How to Get a Business Loan with a Bad Credit Score
Being a business owner is a career dream for many, holding endless possibilities for financial, personal, and professional success. You can be your own boss, work towards your personal advancement, and wake up every day to a job that you’re passionate about – it’s no surprise that countless people hope to open up their own business someday. Unfortunately, for many people, their dream begins and ends with the realization that they’ll need to secure a private company loan in order to fund their business in the early stages, as well as during periods of expansion or growth.
Qualifying for a Business Loan
Figuring out how to qualify for a loan for your business can be an intimidating process, especially for people trying to overcome bad personal credit. Among the most common questions on the topic are, “How much is a small business loan?” and “Can I get a loan for my company with bad personal credit?” The good news is, even if you’re dealing with a low personal credit score and wondering how to qualify for a biz loan, you still have excellent options.
Getting a Business-related Loan with Bad Personal Credit
If you have a rocky credit history, you run the risk of being turned away from most traditional banks. If you’ve ever gone through the loan process, you likely know that one of the first things they require is a thorough credit check. A low credit score can be the sole obstacle that stands between you and a standard bank-provided loan, preventing you from achieving your goal of becoming a business owner.
However, there are less traditional, smarter methods for getting the loan you need – with or without good personal credit. For example, Pawngo has designed an innovative, online pawn system that allows you to leverage the value in things you already own – like jewelry, purses, collectibles, musical equipment, or a luxury car – and receive quick, easy funds. We work with customers that have a wide variety of personal items they’re willing to use as collateral. For Pawngo customers, our process is a unique way to make use of items they already own.
The Pawngo Difference
Odds are, you’re relatively familiar with the pawning process. However, Pawngo is much different than your neighborhood pawn shop. We operate completely online and were the first business in the United States to receive an online pawn license. Our process is completely discrete, safe, and secure, and countless customers trust us with their valuables. To date we have funded over $20,000,000 to our clients and we continue to grow every day. We have been featured by Lifehacker, CBS Houston, and The Street to name a few. You can read more press coverage here: Pawngo Press.
If you’re looking for a smart, simple way to secure a business loan that doesn’t require good personal credit, contact us today for more information.