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I may be able to help. Please email me so I may offer some solutions.
SBOCTeam at Jan 16, 2009 9:22 AM+
your profile! Giving some background about yourself helps other
Community members when trying to answer your small business questions.
Its a quick and easy way to promote your business too. Complete your
Without good to excellent personal credit, you are probably out of luck. Think about taking on a partner that can compensate for your weaknesses in securing credit.
Regarding equipment: there are equipment leasing companies that will fund start-ups and only require credit scores around 630 - 640. These are expensive. But, can usually get you the equipment you need. Further, some of these companies will also provide working capital business loans in addition to the equipment lease. But, these lines do require higher credit rating.
That is exactly our line of business, to help companies like you qualify. Visit www.businessformationgroup.com/newsletter for more info and give us a call.
Best of luck.
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I have been developping a brilliant business idea in the advertising industry but more precisely in the new media technology. i have completed a business plan and been turned down by a local bank and SBA mainly because of my personal credit. the funds i am seeking should not exceed 100k where 50 to 60% of it needs to go to equipment purchase. Any suggestions? i know my next hope will be in meeting an angel investor but many of those don't like to invest in companies that are start ups; they rather prefer companies in stage 1 or 2. any suggestions are greatly appreciated.