Bad Credit Agency

Does Anyone Know Where Someone With Bad Credit Can Get A Small Buisness Loan Or Grant?

im a Tattooist looking to open my own shop and since im not working right now my funds are zero, i am looking for somewhere that will do a small business startup loan or grant for someone with bad credit. divorce does that to you ya know lol! and PLEASE dont say Matthew Leskos book! oh ya i live in Northwest ohio!

Public Comments

1. Citifinancial may eat you alive with interest, but they are usually willing to give you money, especially if you have a business plan.
2. First there is no such thing as a business GRANT! That is a myth. You can go to SBA.com, small business association. To find out about the myth of free goverment grant go to MBDA.com. Also go to Fed.gov. Make sure it is the "goverment 's" web site. There are alot of fake ones just to get your money.
3. sba.com
4. If you have bad credit, it will be hard for you to get a small business loan either from regular banks or loans guaranteed by the Small Business Administration. In the SBA page on "What Will I Need to be Considered for SBA Loan Assistance?" they will require your personal financial statements to show your personal credit history http://www.sba.gov/financing/preparation/requirements.html • Personal financial statements from you and your business partners listing all personal assets, liabilities and monthly payments, as well as your personal tax returns for the past three years. You may also want to read "CREDIT FACTORS A POTENTIAL BORROWER SHOULD KNOW" http://www.sba.gov/financing/preparation/qualify.html As for grants, it is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business. And yes, grants mean PAPERWORK - lots and lots of it, that is why a cottage industry of grant writers was born. Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture. Even if you buy books on "how to get grants" or list that supposedly has information on grants -- all of them are mere rehash of what CFDA has, albeit packaged differently. But still the info is the same - hardly any grants for starting a for profit business. Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/expanding/grants.html... "The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments." Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business -- THERE'S NONE. http://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs For private grants, you may want to check the Foundation Center's Foundation Grants for Individuals Online. It's a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for "students, artists, academic researchers, libraries and financial aid offices." Entrepreneurs are apparently not one of them, so I take it they also don't have listings of private foundations who give grants to would-be entrepreneurs.
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