Bad Credit Business Loans
Past events do not dictate the future
Need a Bad Credit Business Loan? – Bizcap can help!
1. Banks only look at credit score for bad credit business loans – we don’t!
Are you looking for a business loan but are struggling to get one because of a bad credit score? Thousands of businesses across Australia are stuck in this position because Banks and traditional financial institutions will not provide them finance. Traditional lenders rely on credit scores. If you do not meet a credit score criteria of 500 plus – you will not get a loan with a bank.
The double-edged sword is the more credit enquiries you have, the lower your credit score falls. The majority of private lenders and banks make a credit score enquiry each time you apply, meaning shopping around for a Small Business Loan could be doing your credit score a fair bit of damage!!
Thats where we come in. Bizcap is Australia’s most open minded lender and will give you a chance irrespective of your credit score. We realise many Small Business Owners have unique circumstances – especially on the back of the impacts that Covid-19. We only make a credit check once the loan is already approved.
2. The Bizcap approach to bad credit business loans – no credit enquiry!
Unlike other lenders, we can assess your file for a Small Business Loan without running a credit enquiry and have no minimum credit score requirements.
We have helped thousands of Small Business Owners get access to a business loan irrespective of their business or personal credit score, regardless of if they’ve been declined by another lender before and are considered to have a bad credit score.
We don’t penalise someone’s previous efforts to succeed; we focus on supporting our customer’s current position and ensuring they have the capital they need to grow and succeed in the Australian small business market. That’s why instead of looking at a credit score, we look at the strength of your business, your cash flow and general cash management.
Want a Bad Credit Business loan today?
Bizcap truly is Australia’s most open-minded lender; we can provide you with access to capital up to $1,000,000 to SMEs Australia wide within just a few hours.
So, what are you waiting for?
Getting A Business Loan With A Bad Credit Score, Made Simple, With Bizcap
Apply online and get assigned a Loan Specialist to help you through the application process. This take under 10 minutes.
Once we recieve your file, our credit team review your application and provide you with an outcome within just 1 hour
Once approved and you accept, you can have the funds in your account within 3 hours of approval.
What can I use a Bad Credit Business Loan for?
At Bizcap, we help Australian small business owners get access to the capital they need to grow fast!
Expand your business
Shop fit-outs and refurbishments
Cover tax / BAS lump payments
Invest in technology or software
Buy a new business vehicle
Purchase sock, machinery and equipment
Hire employess and pay wages
Any other business related use
Fast and flexible loans to grow your business even with bad credit
Move fast, confidently
High Approval Rates
Cash Flow Friendly Repayments
What our clients are saying about our bad credit business loans?
When in a hurry to purchase equipment Bizcap are the ones I go to. Everything is smooth and quick from start to finish. Application is easy, just a quick phone call away. Highly recommend Bizcap
Quick and efficient! Had the funds required within 4 hours of application. Paul was fantastic to deal with and explained everything very clearly.
I’m so happy with the service and speed that Bizcap provided! I had been messed around by another lender for a few weeks, when I enquired with Bizcap they sorted me with the funds in a few hours. Would recommend them to anyone wanting an actual outcome!
Such efficient, fast service. Thank you very much.
FAQs About Bizcap
Bad Credit Business Loans
How can I get a business loan if I have a bad credit score?
Do I need good personal credit to get a business loan?
Generally for banks yes, for Bizcap customers no. We assess each customer based on their individual circumstances.
How do I repair my credit score?
Steps to increase your business credit score:
- Pay your bills on time
- Decrease your credit utilisation ratio
- Establish credit accounts with suppliers
- Add positive payment experiences to your credit file
- Ensure you dispute any errors
- Maintain a healthy balance to avoid issues with bounces and late fees
What's a business credit score?
Credit scores are broken down into categories, ranging from Poor (0-509) to Excellent (833-1200), many lenders won’t be able to assist you with a business loan if your score is below average, Bizcap doesn’t have a credit score minimum.
Can I get a business loan with a 500 credit score?
What credit score is needed for a business loan?
How do you check your business credit score?
Can you still get a business loan with bad credit?
I already have a loan with another lender, can Bizcap help me?
How are repayments structured?
Real Customers with Low Credit Scores, getting a
loan with Bizcap
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^ Bizcap provides both Unsecured and Secured loans to Small Business Owners. When assessing a loan application Bizcap generally doesn’t take into consideration if a prospective customer has specific assets to provide as security. However:
(a) if the loan amount is above $30,000 (or any other figure which Bizcap determines from time to time), Bizcap will, under the loan agreement, take a charge. For a corporate borrower and any corporate guarantor, the charge is over all of that entity’s present and after-acquired property (that is, the security is not over specific assets but any and all assets which the entity may have). For a sole trader borrower and any individual guarantor, the charge is over its current and future real property; and
(b) in certain instances, for example, where the loan relative to the cash flow of the borrower is of a size that warrants the provision of security over specific assets, Bizcap may require specific security to be granted over those assets.
Bizcap may register its security interest(s) under relevant legislation, including the Personal Properties Securities Register and the register held under the Real Property Act 1900 (NSW) or its equivalent.
In addition, Bizcap may take personal guarantees from directors of corporate borrowers, directors of corporate guarantors and certain individuals. No registrations are made in respect of guarantees.
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