Is it hard to get a business line of credit with bad credit?

It will be more difficult than if you have good credit, but it’s not impossible. The application process will look the same, but you’ll have a limited number of options when it comes to lenders and interest rates. 

Can a startup get a business line of credit with bad credit?
Which is a better option for bad credit: a business line of credit or credit cards?

Neither option is inherently better, it just depends on what you need to use the funding for. Business lines of credit often have larger limits than credit cards so are meant for large purchases while credit cards are meant for day-to-day, cheaper expenses. 

Are there any business lines of credit available with instant approval?

Not really. There are lenders that provide a decision within a few minutes, but these lenders often require good credit. Additionally, the lenders that do provide fast decisions don’t usually do a thorough underwriting process so you’re definitely not getting anywhere near the best interest rates. 

What’s the easiest business loan to get with bad credit?

In general, online lenders who provide lines of credit or loans offer the most relaxed credit requirements. The SBA and big banks, on the other hand, have more intense requirements. 

About the Author

Christopher Murray

Christopher Murray

Personal Finance Expert

Christopher Murray is a professional personal finance and sustainability writer and editor who enjoys writing about everything from budgeting and saving to unique investing options like SRI and cryptocurrency.

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