Bad Credit Agency

I have bad credit, can I still get loans to open a small business?

Public Comments

1. Yes.
2. I highly doubt it... The rich get richer and the poor get poorer.
3. probably not without an investor, co-signor, or both.... a loan is only as good to a bank as the signature on the dotted line... the new "company" doesn't factor into the equation..
4. if you can qualify as a minority there are programs available providing you have a business plan. You can form a C Corp, and if 51% of the officers are female(preferable over 50), Hispanic, or Afro-American, or handicapped, you can most likely get it done. Your first call should be to your local Small Business Administration. They could direct you.
5. The Small Business Administration considers 50k + to be a small business. It may be easier for you to get backers for your business from local investors (like an attorney) who know you than to get credit from a loan company. It really depends on how bad your credit is and how much collateral you have. But, where there's a will there's a way, I think. Good luck !
6. yes you can either meet someone with money and ask for a loan from them or go around and look for sponsers for your company.
7. First you have to check your equifax and fico score,all 3 credit agencies- you can remove items 7 years old-then pay your bills on time.Then apply for a secure credit card.-75-200 DOLLAR DEPOSIT.