u/younggun2

credit score is around 510 right now

I know that's bad. had some personal stuff happen in 2022 that I'm still digging out of

but my business is doing okay. food truck, been running for 16 months, averaging $14k a month in deposits, no NSFs in the last 6 months

I keep seeing MCA companies advertise no credit check and I'm wondering what that actually means in practice. like if they're not looking at my credit score, what are they looking at? and does my 510 show up somewhere in the process even if they say they don't check it

also what's a realistic factor rate for someone in my situation

I keep seeing ads for 100% equipment financing and no money down

I need to finance a refrigerated van for my catering business, about $42k. I have decent credit (690) and 2 years of business history but I don't have $8 to $10k sitting around for a down payment right now

every time I've called one of these no money down places they end up asking for a down payment anyway, or they want the first and last payment upfront which is basically a down payment with a different name

has anyone actually gotten equipment financing with genuinely zero out of pocket at signing? what did your situation look like and who did you use

Personal credit took a hit a couple years ago. sitting around 560 now. But my business invoices are solid. clients are established companies, they pay, just slowly. Everywhere i look says invoice financing is based on your clients' creditworthiness not yours. which makes sense in theory. But then i apply and they pull my personal credit anyway. Has anyone with bad personal credit actually gotten invoice financing approved? And did the lender really not care about your score or was it just a soft .

came across Sunwise Capital while shopping for working capital. they seem to focus on small businesses and advertise fast approvals.

my situation: HVAC company, 3 years in business, around $30k monthly revenue, credit in the mid 600s. need about $25k to cover equipment and a slow season.

couldn't find much independent feedback online. their own site has testimonials but those are always curated.

has anyone here actually gone through their process? curious what the factor rate or APR actually looked like once you got to the contract, not just the initial pitch.

came across Rkan .ltd while looking for alternative business funding. their site talks about financial due diligence, compliance, and something about 'unlocking capital from assets through tokenization.'

that last part threw me. i just need working capital for my business, not a crypto pitch.

can't find a single independent review anywhere. no reddit threads, no BBB listing, nothing on trustpilot.

is this even a real business lending company or am i misreading what they do?

My LLC is only 8 months old so I can't qualify for most business loans. LendingClub keeps offering me personal loans at decent rates and I'm wondering if it's smarter to just take a personal loan and use it for the business.

I know mixing personal and business finances is generally bad advice but I'm running out of options. Has anyone done this? What are the real risks beyond the obvious 'it's in your personal name'?

Got a mailer from First Funding Inc saying I'm 'pre-approved' for up to $150k. My business is doing well so I'm curious but also skeptical of these mailers.

Can't find much about them online. Are they a real lender or just a lead gen company? If they're legit, what kind of rates do they actually offer? I need working capital but I'm not filling out a form for a company I know nothing about.

Got a quote from First American Equipment Finance for some medical equipment. They're a division of M&T Bank so I assumed they'd be more competitive than the standalone fintech lenders.

The rate they quoted was actually higher than I expected from a bank-backed lender. Is this normal? Did anyone negotiate a better rate with them? I have good credit (740) and a 5-year established practice.