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Many people are easily seduced by the idea of getting business loans; no credit check being necessary. Unfortunately, in the modern economy this is much closer to fantasy than reality, but there are nevertheless ways to get loans even if your credit is subpar.
The first thing that you want to do is to go out and see if you can find some good smaller or online banks, or possibly even credit unions that will be willing to lend to you. Finding the right lender is key because the type of lending institution that you will be dealing with, whether it be a credit union or a large corporate bank, will determine exactly how easy it is in order to talk with a representative. The more regulated banks will have bigger (or insurmountable) walls that you have to climb in order to get your voice heard by a lending agent. Does this mean that you can then go in with no proposal and no credit and get qualified for business loans? No; credit checks are still going to happen and you will very certainly need a good business pitch in order to secure financing, but it will give you a much better opportunity than if you simply had to deal with a corporate bank.
You may also want to try P2P lending. If you have a good personal network, you will probably be able to find someone outside of the mainstream market that will be willing to help you out with your business loans.
Lastly, if you already have a business that is doing a sizable amount of credit card transactions but have no credit, there actually is a way for you to get business loans: no credit check is required for merchant cash advances. A merchant cash advance is a loan (and often a sizable one) that is based exclusively off of credit card transactions; the more you do, the more your loan will be. It’s a little known trick that only a handful know about , but it is an excellent want to get financing with no credit check
