Generally speaking, a good or poor personal credit score ranges from 00 to . Most bad credit loan Email Marketing List options require a minimum score of at least 00. Lenders may also have minimum qualification requirements based on annual income and how long your business has been in operation. Older businesses with higher revenues often have an easier time getting loans because they are considered less risky. That said, more than of lenders tightened credit requirements for small business loans in the second quarter of 0.
If you have a low credit score, you may want to look into bad credit business loans. Keep in mind: These products tend to have higher interest rates than traditional loan products. Still, they can allow you to get the capital you need for your business. You also want to be wary of scams. Entrepreneurs with urgent business funding needs are especially vulnerable to fraudsters. red flags: Upfront fees (usually a processing fee or credit check fee ). Genuine lenders do not ask for funds up front. Approval guaranteed, especially if there's no credit check. A website with no website or no contact information. Contact you to offer loans or debt relief without solicitation.