I want to start a day care center but I have bad credit.  How can I get a loan?
349851
The first step is to prepare a business plan. Even if you will not be applying for a bank loan, a business plan helps you to think through your business - what it needs, who it will benefit, how much it will cost, and what is its potential. It is easier to think of how much money you will need, if you actually know how much money you will need. A business plan can help you plan that out.\n\nHere are free business plans on childcare business that you may want to look into:\n\nhttp://www.sba.gov/library/pubs/mp-30.doc\nhttp://www.misbtdc.org/documents/BPWORKBK.pdf\nhttp://www.misbtdc.org/documents/CDCPLAN.pdf\nhttp://sbdcnet.utsa.edu/sbic/bplans.htm \n\nYou may want to read the free article "How To Start Your Own Day Care Center" http://www.powerhomebiz.com/vol40/daycare.htm It covers various aspects of starting and running a daycare center including the demand for daycare centers, how to start this business, shoestring strategies, how to operate a daycare center, tips on caring for the children, income potential, how to manage your daycare, marketing your business and other additional income potential. There are so many things to learn about the business that the first step is to read everything you can find.\n\nFor in-depth information, I suggest checking out the following books:\n\n- Start and Run a Profitable Home Day Care \n- The Daycare Provider's Workbook \n- Start Your Own At-Home Child Care Business \n- So You Want to Open a Profitable Child Care Center : \nEverything You Need to Know to Plan, Organize and Implement a Successful Program \n\nIt is also important that you learn the tax rules affecting daycare centers, especially if you are going to open one from your home. Here is the IRS page on child care centers: http://www.irs.gov/businesses/small/industries/content/0,,id=99878,00.html\n\nAs for the licenses and requirements in your state, the Administration for Children and Families provide a state by state listing of contacts for licensing and regulations governing child care businesses:\nhttp://www.nccic.org/statedata/dirs/regoffic.html\n\nAs for the finances you need, bad credit may make it difficult for you to get loans. You may find a tough time getting a loan from financial institutions with poor credit, even from SBA. SBA requires a number of factors to avail of their loans, and one of them is good credit history (see SBA Basic requirements http://www.sba.gov/financing/preparation\n\nIf you cannot get loans, try to get a loan from your parents, family and friends. If they cannot give you any, use your credit card. Credit card requires no collaterals but are an expensive source of funds. \n\nOtherwise, either downscale your plans and amount of capital needed; or wait until your financial situation improves.
62803
Do you have a bank that you have any accounts in?  if you do they may be willing to make you a small loan.  Everyone has to start somewhere.   (how can anyone ever get a loan if they didn't have credit?  think about it... Everyone had to have a "first" loan - it's from that point that you will establish if you are trust/creditworthy or not) so don't blow it.  Pay that loan when you do get it. \n\nIf you don't have a bank account - you may need to have a family member co-sign  the loan for you.  You need to be sure to pay the loan off on time and you will be on your way to building a great credit for your future.
