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14 Replies Last post: Jan 14, 2009 9:58 AM by funds2924

Getting working capital with bad credit

Oct 18, 2008 11:04 PM

Click to view alehart's profile Mogul alehart 36 posts since
Jul 3, 2008
How do you go about getting a credit line or a legitimate investor when your personal credit is bad but you have a business plan and a valuation plus have been in business for 4 years?
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Click to view affiliatesun's profile Mogul affiliatesun 44 posts since
Sep 2, 2008
1. Re: Getting working capital with bad credit Oct 19, 2008 3:11 AM
Alehart,

The cash advance service I work for, Advanced Merchant Capital doesn't look at credit. Bad credit is OK.

Contact me and I will give you the scoop on our service and see if we can help you out!

Cody
absolutegreatness@gmail.com
Click to view NoBullFunding's profile Mogul NoBullFunding 278 posts since
Oct 6, 2008
2. Re: Getting working capital with bad credit Oct 19, 2008 7:52 AM

When you say you have bad credit, can you quantify that? Depending on what factors are hurting your score, you can do things to remedy it. Many borrowers just accept that they have bad credit and try to find quick fixes, but in reality your score is constantly changing. This means that if you do the right things, like clean up your debt, repay obligations on time, and manage your personal finances wisely, your score will improve.

Sometimes the best solutions take time. Working to improve your credit falls into that category, but once you get there you will glad you did. Oh, and beware of credit repair services who tell you they can have bad things removed. The only legal way to have something removed is if they are inaccurate. If you need help with your credit report, that's part of what I do for my customers.
Click to view lfreeman's profile Mogul lfreeman 35 posts since
Oct 20, 2008
3. Re: Getting working capital with bad credit Oct 21, 2008 5:26 PM
If you are still looking for funding call me. I am a private investor. (904)707-0226
Click to view alehart's profile Mogul alehart 36 posts since
Jul 3, 2008
4. Re: Getting working capital with bad credit Oct 21, 2008 6:37 PM
in response to: lfreeman
Can I ask what kind of terms and such you are seeking?
Click to view GrowthCurve's profile Mogul GrowthCurve 152 posts since
Jan 25, 2008
5. Re: Getting working capital with bad credit Oct 21, 2008 7:08 PM
in response to: alehart
Let me ask you a difficult question.

Why is your business successful, yet your personal finances are less so?
Click to view alehart's profile Mogul alehart 36 posts since
Jul 3, 2008
6. Re: Getting working capital with bad credit Oct 21, 2008 7:33 PM
in response to: lfreeman
Because I used all my personal money to finance the business and then was scammed out of thousands by a supposed investment broker.
Click to view GrowthCurve's profile Mogul GrowthCurve 152 posts since
Jan 25, 2008
7. Re: Getting working capital with bad credit Oct 21, 2008 7:35 PM
in response to: alehart
OK, fair enough.

So...how much do you need? What for, specifically?

For how long?

What kind of business are we talking about?

Did you say you had a valuation done? Why was it valued? How? On the basis of the investment being made?
Click to view alehart's profile Mogul alehart 36 posts since
Jul 3, 2008
8. Re: Getting working capital with bad credit Oct 21, 2008 7:40 PM
in response to: lfreeman
I need about $50,000 at least for working capital. I am in the food manufacturing business. We have several large clients but can't meet demands without some capital infusion. I have a business plan that outlines the whole thing but to get us where we need to be to make some money we need the amount I listed. I feel we can pay it back in 24 months to 30 months. I am open to equity in the company as well to get some capital and we do have a business valuation as well. We have been in business for over 4 years and now we have run out of our own funds due to the scams.
Click to view alehart's profile Mogul alehart 36 posts since
Jul 3, 2008
9. Re: Getting working capital with bad credit Oct 21, 2008 7:43 PM
in response to: GrowthCurve
The valuation was made without the investment being made sorry I left that out. The company that did the valuation did it on the premise of investing but they decided not investing due to what they felt was the upcoming collapse of the stock market which they were right.
Click to view GrowthCurve's profile Mogul GrowthCurve 152 posts since
Jan 25, 2008
10. Re: Getting working capital with bad credit Oct 21, 2008 8:44 PM
in response to: alehart

I am afraid to say that I think your valuation was part of another scam, assuming you paid to have it done.

An investor in a private food manufacturer -- an investor who belives in the business, and more importantly, the business' management -- is not going to walk away from an opportunity because of anything to do with the stock market.

Did you pay for this supposed valuation? What was the number?
Click to view alehart's profile Mogul alehart 36 posts since
Jul 3, 2008
11. Re: Getting working capital with bad credit Oct 21, 2008 8:58 PM
in response to: lfreeman
I agree with you 100%. I paid $1700 to get it done. Another bad move. Just looking for someone legitimate who wants to make some money.
Click to view alehart's profile Mogul alehart 36 posts since
Jul 3, 2008
12. Re: Getting working capital with bad credit Oct 23, 2008 7:33 AM
in response to: lfreeman
I called the number you gave and noone answered. I am from A & I Sauces that started this forum. If you are truly interested please email me at aandisauces@columbus.rr.com and I have a valuation and business plan and can provide my duns number and tax ein number so you can verify we are who we say we are.
Click to view alehart's profile Mogul alehart 36 posts since
Jul 3, 2008
13. Re: Getting working capital with bad credit Jan 13, 2009 10:31 PM
in response to: funds29
I am sure there will be some type of catch like up front cash, credit issues or income restraints. I have encountered it all
Click to view funds2924's profile Mogul funds2924 36 posts since
Jan 14, 2009
14. Re: Getting working capital with bad credit Jan 14, 2009 11:12 AM
I can understand your doubt call me at 229-292-1144. Tony let me access your situation