I formed a corporation in August of 2008 and have been working on getting my business off the ground. I ended 2008 with a horrible $100 in total sales and about $1,500 in credit card charges. I am looking for 40-50k in operating capital to pay off my high-intrest credit card, hire a sales rep for my company, adverising, marketing, and basic business expenses.
I got a small business credit application from Bank of America but I wounder what my chances of approval are with such a bad start to my business. Last I checked my personal credit was in the low to mid 700's.
If I can get the money I feel that the ability to advertise and market my company will be a great help to get me off the ground.
Does anyone have an recommendations? Is their a grant I could apply for? Should I even bother applying for the line of credit?