213903
Your in luck, we are a direct lender and also broker.  I have done many loans for people that have bad credit.  The normal banks you walk into will turn you down for any reason they want. I have lenders that look at other factors besides your credit.  Contact me at www.xclusivefinancial.com
300997
You may want to read more about this business and start preparing your own plan. Here are free business plans on childcare business that you may want to read:\n\nhttp://www.sba.gov/library/pubs/mp-30.doc\nhttp://www.misbtdc.org/documents/BPWORKBK.pdf\nhttp://www.misbtdc.org/documents/CDCPLAN.pdf\nhttp://sbdcnet.utsa.edu/sbic/bplans.htm \n\nYou may want to read the free article "How To Start Your Own Day Care Center" http://www.powerhomebiz.com/vol40/daycare.htm  It covers various aspects of starting and running a daycare center including the demand for daycare centers, how to start this business, shoestring strategies, how to operate a daycare center, tips on caring for the children, income potential, how to manage your daycare, marketing your business and other additional income potential. There are so many things to learn about the business that the first step is to read everything you can find.\n\nFor in-depth information, I suggest checking out the following books:\n\n- Start and Run a Profitable Home Day Care \n- The Daycare Provider's Workbook \n- Start Your Own At-Home Child Care Business \n- So You Want to Open a Profitable Child Care Center : \nEverything You Need to Know to Plan, Organize and Implement a Successful Program \n\nIt is also important that you learn the tax rules affecting daycare centers, especially if you are going to open one from your home. Here is the IRS page on child care centers: http://www.irs.gov/businesses/small/industries/content/0,,id=99878,00.html\n\nFor licensing requirements in Michigan, contact this agency:\n\nChild Day Care Licensing\nFamily Independence Agency \nOffice of Children and Adult Licensing \n7109 W. Saginaw, 2nd Floor \nP.O. Box 30650 \nLansing, MI 48909-8150 \nPhone: 517-335-6124 or 866-685-0006\nFax: 517-335-6121 \nWeb site: http://www.Michigan.gov/fia
572656
Here is another resource:\n\nwww.naca.com\n\nThey are a non-profit housing advocacy group. They do their own financing, will work with you to get your credit back on track and they also work with banks.  They do fixed rate loans.  Check them out.  If you have bad credit your terms with a lender aren't going to be that great.  NACA isn't about profit, they are about getting people into houses.  They got their money by taking on Fleet Bank for predatory lending and they won.  Now they use that money to help others get into homes.  Good luck!
424038
Try a bank first - a local bank, credit union. \n\nThen consider places like beneficial finance.\n\nMake sure they are legitimate places to obtain a loan - at reasonable terms.\n\nGood luck\n\nPS: on my website, I have a link to bankrate - here you can research places to get loans as well as local rates.
503885
try Prosper.com.  If you meet a minimum credit score criteria you should be able to get a small loan with a decent interest rate and low payments
683616
Go to DFAX [Family & Children Services] in Atlanta and request a list of the private home daycares and day care centers in the area you are interested in. \n\nYou didn't say for what you want the info - so I am assuming you are looking to start one yourself? If so - DFAX will have a lot of info for you, including the requirements you will need to meet in order to qualify to operate one. \n\nMake some phone calls [classifieds + DFAX list] and visit some day care providers to see what works for them and what does not. I can give you more hints if you are looking to run one yourself - simply contact me privately as I don't want to bore you with info if its not needed.\n\nIf you are writing an article or doing some bona fide research - start making phone calls, but be honest enough to tell the providers what you are doing and why you are calling them. DayCare Homes have certain busy busy times - when chitchatting on the phone is a nono - and some down times when they will have time to talk. Be sure to ask if it is convenient or if you may call back.
618550
Have you tried the SBLA?  That is the Small Business Loan Association.  I do not know the web address.  Also, try your local bank.  If you have collateral and good credit, I am positive that they will work with you.\n\nGood Luck!
589825
home loan: www.naca.com  \n\nthey are a non-profit housing advocacy group and they will work with you to improve your credit.
737763
Try Lending Tree I understand they have various  banks to choose from to make loans for all types of credit.
472934
You can get a loan from your credit card. Ask for a cash advance. However, use it only for an emergency because it charges very high rates.
