Unlock Funding: 5 Startup Loan Options for New Businesses, Accessible Regardless of Circumstances

Here is a summary about getting business funding with bad credit, written in a professional tone, with bullet points, bold phrases, and headings:

5 Lenders That Can Fund Your Business, Even with Bad Credit

As a Credit Specialist, I understand the challenges of starting a business with poor credit. However, there are options available to help you secure funding, regardless of your credit score. Here are five lenders I recommend exploring:

1. Lendsa

- Lendsa offers free freelance cash advances, which are similar to merchant cash advances. - They have high-interest rates, but you can borrow up to $20,000 with terms up to 18 months. - **Qualification Criteria:** - Annual revenue over $25,000 (around $1,200-$1,500 per month) - 550+ credit score - **Credit Check:** They use third-party credit bureaus, such as Clarity, DataX, or Lexis Nexus, to assess your creditworthiness.

2. Yendo

- Yendo allows you to use your car as collateral to secure a line of credit. - The line of credit ranges from $450 to $10,000. - **Qualification Criteria:** - Own a car with equity - **Credit Impact:** Yendo reports to Experian, Transunion, and Equifax, helping to build your personal credit.

3. Fundo

- Fundo offers merchant cash advances up to $110,000. - They work with freelancers, small businesses, contractors, sellers, and franchises. - **Qualification Criteria:** - Active business bank account - Minimum $1,500 average monthly revenue - 90+ days in business - **Note:** Fundo does not consider credit score for their loans.

4. Giggle Finance

- Giggle Finance provides up to $5,000 in funding, with no credit requirements. - They work with a variety of entities, including app-based freelancers, ride-share drivers, and beauty salons. - **Qualification Criteria:** - 3+ months in business - Minimum $1,200-$1,500 monthly revenue

5. Fair Credit

- Fair Credit offers a subscription-based service that provides access to your business and personal credit files. - They report to various credit bureaus, including Experian, Equifax, and the Small Business Financial Exchange. - **Qualification Criteria:** - Minimum $2,500 to $250,000 in monthly revenue - **Benefits:** - Builds business credit - Provides a business credit card or line of credit Remember, while these lenders may have high-interest rates, they can be valuable options for startups with bad credit. Carefully consider your financial needs and the terms of each lender to find the best fit for your business.

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