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    6 Replies Latest reply on Apr 27, 2009 11:17 AM by money4u

    Need help w/financing and bad credit

    Stylista Newbie
      I am looking to obtain a loan for a start up business. I don't have good credit so I'm afraid I won't get a loan. Is there anyway I can get a loan with not so great personal credit? Or does anyone suggest any credit repair services that I could improve my credit? Thanks so much!
        • Re: Need help w/financing and bad credit
          LUCKIEST Guide
          Need help w/financing, Welcome

          You will need a business plan. Go to Members page and tell us more.

          Do you know about SCORE?? SCORE is FREE
          • Re: Need help w/financing and bad credit
            phanio Pioneer
            You are correct - bad personal credit will only result in many loan denials and a waste of time. Your personal credit does matter. Depending on how bad - there are a few lenders that will say yes - but only for small amounts - up to $25K - as long as all your other stuff is in good order.

            You can also improve your credit by consolidating your debt - even your unsecured or credit card debt. This helps in several ways - you get one single payment that is affordable. You free up your personal cash flow to help pay down this debt faster. It shows your other accounts in good standing or paid as agreed - which goes a long way in improving your score and lastly, it reduces your overall debt - which also improves credit scores.

            We list lots of resources regarding consolidating debt and improving credit on our website - businessmoneytoday.com - no cost to use our site - we just provide information and resources to help people like you.

            Business Money Today
            • Re: Need help w/financing and bad credit
              fastlaneputtp Newbie
              I am also in this category. Small local banks aren't much help with this situation. I have been denied due to my credit score when i upfront tell them that my past credit is terrible but recent credit is much better. I have started going through my credit information and correcting many inaccuracies that should have been removed already. I have increased my score by 12 points so far and still no success with the banks. I am just trying to provide a much needed Entertainment Center for my community and yet noone else cares. I have also tried to find angel investors with not much luck except a company wanting to charge me $329 fee just to attemtpt to find a lender. Not sure if that is a good idea or not. This is my last hope and i wish someone would help.
              • Re: Need help w/financing and bad credit
                money4u Wayfarer

                Have no fear. There is a way. what is you email address?