After the financial crisis, banks made the ability to receive funding more difficult. Banks were lending to people who were under qualified before the financial crisis; everyone was being approved with money they did not have and loans they could not afford. This set the economy up for failure, leading to the recession of 2008.
People had a tough time growing their businesses because they could not get a loan or the interest rates were too high. Now, with rates at an all-time low (especially for people with high credit scores), it allows businesses to borrow money for purchasing inventory, real estate, machinery, etc. to grow.
Banks look for what is called “prime customers”. These customers have credit scores of 700 or higher. People in this category are the best borrows and get the lowest interest rates. Since 2012, they are calling it a “borrowers” market, because if you have a good credit score, then the market is on your side and you will easily receive funding if you apply.
While banks are still hesitant to lend to business owners who are not “prime customers”, Ace Biz Funding is not!
Ace Biz Funding is a nationwide financial corporation that understands the difficulties of being a business owner, and provides the working capital necessary to grow. Unlike traditional lenders, Ace Biz Funding has a 24-hour approval process and credit scores as low as 550 are accepted for our business loan options.
Learn more about the Ace Biz Funding’ financial plans; such as: Cash Advances, P.O. Financing, Asset Based Lending and more! Fill out our application form online or call 800-000-0000 today!