Bad Credit Personal Loans

Revive through Start-up business loans with bad credit

Survival for a start-up is always a big task, and if it has a bad credit score, the challenges get more prominent. Business stability is the most challenging thing to earn for a businessperson in a poor credit situation. Important financial decisions and future growth remain hampered, which ultimately ends in the form of risk on existence. In such conditions, the start-up business loans with bad credit with no guarantor and collateral can help revive better. EasyCheapLoans endeavours to become a one-stop solution for all types of financial needs in business.

How is it possible to get a business loan with bad credit?

Through a rational approach and more importance to the current repaying capacity, we make it possible. Yes, this is what we actually mean and practice too. If you pay heed to the changing financial atmosphere, the new aged lending practices are different in approach. We, as the disciples of next-generation online lending, give more importance to the present time financial conditions of a business.

Borrow up to £25000

Rate of interest up to 6.5% p.a.

Payment term 3 months to 36 months

Free post loan support

No upfront fee

Fundamental elements we consider to understand your finances to process bad credit business loans –

  • The time you have spent in business (it is okay if your business have one-year accounts)
  • Bank statement of the last six months, we may ask for up to 9 months according to conditions.
  • Payment history, we suggest the applicants not to have a consistent bad credit situation.

To the borrowers with the above factors, we offer bad credit business loans on guaranteed approval in the UK without any location preference.

I was rejected by another lender due to bad credit – Can I still apply for a start-up loan?

Of course, you can apply for a business loan even after a rejection from another lender. Various loan companies have different lending criteria, and they may not match to your financial conditions. We easily accept the fund seekers with previous loan rejection for the bad credit business loans.

Apply despite previous loan rejection with the following terms and conditions –

  • It is ‘OK’ for us if any other lender rejected you, business finances are important
  • Make sure you do not have multiple rejections as that leaves multiple search footprints
  • After rejection do not make multiple loan applications to different lending companies

Your rejection is never a reason for us to say ‘NO’ on your loan application. If any fund seeker can prove that he can pay off the funds at the right time, perhaps nothing else can stop the approval in such case.




First-time borrowers with personal poor credit history – Welcome

If you are a first-time borrower, it is perfectly fine. Every start-up owner needs to do everything for the first time. We have a range of new business loans for bad credit start-ups. THE TWO MAJOR TYPES OF APPLICANTS WE USUALLY INTERACT WITH ARE –

  • Usually, it happens with the low credit borrowers who are doing a job and open a business for additional income. Their personal credit scores are poor due to delayed credit card payments or bill payments etc.
  • Those who are jobless with bad credit and need to earn a livelihood through a start-up. They need to have some earning source to prove a regular flow of money.

Such people can apply to us for us without any second thought. If they have the vital element of reliable payback capacity, funds are not far from approval.

Did you know?

For start-up loans, your personal credit score is as important as business credit score.

Challenges start-up businesses with bad credit rating face and how we help

We experience how tough it is for businesses to survive with poor credit. When they come to us for funds, they expose all their sorrows, and we try best to help them with a suitable financial solution. Our aim is to deliver you the highest standards of lending solutions, for that we try to solve every problem you have.

Here is a list of the challenges and the related solutions we offer to the businesspersons –

Bad Credit Start-up Business Problems How We Help?
Inadequate business financial accounts We accept you with a minimum of 6-month accounts
Higher rate of interest It is a fact, but we try to help through customisation.
Smaller borrowing limit We offer a larger amount on the strong repaying capacity
Hefty instalments on business loans We help with flexible repayment plans

Fixed-Rate and Variable Rate Start-up Loans for Bad Credit – WE HAVE BOTH

According to the priority, varied start-up business owners have varied concerns on the interest rates as it affects the total cost. We offer both types of business start-up loans for bad credit in the UK, with unfailing attention on the customisation. Fixed-rate offers you certainty on repayments up to a specific limit. At the same time, the variable rate allows exploiting huge benefits when the market goes down with a lower rate of interest.

