can you start a business with bad credit?
my mother and i are moving to NC to start over she does not have that great of credit but she has been improving it alot and it has increased a whole lot but when we move we want to start a business but with all the money going to the move we will have none to start a business so i was wondering what type of credit she would have to have to get a business loan..she wants to take a older house or town house and fix them up and either sell them or rent them she will probably rent them we have lots of experience in renting we have lived in a rental for many years and have learned the basic over that period of time so any information would be great we can handle are own expenses i did not ask for a smart ass answer all i want is a decent answer that is going to help not a smart one so if u aint got shit to say dont say nothing at all cause ur no help
Public Comments
- my business doesnt take a loan or good credit so take a look and see what you think http://www.bradhasquin.com
- If you cannot handle your own personal finances then what makes you thinkg you can handle a business?
- Most small business people cannot get credit for their start up businesses, even if they have good credit. They usually have to find private financing or contribute their own funds. Your mother will probably have to buy the houses using her own credit. The interest rate will depend on her credit score. Assuming she can put down at least 20%, she can use that for a second mortgage to pay for the improvements. Since this all should be for a short term, the interest will not amount to much, but the closing costs could be expensive.
- depends on how fast you want to close it.....
- This is the only site I found that actually works. You get sent real checks and pay nothing to sign up. http://www.treasuretrooper.com/209298 Check it out...it's easy and you don't need to provide any credit card information or anything like that. -Steve
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