Best Bad Credit Business Loans

Secure up to $750,000 in as little as 24 hours
No collateral requirement
Payment schedule tailored to your cash flow
Up to 2-year term length

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Working capital for owners with bad personal credit.

Getting a Small Business Loan with Low Personal Credit

Running a small business takes ambition. Entrepreneurs represent the backbone of the American dream. Clarify is committed to helping business owners grow with the working capital they deserve.

While your personal credit score is a factor in securing a loan, it shouldn't be the only deciding factor. We understand that your credit rating doesn't define you or your business.

Get approved and funded within 24-48 hours on our marketplace of 75+ lenders. We take a holistic view of your finances and business model to get you an approval at competitive APRs.

What Lenders Consider When Approving a Bad Credit Business Loan

For most lenders, a bad credit score ranges from 450 to 600. Traditional banks and institutions will rarely fund owners with these credit scores -- but you're in luck! Our network of lenders look at several other factors to approve your business loan application. Here are some of the factors that they weigh, regardless of your personal credit rating:

Gross Monthly Revenue

Most lenders like to see you generating at least $10,000 in monthly gross revenue. The loan amount you get approved for is often a percentage of your revenue.

Outstanding Debt

To make the approval process faster, know how much outstanding debt you currently have. Lenders look at your debt to income ratio to provide you a financing offer.

Time in Business

The longer you've been in business the better. On average, companies who have been in business for 5+ years have the highest rate of approval with good interest rates. Clarify can also provide funding to companies that have been in business for just 6 months.

Operating Cash Flow

Have the last 3 months of bank statements handy. Lenders will ask to see your most recent bank statements to verify your operating cash flow.

Business Credit History

If you have established business credit in the past, that can help as well. More important that your personal credit, is the business's cash flow and ability to service debt going forward.

Profitability

Is your business profitable or showing a positive trend towards profitability month over month? Our loan advisors point you in the right direction so you can get the best financial solution for your company.

Apply for Bad Credit Loan

Best Business Loans For Bad Credit Scores

We believe that a low credit score shouldn't stop you from business success. Clarify works with you to identify a loan option that fits your needs and unique cash flow requirements. Here are the best types of loans to get pre-approval for if your personal credit rating is not stellar:

1. Short Term Business Loan

Term loans with Clarify don't require any collateral and have low credit score requirements. As long as you have been in business for at least six months and generate over $10,000 in gross monthly revenue, we can get you pre-approved. Term lengths are usually 6 months to 2 years with APR as low as 7%.

Apply for Short Term Loan

2. Business Line of Credit

Similar to a business credit card, a line of credit provides working capital that you can use when needed for day to day expenses. Unlike a credit card, a line of credit has a much lower interest rate and does not have any prepayment penalties. A line of credit also improves your credit score over time.

Apply for Line of Credit

3. Invoice Financing

Most business owners are in an industry that deals with invoices from vendors or customers. If you have invoices that are yet to be paid, Invoice Financing is the perfect funding option. Since the outstanding invoices act as collateral, your credit score is not a factor in getting approved.

Apply for Invoice Financing

4. Equipment Financing

Just like a traditional car loan, equipment financing provides capital to purchase new or used equipment. Whether you're a trucker, restaurant owner, or construction company, an equipment loan can help you grow your business or replace aging assets.

Apply for Equipment Financing

Types of business owners we've approved for business loans

What you need to get approved for a low personal credit loan

Company has been in business for 6+ months
Generates $10,000+ per month in revenue
Can provide last 3 months of bank statements

Loan advisors that help you get funded regardless of credit rating

When you choose Clarify, we consider you family -- and work with you through the ups and downs of running your small business. Manufacturing Financing Team

See why companies love Clarify

Ready To Grow Your Business?

Get instant pre-approval for a small business loan today and have money in your account within as little as 1 day. Bad credit is okay. Prequalify without affecting your credit! Application process takes 2 minutes.

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