Are you a business owner in Chicago looking for fast working capital but are afraid the banks won’t lend to you? Or, are you having a business emergency and need money faster than what the banks offer? We can help you get up to $25,000 the same day, even if you have bad credit. Read more to find out How to Get a Same Day Business Loan with Bad Credit Chicago.
How to Get a Same Day Business Loan with Bad Credit in Chicago
Chicago is the third largest city for small business owners. With over 232,000 small businesses in Chicago, small business owners need our fast working capital more than ever to stay open or to expand.
Most banks won’t even look at your application if you have a FICO less than 680. If you want a really good rate, you’ll need to have a 740 or higher, have great revenue, and be willing to put up collateral.
We, on the other hand, work with the 80% of businesses who are declined by the big banks. We offer the fastest same day business loan with bad credit online, and you won’t need perfect credit, collateral, or more than six months in doing business.
You won’t have to put your business up as collateral, or any of your equipment. We work with over 700 industries, even high-risk industries, and have 17 in-house lenders who are competing with each other to get you the best rate.
How Can I Get a Business Loan with Bad Credit and No Collateral?
The main reason you can get a same day business loan through us and not the banks is the big banks can be as picky as they want with who they loan money to. They have billions of dollars to lend and of course they want a perfect clientele that won’t default on their loans.
However, this conservative lending practice excludes the majority of hard-working Americans who need the money the most. The so-called Pandemic took out over 200,000 small businesses its first year. I’m sure a couple million small businesses have closed in total since 2020.
Best Same Day Business Loans Online Chicago
The best same day business loans online can be approved and funded between 4 to 8 hours. The reason you can get business funds within 8 hours is simple: our loan process is 90 to 100% automated.
We use FinTech technology to match you with the best lender by the answers you put down on the application. We work with over 80 lenders in total (all of them have passed rigorous testing) to get you the fastest working capital online.
Chicago Same Day Business Loan with Bad Credit Rates
Most, if not all, business cash advances and MCAs use factor rates instead of interest rates and they are pretty easy to calculate. Example: if you locked in a 1.20 factor rate on your advance or loan that means you pay back 1.20 times your loan amount ($10,000 x 1.20) = Total amount to pay back.
Our terms vary greatly depending on the loan. However, it’s usually between 3 to 24 months. You can also draw on funds again and again once you pay off the first loan, almost like a business line of credit.
How to Apply for Same Day Business Loan with Bad Credit Chicago
If you meet the general requirements mentioned and want to move forward in securing fast working capital for your Chicago business, simply click the “apply now” link below and answer a few questions.
If you want the money as fast as possible, have three months of bank statements ready (twelve months for trucking, etc), a voided business check, and a driver’s license. If you are seeking more than $100,000, please have last year’s tax return and your profit/loss statement ready.
We can lend you up to 75% of your monthly revenue for the $25,000 same day advance, or up to two times your monthly revenue for the business capital up to $2 million. It all depends on the financial health of your business. We want to help all business owners in Chicago survive and thrive! Click the link below to apply.
To Your Success!
Erik C. Johnson