Commercial Construction Loans for Bad Credit Borrowers

With the construction industry predicted to face a giant surge in business during the spring and summer months, it’s no wonder why increasing numbers of contractors across the country are seeking commercial construction loans.

However, traditional lenders have made it notoriously difficult to obtain construction financing for those with bad credit. Banks in particular have been known put their clients through an  unreasonably strict and aggressive qualification process, and usually wind up turning their heads away from those without perfect FICO. 

Make it Easy for Yourself – Save a Trip to The Bank!

National Business Capital & Services secures financing for construction businesses with all credit profiles and financial histories, and winds up saving them extremely valuable time, energy and resources.

Running a construction business is tough enough. The small business loans for construction offered by National make accomplishing virtually any business goal a fast and simple process. Read on to learn how to get commercial construction loans with bad credit.

How to Get Commercial Construction Loans with Bad Credit

Find a lender that does not only take your personal and business credit into account when qualifying their clients.

While traditional lenders have an infamously cold and unreasonable list of requirements in order to qualify for a business loan for bad credit, alternative lenders like National approve their clients much easier, and are proud to secure funding for businesses with any and all credit profiles.

Here’s how to get construction business funding with bad credit:

  • Have a solid plan in mind as to how you plan to use a commercial construction loan for bad credit to grow.
  • Take the time to determine the best way you can use your funds towards helping your projects move along quickly and easily, while staying true to your business model.
  • Consider what long and short term materials, supplies or equipment would your business benefit most from acquiring. Or, would your business simply benefit from a financing option like a business line of credit to help prepare you to make unexpected purchases at any point in your project?
  • Ask yourself how you can use the capital you wish to borrow as a way to increase your future financial standing, and how you can use it to increase your credit score long-term.
  • Make sure you don’t settle for a business loan offer with terms that you dislike, just because you have a low credit score. There are many construction financing options out there for contractors with bad credit, and so to give up in your search of more favorable terms just because you have less-than-perfect credit isn’t right! Find a trusted lender like National that does not base approval solely on credit.
  • Call a Business Financing Advisor at (877) 482-3008 to ask what kinds of options National can offer for construction business owners and contractors with bad credit.
  • Or, fill out National’s 1-minute online application right away to receive funding in as little as 24 hours.

3 Best Types of Commercial Construction Loans for Bad Credit

  1. Small Business Loans: Specialized loans with large amounts, long terms, and low rates that can be used to accomplish almost any business goal. Each loan is designed to help business owners achieve different specific goals, in a fraction of the time required by banks and other direct lenders.
  2. Equipment Financing: Equipment loans for bad credit are a fast and easy way to upgrade or replace commercial equipment for virtually any industry without any hassle. With equipment financing from National, you can leverage the new equipment itself as collateral, and receive funding as soon as a single day, regardless of bad credit.
  3. Business Line of Credit: Using a business credit line is one of the easiest and fastest ways for a borrower with bad credit to make spontaneous purchases as needed. While slightly tougher to receive with bad credit, National has secured businesses with bad credit across the country with a business LOC, who are utilizing their flexible terms, and large amounts offered to grow and expand.

Bad Credit? Good News!

Because the Business Financing Advisors at National make the funding process fast and simple for their clients as possible!

No more unreasonable wait times, mountains of paperwork, or insane qualification requirements from traditional lenders. No more single-offer ultimatums. Choose National to receive benefits including:

  • Minimized paperwork requirements
  • Expedited processing
  • Compare offers from a marketplace of over 75+ lenders
  • Round-the-clock advice from an expert Business Financing Advisor, always there to help you out throughout the funding process from start to finish!
  • And much more!

NBC is proud of its approval rate of over 90%, due to their acceptance of businesses with a variety of credit scores, from squeaky-clean to not-as-clean.

Even those with an open tax lien will not be immediately discredited, due to a strong belief in standing up for small businesses that show promise and ambition, and seeing the value in a company based on the bigger picture, rather than its current financial standing.

Take the Next Step!

National’s approvals can be made in as little as 24 hours, and financing is deposited quickly into the borrower’s account.

If you have questions and would like to speak with us about obtaining construction business financing please contact us at (877) 482-3008 or fill out this 1-minute online application for a prompt response.

National Business Capital & Services is the #1 FinTech marketplace offering small business financing and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.

Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.

We strengthen local communities one small business loan at a time.
For every deal we fund, we donate 10 meals to Feeding America!

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About the Author, Matt Carrigan
Matt Carrigan is the Content Writer at National Business Capital & Services. He loves spending every day creating content to educate business owners across every industry about business growth strategies, and how they can access the funding they need!