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how to get a business loan wih bad credit?

I'm looking for information on getting a loan to start a small business. I used to have a partner, but he has since left the business. Any information on this would be of great help. I currently have bad credit, but i do not have enough debt to be anywhere near bankruptcy. The business is a Web Development, Video production, and music production. I don't need the loan for software as we started the business, but he took all the hardware and that is where the loan comes in. anyone that has any information on this please contact me. Charles someone asked what the exact situation between me an my partner was. We were setup as two independent freelance workers. He contributed the hardware(computers, cameras) I own and purchased the software(3d applications, Web Development tools). I do have a business plan, the only problem is I won't be able to use a lot of the software I have due to my personal hardware not meeting requirements, and the make the situation worst, I'm kind of on a deadline because I do have a couple clients, but I don't want to take a deposit until I officially have all the setup working and running properly(which takes time as well). Please do no post scams, I'm not an idoit!

Public Comments

  1. I would lease the hardware you need. Apple has lease financing, so does Dell. If you can't/won't lease then buy used equipment. Financing is a total and complete rip off. Good luck!
  2. RARA is giving you a referral link. In my opinion, that pretty much proves it is a multi-level marketing gimmic. You would have to do a LOT of surveys and site reviews to make any real money doing those things. I have researched it myself. If you were partners, how did he legally just take all the hardware? I recommend legal action if you were actually business partners and he took all your equipment. Now, if he was just the guy with the camera, that is a different story. How bad is bad? Try Microloan sites... Here are a couple: http://www.kiva.org http://www.prosper.com Good luck!
  3. the brutal reality is that you will not get such a loan unless you pay a very high interest rate, have someone who will co-sign for you or you have a ton of collateral to cover such a loan.
  4. If you are individual, who has an entrepreneurial spirit, you can easily get a loan offered by the federal government. This loan allows you to start a small business. The department of Small Business Administration (SBA) acts as a guarantor for these loans. These loans are provided by banks or financial institutions. Very rarely, the SBA provides the loan directly. Along with the SBA, certain other government agencies provide financing to small businesses through loans and grants. To avail of this loan, you have to submit the business plan that you have chalked out along with your abilities to indicate that you can handle the business properly. Your credit score should be high to get the loan. The lending authorities check your credit ratings before approving your loan. http://debts-to-wealth.com/category/Government-Small-Business-Loans.html
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  6. You need a Business Loan. Here are lot of compnies are offering business loans with low Interest rate and fast approval, http://ncane.com/8h2 Best of luck
  7. Small business loan are a great financial help for small business owners. Without monetary support, a business, whether it is big or small, can not be run smoothly. With a small business loan, financing in small business is always possible. Can a borrower with bad credit score apply for a small business loan? Yes, they can. With the<!--availability of a bad credit small business loan, a bad credit borrower can also finance in his small enterprise.In the loan market, a bad credit small business loan is available both in secured and unsecured form. The secured option claims a security against the lending amount. Borrowers can use any sort of valuable object as a security. You may find the small business loan to start of your business here, http://badcredits.awardspace.com/businessloans.htm It could be commercial or personal. Oppositely, the unsecured option comes without any such requirement. This option is appropriate for those entrepreneurs who are not interested in pledging their property against any loan.A small business owner can fulfill-->various purposes with a bad credit small business loan. With this loan, they can start a new business, they can expand their present business, they can purchase some necessary equipment, they can buy a new office premises, and they can repair their present office. Even more, they can use a bad credit small business loan as business capital as well.
* Some answers may have been provided by Yahoo! Answers.