Some quick facts about fixed and variable rate business loans –

  • • We offer the maximum duration of 5 years on fixed-rate loans.
  • You are less affected by the volatility of the market if the rate of interest goes high.
  • You need a strong repaying capacity for a fixed rate. Recent financial behaviour is essential.

Your choice is always on priority for us, but our duty is to offer a right and rational deal and for that financial efficiency is a crucial concern.

Is there any condition on how I use my business loan?

There is no constraint on the use of the loan, but yes, the ultimate purpose should relate to the business only. However, we may need you to explain your intentions and provide some details on how the money is going to help your business.

Here are some rules we follow to make sure we have given you a relatable loan offer –

  • If you apply for small business loans with bad credit to invest in a big project, we may ask to show the documents or agreement with the other party or a relatable proof.
  • There should be a valid business bank account where we can send the money. We never send the money in personal accounts of the borrower.
  • If you are buying for a machine purchase, we would like to know which machine you are planning to buy. No need to show documents.

What you get from us –

  • Automated application
  • Fast funding
  • Higher approval rate

We provide loans for every commercial purpose. From equipment financing to the micro-funding, we are into everything. The progress of the business class is the food for the development of a nation, and we are committed to delivering every required help to the future makers.

What if I miss a repayment or pay it late?

Sometimes conditions are not in your favour, and due to some financial crisis, the incidents of missed and delayed payments happen. We never annoy you through repeated phone calls or never chase you by calling in your office.

  • What if you miss a repayment?– The principal, interest part and a minimum penalty adds in the further repayments.
  • What if you delay a payment? – There is no penalty up to 2 delayed payments. We apply charges from the third delayed payment.

On the request of the borrower, it is possible to make considerable changes in the repayment plan. Our team of experts is always available 24×7 with the best possible solutions according to the latest financial conditions of the borrower. The final action is decided according to the individual circumstances. Contact us and explain your condition if there is any issue on the repayment part, and we can work on some actual solution.

Choose your mode of repayment

Online lending offers you maximum possible flexibility on every aspect. To make the loans less bulky for the start-up business owners, we make sure that they repay funds according to their comfort.

The borrower can repay through three possible ways –

  • Pay from the bank account in the first ten days of the month
  • Allow us auto-debit from an account on a specific date
  • Call us, and we provide a link to pay the instalment

Your comfort is most important, and through the varied mode of payments, we try to ensure it. During the tenure, it is possible to way you pay; the only thing that is required is timely payments.

Can I apply for multiple start-up loans?

There is no restriction on how many times you can apply for start-up loans. The evident significance is of your repaying capacity. Usually, the poor credit business loans for start-ups are destined for the businesses running from less than 24 months. In such a situation to take the funds repeatedly, the fund seeker has to contain the creditworthiness.

How many instalments your business finances can encapsulate while maintaining the required income-outgoing ratio, is always a big question. Besides all, if you can manage to show a repaying capacity every time you apply for funds, we are indeed ‘OK’ to offer you money. Normally, for start-up businesses, it is not practically possible to obtain fund more than one or two times because their newness in the market is always a concern.

The Calculative Approach with Calculator

The start-up loan calculator offers an informative estimation on the loan deals we design for you. According to the current financial conditions and future business growth, we decide a rate of interest and APR to calculate the monthly and total cost. We want to clear something here; you never find us intimidating while discussing the deal. Through a rational approach, we figure out a relatable business loan.

Benefits of start-up business loan calculator –

  • Make the loan deal predictable
  • Get real-time information on the loan cost
  • Plan business finances according to the loan deal
  • Use a mobile-friendly calculator anywhere

You can use our calculator multiple times applying the different interest rates. However, there can always be a difference between which rate is suitable for you and which one is applicable in your case. The final decision is always based on the logic of the income-outgoing ratio, your business cash flow and future progress possibility of the business.

EasyCheapLoans is destined to help start-up businesses offer every required financial help irrespective of credit score status. More than the numbers of credit score, we pay heed to the current financial capacity of the business. We want to see progress in your business and better chances of profit in the coming days. If both are there, we are right here with lucrative business start-up loans for people with bad credit on flexible repayment terms.

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