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| *Loan,banking and credit>>>business credit |
How can i get a small business loan with bad credit and no bank account,i already have a business plantogether |
i have the web site already up and running i could do so much more with a loan of 10,000 to 25,000 dollars.a short term loan like 90 to 180 days SBA or any bank will not lend without at least a decent credit and a 100% collateral. SBA does not lend money, but guarantees the loan for the lending banks. However, they are usually asking for 100% collateral. For that amount of money, you can try your family or friends, or use your credit card of Home equity. It will be a tough sell with poor credit, but if your idea is good, they might go for it. Good luck. Approach the Small Business Administration. The first thing they ask for is a business plan, so you already have that covered. I owned a business at one time and they were a tremendous help in my endeavors. And the best thing about it is---ITS FREE!!! You won't be able to get a small business loan from the government SBA program or from a bank. A bank requires decent credit and a bank account. But you could try friends and relatives for money. If you cannot manage your own personal finances what makes you think you can manage a business? I suggest you to increase your credit score first. |
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