Getting a business loan is difficult if your credit score is less than stellar. And growing a business requires access to capital. In fact, 1 out of 4 businesses cites not receiving funding as one of the most significant factors preventing business growth. However, you don’t have to kiss your entrepreneurial dreams goodbye just yet – we’re covering everything you need to know about how to get a business loan with bad credit. Keep reading to find out.

Do Your Research

Before you apply for any loan, it’s essential to do your research. Make sure you understand the terms and conditions of the loan and the repayment structure. Make sure to do your research on different lenders and compare interest rates and fees so that you can find the best possible rate. Consider speaking with an experienced lender to assess your situation accurately.

Improve Your Credit Score (or at least try to).

Your credit score is one of the most important factors when applying for a business loan. But let’s face the facts – having a lower credit score will make it harder to qualify for a loan or get approved for favorable terms. To improve your chances, try paying off any outstanding debts and working on building up your credit history over time. This will help build trust with lenders, making them more likely to approve your application.

Understand Your Options

You have several options when applying for a business loan with bad credit. One option is to look into alternative lenders, such as online lenders or peer-to-peer networks that specialize in working with people with bad credit. These lenders typically offer loans ranging from $2,000 – $500,000 and offer more flexible terms than traditional banks do. For instance, at Proto Financial, you can get quickly pre-approved for a Merchant Cash Advance (usually within minutes) and receive your funds within 24 hours of approval.


Finding a business loan can be challenging if you have poor credit. But, with a bit of research and taking the proper steps toward improving your credit score, you can find alternative sources of financing, such as microloans, a merchant cash advance, or online lenders who offer short-term loans with less stringent requirements than traditional banks. With persistence and patience, you should be able to find the right financing solution for your business needs.

Stop shedding tears over lousy credit and get a merchant cash advance instead.

Did you know that merchant cash advances have an 85% approval rate? Don’t leave your business dreams in limbo due to bad credit. At Proto Financial, you can find the financing your business needs (even with bad credit). Whether you’re looking to open the doors to your very first business, upgrade equipment, or expand locations – we make it easy to access working capital. You can recieve funding within 24 hrs and enjoy a flexible way to spend with a merchant cash advance. Apply today!