Which typically ranges from

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This is a secured loan because the equipment you buy is used as collateral, which means the seller can repossess it if you can't pay. You can find out what the minimum credit requirements are Equipment loans as low as 00. Best for: Businesses who need funds to purchase equipment. Short-Term Business Loans for Bad Credit Working Capital Loans Working capital loans are designed to help pay for day-to-day expenses, such as rent or wages, rather than investing in larger purchases like equipment. These short-term loans typically last - months and are especially helpful for businesses with strong revenue seasonality, such as landscaping and construction companies, that need help covering expenses during the off-season. You can find one with minimum credit requirements as low as $00 Working capital loans, but you may need to provide collateral to get the loan.Best for: Businesses who need short-term assistance to cover operating costs.

Merchant Cash Advances A business cash advance (MCA ) is used to cover short-term costs, but it Email Marketing List works differently than a traditional loan. Instead, the lender provides you with funds up front, and you repay the debt through a portion of your credit and debit card sales that it charges periodically. You may find that some MCA providers have no minimum credit requirements. But for most of them, you need at least 0 points.



This type of financing comes with a factor rate instead of interest, . to .. A factor rate of . means you will repay 0 of the amount borrowed, plus the service fee charged by the provider. The repayment period for MCA is approximately to months. While this is one of the faster and more direct ways to make money, it's often more expensive than a traditional loan. Best for: Businesses with high volume debit or credit card sales. Lines of Credit A A business line of credit allows you to withdraw funds as needed and only pay back the amount you withdraw (plus interest ).