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You have made it through the toughest 3-4 years of business; you have poured your energy, creativity and money into making your company sustain itself and grow. The start-up phase for any business is the most volatile time; lenders and creditors turn away from you when you feel like you need them most but the issue is, as statistics clearly support, your new venture is too risky to lend to.

Now it is 3 years later, you’ve survived, sales are being generated and you’re making money. You should be “bankable” right? Meaning, you should be able to approach a commercial lender for a loan or equipment finance at some amount and get approved. Most business owners would say “yes” but the real answer to the question is – it depends. It depends on how your business has operated during those initial years and what you plan to do with the money.

If you’re going through a rough financial time in your life, you’re not alone. If your financial problems have led to, or have contributed to a poor credit score, you’re not alone either. On the spot financing, also known as buy here, pay here, might be able to help you get back on your feet.

The way the credit system is set up can sometimes be contradictory. If your credit score is low, the only way to build it back up is through credit cards or obtaining bank loans, then paying them off. But these same financial institutions will turn you down if you already have bad credit. Once you’ve been turned down, you may feel stuck, and you might not have much hope for improving your credit score. So how is it that on the spot financing can help you in this kind of predicament?