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    12 Replies Latest reply on Apr 27, 2009 12:54 PM by fundme

    having trouble getting loan

    egarceau76 Newbie
      i tried to get a loan but was told not enough credit
        • Re: having trouble getting loan
          Trojan2424 Newbie
          are you looking for start up capital or additional working capital?
          • Re: having trouble getting loan
            Marks Funding Newbie
            I am familar with and can provide you with information on merchant cash advances as well as alternative funding sources. I do this for many people in many different business categories b/c there are moany new business owners who are not aware of alternative funding sources.(other than banks)
            • Re: having trouble getting loan
              Altloan Newbie
              Sorry to see that. I know of alternative ways that might work out for you. mailto:vjm93@hotmail.com
              • Re: having trouble getting loan
                score81 Adventurer

                There are three area need special attention when having problem in getting Loan:

                 

                  1. Personal Credit: If you have problem on personal credit like following
                    1. Not enough credit history
                    2. Credit Score Low called ( FICO)
                    3. Bad Credit SCORE because of bankcruptcy etc
                    4. Bad Credit Score for late payments.
                    5. Any other reason
                  2. Personal Income is not enough to qualify for the lone.
                  3. Bank does not think the property qualifies for loan and too risky to give loan.
                • Solution to all these problem are as follows:
                  • Ask ne of your realtive to cosign for you on the loan document.
                  • Ask the family to loan you money for higher down paymet.
                  • In case property is risky, ask seller to finnace you at decent rate.

                I hope it helps you to get through it.

                • Re: having trouble getting loan
                  WEBillions Adventurer
                  Try an asset-based lender. You should be aware that the interest rate will be a little higher than an SBA loan, because they are more likely to loan to what they consider higher risk customers. To compensate, they will charge you more. But, at least it's an option. Good luck.
                  • Re: having trouble getting loan
                    LUCKIEST Guide
                    76, There have been 6 answers to your question of having troule getting a loan and NO more info from you.
                    Tell us more. The more you share, the better we can help you succeed.
                    LUCKIEST
                    • Re: having trouble getting loan
                      LUCKIEST Guide
                      Tell us more. Tell us about yourself, Why you want a loan?? Why not enough credit??
                      Personal?? Business?? Do you have a house, own real estate??
                      The more you share, the better we can help you.
                      LUCKIEST
                        • Re: having trouble getting loan
                          brainbag Wayfarer
                          Hi Lucky,
                          My background is in the entertainment industry.I do not need the loan now.I just want to know the details in case i might need it in future.Am still @ the embryo stage of developing my online website.That is why am here looking for help from the community.I have great ideas that i want to put onthe worldwide web.But i do not know how to go about it.I'm here to know how much it will cost me to build this website that am talking about without my ideas being stolen.Also how to get great group of people to work with on this idea because it will require alots of hardworking people in different cities working for one goal.Which is success.Since i do not have much money i would love to know how i can get people to work for me and believing in this dream together.I'm suggesting maybe i should go into contractual agreement with them.Because am very confident that if we start right within 6 months we will start reaping our rewards.

                          That is y am looking for a professional web designer,graphic artist and a very good public relation person.

                           

                          I hope i can find help here?

                           

                          rgds,

                           

                          Samson.
                        • Re: having trouble getting loan
                          MaxAdvance Wayfarer

                          Hello,

                          My name is Solly and I am a financial consultant at a company called MaxAdvance in New York City. We are currently helping several small businesses with our cash advance program. What we do is offer unsecured loans to be used for whatever you desire without collecting collateral. We won't take compounding interest; just one set factored rate which means you can take as long as you need to pay it back without any penalties. CREDIT IS NOT AN ISSUE WITH US. All you need is a credit card terminal at your business as a source of incoming payment, which we would use to collect the payback by taking a small percentage of future transactions. Funds can be transferred in as little as a week. Please feel free to contact me at any time at 1-866-629-4464 Ext:238.

                          Take care and good luck,

                          Solly Mizrahi
                          MaxAdvance
                          smizrahi@maxadvance.com
                          • Re: having trouble getting loan
                            Pandemonium Newbie
                            I am very very new to business. I was working quite a while until i got very ill (cancer) and couldnt work anymore, and as a result couldnt pay bills. Credit card bills mainly. I started a business so i could work from home and have some kind of income. However I need some money to start up. I was told i wont get a loan because of my low credit score. When i had an income i was never late with payments, and had a really good score. I have a mortage, which has always been paid ontime no matter what.

                            Any ideas on how to get a loan or what to do?

                            Thanks
                            • Re: having trouble getting loan
                              fundme Wayfarer
                              I would like to help you out. what do you need a loan for? and what's your business?