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| *Loan,banking and credit>>>business credit |
Is it possible to get a small business loan with bad credit? i want to start a home based business.? |
Is it possible to get a small business loan with bad credit? i want to start a home based business.? Your chances are extremely slim because of two factors: 1 - Poor credit. They won't even read your business plan if they see that you have poor credit. How can they be guaranteed that you can repay them if you have proven in the past that you have been unable or late in honoring your payments? 2 - Home business. Unfortunately, many banks do not give loans for home-based businesses. Even if you have great credit, or a good business plan, if they see you are planning a home-based business, they won't give you a loan. They just feel home businesses are too small-time and too-high risk. You may want to try first your own bank where you have history, or try the smaller banks |
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