Looking for a Business Loan with Bad Credit?
We consider a wide range of factors — not just your credit score
Select the amount you wish to borrow:
Choose your repayment term
How frequently do you want to make payments?
Apply for a credit limit up to $50,000
Get next-business-day funding after approval
Borrow any time through your online account
Bad Credit Business Loans
If you’re a business owner, you understand that having access to the business funds you need is a necessity. In many cases, borrowing money is just the cost of doing business. Unfortunately, that business necessity can be costly if you have less-than-perfect business credit. Small business loans with bad credit can come with high interest rates and unfavorable repayment terms. Being smart about what kind of debt you take on is critical to the viability of your business.
At Headway Capital, we believe you can accomplish great things with the right support — and we’re proud to help hardworking business owners accomplish their goals. We do this by offering a flexible line of credit with no hidden fees. You can access your line of credit whenever you want through your online account, and when you request money, it’s delivered to your bank account by the next business day, so long as you have funds available. This way, you can borrow the amount you need (up to your credit limit) when you need it, and build your business at your own pace.
How to Get a Small Business Loan with Bad Credit
Having less-than-perfect credit doesn’t necessarily mean business financing is out of reach. There are many lending options to consider:
Alternative lenders are a popular choice for small businesses that are unable to secure financing through traditional lenders, like banks. These types of lenders often have an easy application process, flexible options and fast funding. While the kinds of loans offered will vary, they are typically unsecured business loans.
Credit unions sometimes offer a better chance of funding approval for local small businesses. They are not-for-profit unions that take a vested interest in their community and often provide small business financing to local institutions. Most credit unions specialize in a specific industry, which can be a boon if your business is in the same industry.
Having collateral can increase your likelihood of approval for a secured business loan. Property titles or expensive items of equipment are some of the options business owners use as collateral.
Use a Co-Signer
A co-signer takes on partial responsibility for a loan by “co-signing” the loan agreement. It’s often someone who has a higher credit score or a steadier source of revenue compared to the other signer and who can handle the loan payments should the other signer become unable to pay them.
Does Headway Capital Offer
Business Loans for Bad Credit?
Headway Capital is proud to take a holistic view of your business when making an approval decision. We consider a wide range of factors — not just your credit score. These factors can include some combination of personal credit reports, corporate tax returns, profit and loss statements and other relevant documents. We use all of this information to evaluate your eligibility for credit, which means that we are often able to offer our line of credit to business owners with less-than-perfect credit.
If your business is more than one year old, you can apply now for a line of credit. If approved, you’ll have your money by the next business day.
See What Our Customers Say About Us
Rapid Metals Recycling
Before finding the line of credit, we had a loan with other companies. But the problem is that the other companies charged every day, and it's not easy to get loans from the bank. With Headway Capital's help we used the money to get more material.
JLR Mobile Surveillance
Headway Capital has been wonderful, they provided everything. We liked the people that we were dealing with, truthfully, at Headway Capital.
Shaney's Lawn Care & Landscaping
We tried traditional banking but that never worked out for us. I'm very pleased with Headway Capital. Any time I've called in and had a question, everyone was very helpful.