Here are a few steps that can help an organization get loan despite its poor credit:
1. Make your monthly payments on time without a single default as it will help you improve your business credit report. When you apply for loan in future your prospective lenders will check your credit report before approving your loan application. If you make your payments on time then the chances are high that you will get approval for loan at an affordable interest rate. Your credit score will be high when you make your payments on time.
2. The lenders shall approve your loan application faster if your business makes profit and running smoothly. If you have good flow of cash then there are chances that the borrower shall pay back the owed amount on time. Before you apply for the loan ensure that your business has enough flow of cash to make payments on your existing debts as well as on the new debt.
3. You can maintain a record of your current financial statement before you apply for the loan program. Your financial statement should incorporate figures of your profit margin or evidences of your cash flow and also disclose the amount you owe to the creditors.