Bad Credit Business Loan

There are options to keep your business growing

Securing a business loan without a strong credit is difficult as traditional lenders are unwilling to work with businesses without an established credit. However, your options don’t end there. Alternative lending options such as Simply Funded specialized in getting the funds you need with a streamlined approach.

Things to Consider Before Applying

1. What to do with unpaid invoices?
Chances are you have more than a few unpaid invoices. Cash flow sources that can be freed up through invoice financing. The best part is, the invoice itself is the collateral as landers focus on the invoices that you are owed.

2. Is it the right time for a loan?
While a loan can be necessary, the need might not be immediate. As an owner, ask yourself the following questions, are there places where capital might be tied up? Are my business able to meet the loan obligations?

3. Are there inaccuracies in my personal credit history?
Your personal credit history will impact your qualifications for a business loan. If your business does not have a long history, lenders look at your personal credit history to gauge how you will manage your business finance. Take another look at your credit history, are there inaccuracies hurting your score?

4. Business line of credit?
This is a great option with one of the best terms for a small business. You only pay for what you borrowed, and after the repayment, you can borrow again.

Securing a Loan

Depending on your credit score, securing a loan may add unnecessary burden to your business. However if you think your business has the proper systems in place, securing a loan might not be out of reach. The table below provide available options at each level.


FICO Score: What to expect at each level?


Most loans are unavailable or come at higher cost than average. Short-Term Loans, Invoice financing and business line of credit are your best options

550 - 650

Loans at this level will be at higher cost than average. You might want to look at business line of credit or a short term loan to build your credit

650 - 699

Typically a good score for non traditional lenders. Giving you financing options at lower cost. While an SBA Loan is not a guaranteed option.


As you reach this level, you get access to a lot of options for lower cost borrowing. Plus, an SBA loan is guaranteed


Max Loan Amount
$5,000 - $750,000
3-24 months
Starting at 1.14
As fast as same day

Application Process

To speed up the application process, have the following documents ready prior to submitting your application:

Credit Card Processing Statements
Driver's License
Voided Business Check
3 Months Business Bank Statements

There’s a simpler way to access the funds you need

Apply Now