Bad Credit Business Loans

1. Express Funding Group

2. Important Factors Determining your Loan for Small Business Are you looking to start a small business or seeking expansion of an existing one? Is your business suffering from cash crunch? Often your personal finances or working capital may not be sufficient for achieving what you are expecting. And what if your business falls prey to economic downturn? How will you cope with falling sales and meager revenues, and yet run your business? This is where a loan for small business comes in most handy. However, there are certain factors that play a significant role in determining whether you are eligible to get loans for small business, up to what loan amount you can take, and what is the rate of interest that you can get. One of the most important determinants here is the type of business, its financial records, if it is an existing business, and your credit worthiness. Depending on the scope of business or expansion that you are expecting, the amount of short term business loans can be determined. Here, you have to present a detailed overview of the business that you aim at starting or already have, and the scope of expansion that you are looking for. Depending on that the bank or financial institution will determine the amount of loan for which you are eligible. If it is an existing business, your financial records have to be in place to secure small business financing. Your lender will verify the accounts receivables, accounts payable, profit and loss statements, and balance sheet thoroughly before approving any amount as loan. If financial records of your business aren’t satisfying, you may get a loan for a smaller amount, higher rate of interest, or perhaps, no loan can be granted to you. Hence, it is important to have financial statements in place to improve your chances of securing a lucrative loan amount and lower rate of interest. Your creditworthiness or the business’s creditworthiness (for existing business) is also an important factor that determines whether you are eligible for small business funding and for what amount and rate of interest. If you or your business has too much credit account, with history of poor repayments, it may affect your chances of securing small business lending. A lower credit score also draws a limit on the amount of loan that you are eligible for and increases the rate of interest. Try to improve your credit score if you are planning to take out a business loan in the years to come. Your relationship with the bank also plays an important role in determining what you are eligible for. If you have a very good relationship with the bank or financial institution, luckily, you can even secure a business cash advance on easy terms and at a lower rate of interests. You can get a cash advance at http://www.merchantloans.com/. Moreover, the type of collateral in case of mortgage loans also has a contribution on determining the amount of loan for small business that you are eligible for and the rate of interest. With so many factors affecting your probability to secure a business loan, it is important that you build a strong portfolio and then apply for a small business cash advance or loan. So, plan ahead.

3. Contact Information :: Express Funding Group Address:6901 Jericho Turnpike,Suite 218 Syosset, New York United States,11791Phone: (800) 505-8117 Toll FreeFax:(800) 861-1442 Email:customerservice@merchantloans.com Website:http://www.merchantloans.com/