Bad Credit Loans for Small Business

Even though small business owners often need money to expand their small business by financing and purchasing new equipment or hiring staff, it can be quite difficult to find a traditional funding bank that willing to give you a small business loan if you have bad personal credit score! Between high interest rates or even sometimes a complete refusal, professionals with bad personal credit score can encounter important obstacles before finding the financing amount or many other options they have. Keep reading this article to find out how Blursoft’s small business bad credit score funding can provide and help you get a secured loan with bad poor credit score.

Secured Loans for Bad Credit Score by Blursoft

You have probably already heard the saying “you need to invest money in your business to earn money in your business”. Indeed, if you’re a small business owner, you know first-hand just how true that is. Running a small business works like a rocky road with its ups and downs and there come times when you need to borrow capital for funding further develop your small business and pay back of course. However, if you happen to have a poor credit score, it can be quite difficult, if not impossible, to find a bank that’s willing to lend you the money you need. And sometimes, all it takes is one late or missed payment to plummet your credit score rating! Fortunately, Blursoft funding is here to provide you with a fitting financing solution even if you have bad credit score.

FICO Scores and Secured Loans for Bad Credit

The FICO credit scoring system was created in 1956 by the Fair Isaac Corporation. The company wanted to create a scoring options system that’s fair to both lenders and consumers. In a usual scenario, lenders base their decision on your FICO score. Your FICO score options allows lenders to assess credit score with risk and determine how likely you are to repay a business loan. It is decisive in the loan application process.

This three-digit number is based on different criteria such as:

When Should You Consider Applying For a Secured Loan for Bad Credit?

Before applying for a loan, it is important to know what is your FICO credit score. FICO scores range from 300 to 850. Even though each lender’s interpretation of these scores can be somewhat subjective, you can determine if you have bad credit by knowing your FICO credit score.

FICO Score Credit Score Rate
800 - 850
740 - 799
Very good
670 - 739
580 - 669
500 - 579
Below 500
Very poor

If your score is between 300 and 629, then you have bad credit score. If this is the case, you will probably have a hard time getting a loan from a conventional lender. But don’t worry! You can still borrow the funds you need for your business by contacting Blursoft! Click “Apply Now” and get a business loan if you have poor credit score.

Applying for a Secured Loan for Bad Credit with Blursoft

Blursoft Working Capital has your back and understands that your small business is more than just a 3 bureau credit scores. If you have bad credit scores, Blursoft Working Capital can connect you with the best lenders so that you can obtain a Business loan. Concretely, this means that your loan will be secured with collateral against your business , such as business invoices or business equipment loan. The application process is very fast and easy. You just need to fill in an online form on the Blursoft website (click on the top right “Apply Now”) and a bad credit small business loan specialist will quickly contact you to discuss your business needs and find the appropriate tailor-made solution for your business. Depending on your credit score, how long you have been in this small business loans, how long your business is running and the structure term, you can borrow up to $500,000. Approval rates are high and as soon as your loan is approved, typically you get the money in 24 hours with the best interest rate! for California Residents please learn our policy before you get pre qualify.