If you still want to secure no credit check financing, we recommend applying for Fundbox’s invoice financing product. Fundbox is an alternative lender that does not require a credit score or minimum annual revenue to qualify for a loan. What’s more, businesses need only be in business for six months, and if you qualify, Fundbox could advance you up to 100% of your outstanding invoice values within a matter of hours.
To apply you must have an accounting software subscription (QuickBooks, Xero). Create a Fundbox account and connect it with your accounting software. Once you’re connected, Fundbox will give you a no credit check loans guaranteed approval decision in a matter of hours. Those who qualify will be able to draw funds against your their invoices. After confirming the amount, the funds will arrive in your bank account as soon as the next business day.
Fundbox invoice financing loan amounts range from $1,000 to $100,000, and have three to six month repayment terms, plus interest rates ranging from 0.5% to 0.7%. Once Fundbox is hooked into your accounting software, it serves as a line of credit more than anything else. You’ll always know how much available credit you have at your disposal. When you need cash, you can draw and pay it back over the next 12 or 24 weeks.
Despite the fast repayment times, for those in need of no credit check financing, Fundbox is probably your best option.
No Credit Check Financing: The Bottom Line
Unfortunately, business owners looking for no credit check equipment financing will be disappointed to find that equipment loans with no credit check don’t really exist. Don’t lose hope, though!
You might be surprised to find that equipment financing could work for borrowers with limited credit, so don’t cross this type of business loan off your list. Consider your options with a variety of equipment lenders, and keep a keen eye out for alternatives that could fit the bill while you grow your credit.