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This is a banking social website. If you can't get a loan from Bank of America, then things are not well.
I suggest working on your credit before trying to open an office.
And yet, why open an office? Continue to do it from home with the low overhead, while building your credit.
I manage currently over $20M in property, and $Millions in paid online advertising right from my home (but I have great sub-contractors, too!).
The credit is typically not the issue that is getting in the way of you obtaining a loan or growing, it is DOING that is more important. Find additional clients by referral from your current clients. Having only two puts you at risk of loosing one, and potential half your income.
NEW clients are better than a loan - just make sure there is recurring revenue!! That's the magic in small business, and so many don't figure this out sooner...
Hope that helps!
Biz Online, GREAT ANSWER
Why add expense of an office if you can work from home (almost FREE)
The overall problem is that banks want to get paid back on loans.
You are right "That's the magic in small business"
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I am a sole proprietor and have a property management company that I run from home. I have only two clients with 8 homes between them. Generally, my revenue is extremely low about $2000 to 2500 per month. My husband and I are also licensed loan originators. I would like to open a small office where we can do both. My husband's credit is shot and mine is mid 600s. Am I wasting my time w/banks trying to get a loan? I don't think that I make enough money to qualify for a loan...