If you’re looking to get a business loan, you probably have bad credit. If your credit wouldn’t be bad you would turn to your bank. Bank loans are always the cheapest option since the SBA helps the banks borrow to small businesses. Unfortunately the banks will not approve business loans for people with bad credit, making it very difficult to get a loan for most small businesses, but you probably know that there are alternatives.
Since 2006 loan companies throughout the nation started to offer business loans for bad credit with higher interest rates than the banks. These loan options gained momentum in the small business world especially for business owners with poor credit that were getting turned down by the banks. The industry became very big and more and more competitors started to offer similar loan options that were designed for people with bad credit. The most popular option is known as ‘Merchant Cash Advance’. MCA is actually a fancy word for a high interest business loan that is not ‘considered’ a loan, but is similar to a loan, being that the business receives ‘cash’ and is obligated to repay the cash within a frame of time. Just like you would describe a loan..
The term ‘merchant cash advance’ relates to a specific system that the bad credit loan companies invented, to be able to borrow money for businesses even though they have a bad history or bad credit. The company ‘buys off’ cash from their every-day sales, and receives a percentage of the sales until the loan is repaid. If you are looking for such type of loan you are in the right place. Business Loans Direct Lenders is a nationwide platform that brings a revolution to the merchant cash advance industry. We believe that despite thousands of loan companies that claim to be cash advance ‘lenders’ or simply ‘loan agencies’ there are actually a dozen of real direct lenders, and quite a few of the best business loan companies.
BLDL was founded by a handful of professional former business loan brokers that know the industry through and through, and know how to sift out the actual business loan direct lenders. We have worked with these loan companies for almost a decade, and we know how they operate. We can pin point the very best business loan companies, based on ourextensive experience.
We provide you a clear index of the big lenders in the merchant cash advance industry, with all the information you are looking to know about that lender, such like the loan requirements and limitations. If you ever tried to get a loan you know the difference between getting a loan through a middle-man or broker, and getting a loan from a direct lender. When you handle with the lender you feel like everything is straight and direct, and you don’t feel insecure throughout the process. There is no need to explain why most small businesses that apply for business loans prefer going directly to the lender, rather that using an agent or a so called ‘loan company’.
While everyone can offer ‘loans for bad credit’ and then pass on the application to a lender that will offer a commission, not everyone can actually lend money. There is a big conduct difference between a broker and a real direct lender.While a broker is not regulated on his activities, a lender is. If you give out your information, such like your social, to a broker you don’t know where that information may end up one day. But that is not the case by a bank. Most direct lenders keep a ‘bank style’ operation, and are bent under the wings of the government.
Even considering ‘credit pulls’ as a practice that differentiates between a broker and a direct lender. While a broker can send your social data to multiple lenders in order to get the best deal, resulting in multiple credit pulls that will affect your credit, a lender will not pull it more than once. That is why most people look for business loans direct lenders and try to go direct and apply.
The problem is though, that it is very difficult to find the right lender that will give you a loans guaranteed approval even with bad credit. When you need to choose a loan company from hundreds of options, it is very difficult. Wouldn’t you like a way to be able to know who is really good and which company is best to choose without needing to provide an entire list of your personal profile before anything? Well that’s exactly what we do. We are business loans direct lenders. Our name says it all. We give you an index of all the best big names of the major lenders in the merchant cash advance industry. We don’t ask you for anything. It’s all 100% free without any obligations. If you’re looking for merchant cash advance direct lenders just click through the index and find the right lender that is best for you.
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