Bad Credit Agency

how can I get a small business loan if I have bad personal credit?

Public Comments

1. You can't. Even if you co-sign, if your credit is pretty bad, no one will give you a loan. You can always get it in someone else's name, but that's risky for the other party.
2. You can;t. I know an attorney that is cheap that get all neagtives off your credit report fast in any state and she does corporate credit also. No disputes, she just serves the bureaus and they concede and wipe out all bad credit. Any credit attorney can do this.
3. Try American Express Small Business. I had lousy credit and they gave me a gold credit card. why, I have no idea.
4. Easy. You don't. Your personal credit must be stellar to obtain a business loan. The lender thinks if you can't handle your personal debt, how are you going to enter the business arena.
5. Well im only 14 so i dont know anything about credit but haven't you seen that comercial with the bank and the little guy running around? Maybe you could ask them.
6. If your business has been around for at least two years and you can show income and assets in your business you may not need to qualify personally. There are also what are called "no doc" loans which are available for many reasons outside of the normal lending arena. While SBA loans for capital general start at $250,000 some of these privately funded loans can go down to as low as $5000 or less. Try searching for "no doc small business loans" on Yahoo or another search engine. You may also check with your local Real Estate Investor's Association or the National Real Estate Investor's Association as they often know of lenders in your area. If you are in my area I may be able to help as well. Also try your local banker as they may have someone they can refer you to or your local Chamber of Commerce who may have a member.
7. Having bad credit limits your options to only "business credit" based loans. If you do not have any business credit google or search by yahoo "strong business credit" (just like that in quotes) for companies that can help you build a business credit profile. Expect to pay around a thousand dollars for the services. If you do have business credit then it is just a matter of finding an underwriting or brokering company that can set you up with a lender. There are many options available for that as well, alternative (sometimes called "creative") financing is available through Initial Underwriting Group (which we work for) or may other companies on the internet. Good luck, Ilya Bodner Small Business Owner Initial Underwriting Group