Bad credit business loans are much the same as standard business loans in functionality, but they might cost you a bit more. Having bad credit indicates to lenders that you are a potential risk for being unable to keep up with loan repayments, so they often charge a higher rate of interest or will not offer to lend you as much. Business loans for bad credit customers can still be for:
- Small businesses
Small companies and new businesses commonly find it more difficult to get finance, especially a bad credit business loan, but there are providers who could offer a competitive deal on the loan you need.