WHAT YOU NEED TO KNOW
In the past a business owners only option to obtain small-business loans for working capital was dealing with traditional lenders such banks or credit unions and their lengthy loan application process.
The worst part about this was if you had a personal credit score below 640 you would be declined.
Times have changed… for the better.
A credit score doesn’t show the full picture of your business plan for the future.
Alternative lenders use a different set of guidelines when approving small-business loans.
Lenders look to see how long have you been in business, the businesses cash flow, average monthly deposits and credit card processing volume to determine their eligibility.

Wondering if having a less than perfect credit score and history will make it hard to get a small business loan?
Actually, for options such as invoice factoring, it's not even your credit that is being considered by lenders.
It is your client's.
When it comes to revenue-based loans and cash advances, your credit will affect the cost and term of the loan, but not how hard it is to obtain.
Qualifying for short-term loans with online lenders is not as difficult as being approved by traditional lenders such as banks.
Most banks look for a minimum personal credit score of 640, while online lenders will work with borrowers with a credit score as low as 550 for bad credit business loans.
In today’s lending world lenders have finally realized there is more criteria to consider when approving a businesses loan application for small business loans.
The businesses credit rating is no longer the single most important factor.
How long you have been in business, the strength of your cash flow and average monthly deposits help lenders determine the businesses ability to make payments according to agreed upon repayment terms.
Another way business owners with a low credit score can obtain business funding is through a merchant cash advance.
A merchant cash advance is an effective choice for many businesses who otherwise wouldn’t qualify for other small business loans.
It’s repayment terms are based on a specified percentage of their daily credit card volume.
Orumfy’s platform help borrowers with a low credit score obtain business funding through multiple financing options including bad credit business loans.
Our platform doesn’t only rely on the personal credit score like traditional lenders do.
Take advantage of using a merchant cash advance, line of credit or invoice factoring options to get the money your business needs to grow.

I can do it on mobile!!!

Not a lot of paperwork?
Great !

Can’t wait!

WOW!
That was quick!

Thanks Orumfy!
Are you in need of a large business loan, but don't have the best credit score or history?
While it's not easy, it's not impossible.
Your credit score and history reflects your "credibility" so, since you don't have that going for you, the only way to get a large business loan is to eliminate that from the lender's underwriting criteria.
In other words, you'll need collateral.
Business owners can get collateralized business loans from online lenders, the SBA or even banks.
How large of a loan you will get, will depend on the value of the collateral you are willing to pledge.
Equipment or real estate can go high in value, and enable you to get a large business loan even with bad credit.