Bad Credit Agency

Can business owners with bad credit attain a loan for their endeavors?

I have this idea that fascinates me (I'm not going to spill it here). But I have bad credit due to being a student with loans and medical bills. After I set up a DBA, couldn't I start an LLC and place the company responsible for loans? I have assets I could use for collateral if it will help me.

Public Comments

1. Yes, but will pay high intrest rate.
2. I'd set up the LLC first. I doesn't make sense to run a DBA (sole prop.) if the business is legitimate because you would be opening the assets you have that you want to use for collateral up to exposure. Also, regardless if you run the loan through the LLC, you will need to sign a personal guarantee on the loan in event of default. Do you have a relative or spouse this good credit who can co-sign for the loan?
3. I might be able to help. My group of investors offer both secured and unsecured loans for personal and business loans. We utilize both traditional banking firms and private funds. Not sure what your credit rating is. Although we do work with different credit levels, credit is a factor. Sometimes we can even help you improve your credit. Contact me if you want to connect. skip724@gmail.com