Most lenders review your personal and business credit scores when determining your eligibility for a small business loan. Having “bad credit” refers to a personal FICO Score below 670. Lenders may focus more on your personal credit history if your business is relatively new.
Bad credit business loans typically require a personal credit score of 500 or higher. Rates tend to be more expensive, although shopping around can help you secure a better deal.
Unfortunately, no-credit-check business loans aren’t available. And although there are no-credit-check personal loans, it’s generally not wise to use personal loans for business purposes.