Rates for bad credit business loans will all depend on how bad your business credit has become. Better credit and less flaws will mean lower rates and smaller down payments. If you've been turned down by all the major banks, and local ones as well, your best option is a mortgage lender. Though their interest rates will be higher, and they may require at least 50 percent down, you'll have a better chance of being approved for financing.
If you have black marks on your credit, some local banks will make mortgages that they keep "in-house." Bad credit business loans are not sold in the any secondary market, unlike good credit loans. These loans will most likely carry higher rates and larger down payment requirements, though you will always deal with your local banker who might be willing to take a more casual approach in regard to your sketchy credit history.
One benefit of obtaining bad credit business loans is that you can repair business credit. Because many people have made mistakes on their business credit reports, they can be removed on their own. Often times there are clerical or computer errors as well, which are considered easily fixable.
However, if you are facing serious credit problems, it's strongly recommended that you enlist the help of a reputable credit specialist. They can help you repair your credit in a legitimate way by mapping out a comprehensive plan. If you're not sure who to turn to, then conducting some research either online or via telephone is strongly advised.