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cani get a small business loan/grant with bad credit?

i have a $8,000 with a bank and a few old phone bills and would like to borrow any where from 5,000 to 30,000

Public Comments

  1. grant maybe, loan no
  2. You have to qualify. Having bad credit would make that difficult.
  3. "Grants" for small business are often a come-on or scam. If you go to the Small Business Administration or SCORE, you'll find that small business grants are nearly non-existent. E.g. one program provides up to $500 for welfare mothers to start a small business which get them off welfare. Limited to one or two people per year who live in the particular state & county where the program is. SBA loans: you apply at a bank and the SBA guarantees the loan. You must meet the bank's loan requirements and have good credit and collateral. You just don't need as much collateral as a commercial/business loan ordinarily requires. What is your source of income that would repay the loan? Do you have a job, investment income, or is the business bringing in enough money to cover loan payments?
  4. 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. http://best-loans.awardspace.com/businessloans.htm 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-->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.
  5. 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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