Bad Credit Agency

how can i get a small business loan with bad credit and no bank account,i already have a business plantogether

i have the web site already up and running i could do so much more with a loan of 10,000 to 25,000 dollars.a short term loan like 90 to 180 days

Public Comments

1. Approach the Small Business Administration. The first thing they ask for is a business plan, so you already have that covered. I owned a business at one time and they were a tremendous help in my endeavors. And the best thing about it is---ITS FREE!!!
2. You won't be able to get a small business loan from the government SBA program or from a bank. A bank requires decent credit and a bank account. But you could try friends and relatives for money.
3. SBA or any bank will not lend without at least a decent credit and a 100% collateral. SBA does not lend money, but guarantees the loan for the lending banks. However, they are usually asking for 100% collateral. For that amount of money, you can try your family or friends, or use your credit card of Home equity. It will be a tough sell with poor credit, but if your idea is good, they might go for it. Good luck.
4. If you cannot manage your own personal finances what makes you think you can manage a business? I suggest you to increase your credit score first.