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Can I Get A Business Cash Advance Loan with Adverse Credit?

You may be considering an application for extra funding for your business and perhaps you have decided that a Business Cash Advance loan is the best fit. 

Given that the Business Cash Advance (BCA) product is such a popular choice for SMEs looking to access additional working capital, it is not surprising that you might be thinking about applying.

Our Business Cash Advance enables businesses to borrow up to 125% of their monthly card volumes and this can range from anything between £5,000 to £150,000 and above.

The funding can be used for any business purpose, but typically, our BCA product helps businesses with the following:

  • Renting or buying a new premises
  • Refurbishment and expansion
  • Coping with the challenges of seasonality
  • Hiring equipment
  • Marketing costs
  • Purchasing stock

So, if you think your business could benefit from the funding gained with our Business Cash Advance, you might have another obstacle that is stopping you from making an application.

“Can I get a Business Cash Advance with adverse credit? Or any type of business funding at all?” 

Adverse credit may well be the last hurdle that is stopping you from applying for business funding. You have done your research, you are sure that the extra funds will enable your business to thrive and meet its growth targets, yet you fear a bad credit rating is going to result in your application being rejected.

It is a fear that many business owners have dealt with previously, but in the case of a Business Cash Advance, an application is not based on credit rating – it is all about card sales.   

A Business Cash Advance is a form of lending that differs from the rest. Unlike with a traditional business loan where an amount is borrowed and then paid back in rigid monthly payments, BCA is a far more flexible product that allows businesses to vary how much they pay each month.

It is a form of funding that is based on the future sales of a business and these sales are essentially sold to the financial lender at a discount. The amount that can be borrowed is based on the card takings of your business, which means SMEs do not end up borrowing money that is far beyond their capability to pay back comfortably. 

Whilst BCA is not a product designed for businesses with adverse credit, having a successful application is certainly not beyond the realms of possibility. An application for a Business Cash Advance from a company that has bad credit will still be considered as credit rating is not entirely what we base our decision on. 

The Nucleus BCA application is as simple as it can be – quick, hassle-free and you can apply in minutes.

We understand that fast decisions are important for businesses that are trying to stand out from the crowd in a very competitive market, and so to help address this common challenge, we make same day decisions with a full packaged application. 

However, if your application is not successful, do not fret, as there are other viable options out there for your business. There are other solutions that can help nurture your adverse credit rating back into good health, all whilst helping your business flourish.

Property finance is an alternative route that you can explore. An adverse credit rating is not a deal breaker for this funding product as it is a secured business loan.

With property finance, the funding we give businesses is backed by a residential or commercial property. With this collateral in place, the issue of adverse credit is alleviated, and your business can borrow the money that it needs.

So, if your business has been rejected for finance because it does not fit the standard lending criteria, get in touch with our team today to organise a consultation.

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