up to $2 Million in Business capital in 3 to 5 days: General requirements for this business loan must be in business at least four months, have a FICO of a 500 or higher, and be doing a minimum of $15,000 per month in business revenue. 

On this loan we can lend up to two times your monthly revenue depending on your creditworthiness and cash flow. If you had great cash flow and a good credit score and made, for example $50,000 per month the last six months (12 months for trucking) you could possibly get up to $100,000.

Houston Business Loans for Bad Credit Loan Rates 

Getting a Houston Business loan doesn’t have to be complicated and our rates and terms are truly transparent. We use factor rates instead of interest rates and the range is from 1.20 to 1.69. 

So, if you borrowed $10,000 at a 1.20 factor rate, you would pay back a total of $12,000 (10,000×1.20)

Terms vary greatly depending on what loan you get. We offer terms from 8 weeks to 24 months. We also have an instant cash advance for business owners who don’t have a business checking account, and terms vary with that program.

How to Get Bad Credit Business Loans Houston

We offer a truly automated online lending experience, and you will be directed to the right loan program based on a few answers you leave on the application.

If you agree to the pre-approved loan amount, if you get an offer, you will need to connect your business checking account and might also need to show further documentation.

How to Expedite Your Business Loan

For the fastest lending times, you will want to have 3 months of bank statements ready (up to 12 months of statements for larger loans or high-risk industries), a voided business check, and your driver’s license.

Our Most Popular Business Loans in Texas

Trucking Loans in Texas – Texas has the most trucking companies than anywhere else in the United States. Trucking is our #1 client. However, trucking companies typically need to provide consistent revenue more so than other industries because they tend to have less stable or steady income.

LLC Loans Austin – Austin is ranked #3 in the U.S. for the most new business formations at 3,858. We help any LLC business receive working capital if they meet our requirements and have established cash flow.

Construction Loans Austin – Again, Austin comes in at #1 this time for the most new home permits filed at 31 permits out of 10,000 people. I personally lived outside of Austin (in Buda) and saw the tremendous housing growth around the I-35 corridor.

How to Apply for Business Loans for Bad Credit Houston TX

Applying for a Business Loans for Bad Credit Houston TX doesn’t have to be difficult or time-consuming. Whether you need $5,000 or $2 million dollars, we use one application that directs you to the right program.

Applying for a business loan through us will not impact your credit score, and you can get an instant decision. No collateral is needed. You also can get additional funding once the first funding has been paid off. Thanks for reading and good luck finding financing.