First Financial is a small credit card processing and merchant service company that was founded in 1996. They specialize in offering personal and business services. Personal services consist of auto loans, cash advances, credit cards, student loans, mortgage loans, personal loans, and low credit score loan services. Business services you can find at First Financial are high-risk merchant accounts, merchant service, merchant advance, and business loans. The consumer loan deals and consumer services are not provided by First Financial, but rather from an independent third-party company. The credit card services are issued by a third-party credit card company as well. First Financial claims to help those with low credit scores to get a loan, credit card, or other financial services. Consumers that choose First Financial should remember that they must have a credit score of 550 or higher.
FitBiz Loans is an online loan marketplace founded in 2015 by Marc Waring Ventures, LLC. FitBiz matches small business owners with nationwide lenders and assists in finding the most cost-efficient loans available for most credit types with the lowest possible interest rates. The types of offered financing include SBA loans, bank loans, alternative loans, equipment loans, merchant cash advances, and more. Consumers that choose FitBiz Loans should remember that they must have a credit score of 550 or higher.
QuarterSpot launched an online lending application for small businesses in 2013. The company provides loans to businesses in certain parts of the U.S. of up to $150,000 for term lengths of 9, 12, and 18 months. Customers fill out an online application and upload their last three business statements. In a press release, QuarterSpot states it uses artificial intelligence to search applicants' bank information, customer reviews, information on social media sites, and other data to make fast pre-approval decisions. "The resulting organic data set is much deeper and broader than available commercial credit scores and gives us a more detailed picture of the creditworthiness of a business," said QuarterSpot CEO and co-founder Adam Cohen. QuarterSpot focuses on the financial health of applicants' businesses, not their personal credit history; although the company does require business owners to have a minimum personal credit score of 550. To qualify for a loan, businesses must have an average monthly bank balance of $2,000 based on the most recent 90 days of bank data and make at least 10 sales per month. Consumers that choose QuarterSpot should remember that they must have a credit score of 550 or higher.
Alliant is a non-profit credit union founded in 1935 and headquartered in Chicago, Illinois. The lending institution offers small business loans as well as other funding options for its customers. According to its corporate profile, the credit union has approximately 300,000 members throughout the United States. Small business owners are able to acquire up to $20 million in financing, depending on loan type. Customer reviews online are evenly mixed both positively and negatively regarding the company's customer service experience and loan products. Consumers that choose Alliant should remember that they must have a credit score of 550 or higher.
LQD Business Finance is an online lending company founded by CEO George Souri in 2010 in Chicago, Illinois. LQD has developed its own proprietary risk management platform to assist small business owners with comprehensive financing and offers a wide variety of lending options. Small business owners will need to have excellent credit histories and at least one year in business in order to be approved.
Typical borrowers through LQD Business Finance have excellent credit histories along with at least two years of consistent business income. These borrowers generally need fast access to working capital for a variety of business needs. Consumers that choose LQD Business Finance should remember that they must have a credit score of 550 or higher.
Small business loans from LQD Business Finance are typically used for location acquisition or expansion, working capital, purchase orders, account receivables, and refinancing.
Silver Rock Funding started in 2014, with headquarters out in Alexandria, Virginia. The company is made up of entrepreneurs and social media executives. It specializes in small business loans, and encourages people of all credit scores to apply. Consumers that choose Silver Rock Funding should remember that they must have a credit score of 550 or higher.
An alternative lending company, Small Business Loans Depot does not require high credit scores. They dedicate themselves to different types of loans, placing them at an advantage when it comes to funding a variety of different industries. In fact, their list of industries includes dentistry, banking, construction, and the medical field. Their most popular loan is their Asset-Based Loan, providing companies with equipment, too. Consumers that choose Small Business Loans Depot should remember that they must have a credit score of 550 or higher.
American Business Credit is a nationwide business financing company founded in 2012 and located in St. Petersburg, Florida. The company specializes in unsecured small business loans and lines of credit up to $1 million. However, the finance services company does not disclose its fees to the general public. Funding within seven days, and available nationwide.
Typical borrowers through American Business Credit are small business owners with good to excellent credit and that have been in business for at least two years. These borrowers also are generating at least $150,000 or more in annual gross sales and need fast access to small amounts of working capital for a variety of business purposes. Typical borrowers come to American Business Credit because they cannot qualify for traditional funding at banking institutions. Consumers that choose American Business Credit should remember that they must have a credit score of 550 or higher.
Small business loans from American Business Credit are typically used for equipment, payroll, marketing, technology upgrades, and more.
Crest Capital started in 1989 and is based in Atlanta, Georgia. The company provides small and medium-sized business loans and specializes in equipment, vehicle, and software financing with affordable fixed rates. Crest Capital is not a big bank and offers a simple application that doesn't require tax returns or financial statements. Consumers that choose Crest Capital should remember that they must have a credit score of 550 or higher.
MUFG Union Bank, N.A., (Union Bank) is a full-service bank with offices throughout the United States. Union Bank is a member of the Mitsubishi UFJ Financial Group, one of the largest financial groups in the world that had assets of approximately $2.4 trillion as of September 30, 2015. Consumers that choose Union Bank should remember that they must have a credit score of 550 or higher.