How to Receive Small Business Loan If your credit is bad?
The scheme provides financial support and mentoring to entrepreneurs looking to set up their own business. According to the Start Up Loan Company, more than 32,000 new jobs have been generated as a result of the scheme since it was launched in 2012. Nicola Weeks from Bedford has been awarded the 25,000th loan and is the latest female entrepreneur to start a business through the government initiative. Prime MinisterDavidCameronsays that supporting small businesses in getting off the ground is a key part of the government’s long-term economic plan. ‘Thats what our Start Up Loans are all about its great news that 25,000 loans have now been issued, giving people who want to work hard and get on the tools and confidence to turn their entrepreneurial vision into a reality,’ he adds. Business Secretary Vince Cable says, ‘Helping businesses to access the funds they need to grow is key to our recovery and through schemes like Start Up Loans the government is supporting serious volumes of lending to small and medium-sized businesses.’ James Caan, chairman of the Start Up Loans Company adds, ‘The creation of 25,000 new businesses is a significant achievement and everyone involved the government, the Start Up Loans Company, and the loan recipients themselves, should be immensely proud.’ After a career in acting, Weeks applied for a loan of 8,500 to finance her wedding business, George James Bridal.
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Featured Financial problems are difficult to deal with especially in constantly changing business environment. A lot of factors influence small businesses like seasonality factors or simply because financial situation for many consumers changed and people stay home to save money instead of going to the restaurant or visiting local retail store around the corner. Time consuming business loan application and financial review with your bank most of the times will not get you anywhere due to strict credit restrictions. Credit requirements for small business loans are based on your personal credit history and if your credit is below 680 your application will be rejected by the bank. Based on latest statistics most of the traditional lenders such as banks will base they credit decision based on your personal credit. Access to capital is important for business daily expenditure . If your business needs capital and bad credit stops you from getting small business loan Merchant Cash Advance is a great alternative. As a business owner you know time is money our mission is to deliver needed capital as fast as possible. Here at Elite Merchant Capital we understand how small business works. Our loan products are designed around your business needs and requirements. Bad credit business loans are fast and easy to qualify . If you’ve been in business for more than 3 months you can obtain up to 100,000 dollars in 3 business days. Read 65 times Tagged under
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