441566
Ya, just call a credit card company. They'll give you credit as long as you're not currently in bankruptcy. You may have a high interest rate and/or a low limit, but it's credit.\n\nhttp://www.creditcards.com/
636067
It is hard to find grants to start a business. The most you can probably get is something like $500 for some toys or materials for your daycare from the state, but you need to prove that those materials are essential. Other than that, there's nothing.\n\nUnlike 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.\n\nNonetheless, 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.\n\nGo to CFDA.gov --> search by Beneficiary --> Choose among the dropdown the type of beneficiary that you may qualify (e.g. small business, women, minorities). And you will find NONE for starting a childcare business.\n\nEven 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.\n\nEven SBA does NOT give out grants. From the SBA website http://www.sba.gov/expanding/grants.html \n\n"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."\n\nMost 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 \n\nGrants 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 \n\nFor 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.\n\nI suggest you start out by preparing your business plan so you can determine how much money you would need and other details of your business. Here are free business plans on childcare business:\n\nhttp://www.sba.gov/library/pubs/mp-30.doc\nhttp://www.misbtdc.org/documents/BPWORKBK.pdf\nhttp://www.misbtdc.org/documents/CDCPLAN.pdf\nhttp://sbdcnet.utsa.edu/sbic/bplans.htm \n\nYou may want to read the free article "How To Start Your Own Day Care Center" http://www.powerhomebiz.com/vol40/daycare.htm \n\nIt covers various aspects of starting and running a daycare center including the demand for daycare centers, how to start this business, shoestring strategies, how to operate a daycare center, tips on caring for the children, income potential, how to manage your daycare, marketing your business and other additional income potential. There are so many things to learn about the business that the first step is to read everything you can find.\n\nFor in-depth inf
1004029
yes, you can get financing.  The costs involved, the interest rate, and the terms would need to be carefully investigated.  Be careful, there are lots of people out there who prey on the credit challenged.  You DO have choices.  Call me at 1-800 971-4638 extension 223, I'll try and steer you in the right direction.  I've been a mortgage lender for more than 20 years.  I just got a woman with a 577 credit score a FNMA loan.  So it is possible.
1008747
Depending on the information contained in your work and credit history, many banks,credit card and finnancing companies will consider  special or non-traditional applications.\nThere are goverment agencies that can provide loan gaurantees for small business or education.\nYou can consider going to family and friends. If you can secure even a portion of the needed amount it may help you if and when you approach a lending institution.\nYou may also consider asking your employer.\nRemember that there are special government loan programs for person's with disabilities who wish to start a small business.\nFinally, professional associations, alumni associations, social service clubs are all potential loan sources for members.
1169436
In New Jersey, you contact this department for starting a daycare:\n\nNew Jersey Department of Human Services\nOffice of Licensing \nQuakerbridge Plaza, Building 6\nP.O. Box 717 \nTrenton, NJ 08625-0717 \nPhone: 609-292-1018 \nFax: 609-292-6976 \nHotline: 877-667-9845 \nWeb site: http://www.state.nj.us/humanservices/dyfs/licensing.html \n\nThe first step is to prepare a business plan. Even if you will not be applying for a bank loan, a business plan helps you to think through your business - what it needs, who it will benefit, how much it will cost, and what is its potential. Here are free business plans on childcare business that you may want to look into:\n\nhttp://www.sba.gov/library/pubs/mp-30.doc\nhttp://www.misbtdc.org/documents/BPWORKBK.pdf\nhttp://www.misbtdc.org/documents/CDCPLAN.pdf\nhttp://sbdcnet.utsa.edu/sbic/bplans.htm \n\nYou may want to read the free article "How To Start Your Own Day Care Center" http://www.powerhomebiz.com/vol40/daycare.htm It covers various aspects of starting and running a daycare center including the demand for daycare centers, how to start this business, shoestring strategies, how to operate a daycare center, tips on caring for the children, income potential, how to manage your daycare, marketing your business and other additional income potential. There are so many things to learn about the business that the first step is to read everything you can find.\n\nFor in-depth information, I suggest checking out the following books:\n\n- Start and Run a Profitable Home Day Care \n- The Daycare Provider's Workbook \n- Start Your Own At-Home Child Care Business \n- So You Want to Open a Profitable Child Care Center : \nEverything You Need to Know to Plan, Organize and Implement a Successful Program \n\nIt is also important that you learn the tax rules affecting daycare centers, especially if you are going to open one from your home. Here is the IRS page on child care centers: http://www.irs.gov/businesses/small/industries/content/0,,id=99878,00.html\n\nAs for the licenses and requirements in your state, the Administration for Children and Families provide a state by state listing of contacts for licensing and regulations governing child care businesses:\nhttp://www.nccic.org/statedata/dirs/regoffic.html