Credit Requirements

As the availability of capital for small business lending has diminished, the obstacles you must cross to obtain the funds you need for your business has increased. As you may have already noticed, banks today are reviewing business loan applications much more strictly. As the credit crunch has worsened, most lending institutions have dramatically increased their requirements regarding collateral, financial paperwork required and of course credit.

Credit standards have risen and you now must have a near perfect credit background to receive an approval. Lenders today are requiring higher and higher credit scores as well as looking to increase collateral and personal guarantees. Any glitches on your personal credit background, (bankruptcy, foreclosure, late payments, judgments, even tax liens) could ruin your chances of your business loan application becoming approved.

Right at a time when you know you can increase business with some additional capital to purchase additional product, a new piece of equipment, or open a new location, the best option may be a merchant cash advance from Pro Business Capital. We care more about your future than your past. Although we will review your credit and take it into consideration, it is only one small piece of the underwriting decision. Factors such as the type of business you own, how long you have been in business, and your average monthly credit card sales are just as important as credit score.

If you have recently been denied a small business loan do not despair; call Pro Business Capital today and our caring professionals will discuss if a merchant cash advance is the right choice for you and your business today.