where can i go to get a business loan if i have bad credit?
369691
If your credit is bad, you will need personal collateral such a home for a loan.  Many people starting out have to turn to friends and family for their first loans.  It may be that improving your credit is a necessary step you need to complete before you are ready to start a business.\n\nMost businesses fail because they run out of money, rather than losing money.  If your personal financial situation is bad your business will be starting with a big hurdle to overcome.
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
575981
Talk to the banker where you do your business checking; however due to the short time in bus., your best bet is getting as many unsecured business credit cards and operate off those credit lines.
85304
Well, more than 75% of the people throughout the country do carry bad credit and all of them get the loan from somewhere or the other so there is no reason why you can't. I'm a loan officer myself and has helped many.....give me a call if you like and i may be able to help you out.
1030826
Try the BDC (Business Development Bank of Canada).  I am not sure about their prerequisites for providing loans or assistance, but you are taxpayer, it's PAYBACK time.
173986
Check out the SBA lending programs http://www.sba.gov/financing . SBA does not provide direct loans, but rather guarantees loans availed through their partner financial institutions. You will need to satisfy the lender's requirements for the loan, as assessed by the bank, before you can get SBA guarantee. This would mean showing the bank your credit history, business plan, tax forms, financial assets, collateral. \n\nNote however that you need to pass through 3 criteria before you can avail of SBA loans, and these are: \n\n- stake in the business (SBA requires borrower to have invested 25-50%)\n- submission of a strong business plan\n- good personal credit rating
577439
Why not try to get a business loan at Prosper.com?
810407
If you have bad credit get a Eufora Credit Builder Card. \n\nYou can apply here: http://www.goeufora.com/418121496892 \n\nIts $99 for a 24 month agreement for the Elite Level. \n\nIt reports to the credit bureaus that you have an open installment loan and is excellent for your credit. \n\nKeep in mind you can only spend what you load onto it, like a debit card, but it helps your credit!
870821
If you are looking for loan and how the government can get you one, I suggest you contact the following agencies. They can advice you and point you to the right direction in seeking out small business loans:\n\nSBA New York http://www.sba.gov/ny/ \nNew York SBDC http://www.nyssbdc.org/ \n\nAlso check SCORE offices in your area in NY. They are a group of retired executives and business owners and you can get free advice from them in starting your business\n\nAlbany - Northeast SCORE http://www.scorealbany.org \nBinghamton - Greater Binghamton SCORE http://www.greaterbinghamtonscore.org \nBuffalo - Buffalo Niagara SCORE http://www.scorebuffalo.org \nGarden City - Nassau County SCORE http://www.scorelongisland.org \nKingston - Ulster SCORE http://www.scoreulster.org/ \nNew York - New York SCORE http://www.scorenyc.org \nPlattsburgh - Clinton, Franklin, Essex http://www.scoreplattsburgh.org \nPoughkeepsie - Dutchess SCORE http://www.scoredutchessny.org \nRiverhead - Eastern Suffolk http://www.easternsuffolkscore.org \nRochester - Rochester SCORE http://www.scorerochester.org \nSpring Valley - Rockland County SCORE http://www.rocklandscore.org \nStaten Island - Staten Island SCORE http://www.score476.org \nSyracuse - Syracuse SCORE http://www.syracusescore.org \nWatertown - Watertown SCORE http://northcountryguide.com/slc-chamber/score/ \nWellsville - Chautauqua Region SCORE http://www.scoresouthwestny.org/ \nWhite Plains - Westchester SCORE http://www.scorewestchester.com
510626
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.htm )\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.
30136
i am in the same boat as you. far as i can tell right now you have to go and pay all the bills that got you bad credit and then go and like finance something or get a contract cell phone or get a small loan. something to build the credit back up. but that is all i can figure right now.
609005
i work for a financial institution and i dont believe you can get a loan on your own if you are bankrupt. you would need someone with great credit to co sign with you and i bet it would have a high interest rate
212358
Building business credit is not a quick process - it takes time, normally around 3-4 years. Other than paying a company to do it for you, here are some ways you can build a business credit fast:\n\n1. Register your phone in your business name\n2. Get a business checking account\n3. Register with DUN & BRADSTREET and get your DUNS Number\n4. Find vendors who can give you lines of credit (start with Staples or DELL)\n5. Apply for a business credit card - giving your business EIN instead of your SSN\n\nI recommend reading the article "Building Business Credit" at http://www.powerhomebiz.com/vol146/credit.htm
454863
Only way you could hope for a loan is from family. You really need to get your credit back on track and keep it that way. Get a credit card or something that will allow you a small monthly payment and keep it up and that way your credit gets back up. Although I know with your bad credit right now most lenders will not want to loan to you and you may be able to find a credit card company that will..Good Luck Nicky
909207
You stand a greater chance of getting a government-guaranteed loan through the Small Business Administration http://www.sba.gov/financing than a government grant. Read the SBA Financing page to learn about criteria needed for borrowing \n\nIt 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.\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\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\nHere is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business -- THERE'S NONE.\nhttp://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show\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\nI suggest you read the following books to get ideas of how to finance your business:\n\nFinancing Your Small Business  http://www.amazon.com/exec/obidos/ASIN/1572484500/powerhomebizguid\nSmall Business Financing: How and Where To Get It http://www.amazon.com/exec/obidos/ASIN/0808007386/powerhomebizguid\nFinancing the Small Business: A Complete Guide to Obtaining Bank Loans and All Other Types of Financing http://www.amazon.com/exec/obidos/ASIN/1580626815/powerhomebizguid\nThe SBA Loan Book http://www.amazon.com/exec/obidos/ASIN/158062202X/powerhomebizguid\nAngel Capital : How to Raise Early-Stage Private Equity Financing http://www.amazon.com/exec/obidos/ASIN/0471690635/powerhomebizguid\nFinancing Your Small Business (Barron's Business Library Series) http://www.amazon.com/exec/obidos/ASIN/0764124897/powerhomebizguid\n\nFor private grants, you may want to check the Foundation Center's Foundation Grants for Individuals Online http://gtionline.fdncenter.org  . 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.
742910
It is possible to acquire property with bad credit.  Contact your local lender and see what kinds of programs they have for people in your situation.  The only drawback for having bad credit is that the interest rate will be higher than normal.
198265
Small Business Association.. and try federal grants - since you are minorities.. your odds of getting a grant or loan is higher.. especially since you have a solid business plan