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| *Loan,banking and credit>>>business credit |
How do I get money to start up my small business if my credit is less than perfect? |
How do I get money to start up my small business if my credit is less than perfect? I have helped a large number of small companies get started. I have found that good credit on the personal side reflects on how a business owner will pay their obligations on their business. I have also seen that new businesses are cash intensive. Lenders will require a cash commitment from you for a major part of the start-up. A strong business plan will play a larger than normal role in obtaining credit because of the credit shortfalls you may have. Do what ever you can to correct your past credit . It will benefit you personally and also business wise. no chance. work hard, save your money and finance yourself with cash. debt will sink any small business before it has time to take off. Here are some resources to look at that may be able to assist you. http://www.sba.gov http://www.ineedworkingcapital.com... http://www.score.org Why do you need start up money? What kind of business are you looking at? Is this business something you can start off by working in your free time from your home? Using little or no money to start? I will say this to you, I would be leery of loaning any money to someone with bad credit. Especially the kind of capitol you are probably are looking for. I will venture a guess - you want to quit working your current job, go full time into your new business all on borrowed money? Bad plan. Start small and grow big. Credit is a crutch for small thinkers. |
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