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| *Loan,banking and credit>>>business credit |
What kind of small businessloans are available for people with low credit scores to start a 1st business? |
I am looking to opening my first business and have a low credit score- due to student loans and debit's from collage being paid off through a debit management service. Are there any small business loans out there I can look into or in the future look into as my credit improves? Check out the SCORE website, SBA, there are state grants available as well that do not have to be repaid but are for new business owners. Not everyone has great credit and I am in the same shoes you are, going to college, but I am also divorced and am starting my own business. Do not give up! Source(s): www.score.org http://www.isquare.com/faq.cfm probably not much. why would someone loan you money? and if someone did, what interest rate would you think was appropriate? i mean, you've already proved that you don't pay your debts. and "(what) I can look into or in the future look into as my credit improves" is a fair way off. My husband and I are in the same position as you. We are currently talking to Capital One to see if there's anything they can do for us. However, we've been in business for 3 years as opposed to just starting out. We don't have any cash flow so it really does feel like we're just starting out! If you can't talk to a bank, talk with a relative or a friend or an accountant or someone like that to see what they would suggest for someone in your situation to do. bla bla bla ok this is not a business but you do make money from home intially with 100 dollars you can start MONEY FORMULA http://www.themilliondollarformula.com/b... This people do know the formula i dont know how much do u know about probabilities but this folks shure do little tip: when u join skip the first 3 steps for now and use the numbers they provide to make money then later go back to the 3 steps I just heard about prosper.com. This is a people to people lending service. Sort of like eBay for loans. If your credit is bad and you have a lot of debt, you'll probably have to pay at least 20% in interest. As a small business person, I can tell you that 20% interest will make it very difficult to profit. First businesses are usually fantastic ways to go deeper in debt. I recommend finish paying off your loans. That will take a while. In the meantime you can plan your business and educate yourself. If you are already having problem paying bills in a timely manner you should definitely not start a business. It's easier to work for somebody else until your debt is gone. When you have a positive net worth you will be in a better position to start a business. http://www.prosper.com |
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