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bjdavis
06-14-2005, 02:38 PM
I am wondering if anyone knows about any funding for a business if the owner does not have the best credit.

MarkD
06-22-2005, 05:26 AM
Previous credit history doesn't necessarily have to be a problem.

Can you post a little about your business & what you want the finance for?

owesem75
02-17-2014, 01:42 PM
This thread is old, but I thought it is still ok to share some comments just in case there are others who may have the same question. If your credit history gives you the problem and hinder your chance to get approval when applying for a loan, crowd sourcing is your next best option. Also, if you cannot find the funds, find a venture capitalist, join business clubs, and share your ideas and who knows, your business partner will come your way. There is a social-media-like platform that is going to go LIVE on March 2014 that connects aspiring entrepreneurs to entrepreneurs for sharing ideas and giving them access to capital. Please click this and watch the video and decide for yourself if you want to join: http://owesem75.neurs.net/l/en Good luck!

CSomm
02-18-2014, 10:06 PM
I agree with owesem75---you need a combination of an angel investor and some Kickstarter money. That is something you can show the bank, if you need additional funds, as proof that you have the community behind you and that your business is something that the people want and are willing to pay for. Banks salivate for this strategy, and typically are less concerned with your credit than the prospect of being behind a great new project.

delusional
02-19-2014, 07:38 AM
Whatever you do, be very careful of things you find on the internet. Chances are that they are trying to scam you. So always be careful and don't go running about because someone is telling you they want to offer you everything you need.

pahagwl
03-01-2014, 10:58 AM
If a business does not have a good credit rating, I would recommend you to look for support from venture capitalists. Venture Capitalists are people who fund startup businesses with the hope of reaping returns when the business becomes big. But the main problem is that you have got to make them believe in your idea.

dolly fsession
03-05-2014, 07:01 AM
Kindly let me know about your business so i can ask our scoopers about it and you will surly get a positive result.

DomDom
03-05-2014, 02:25 PM
If a business does not have a good credit rating, I would recommend you to look for support from venture capitalists. Venture Capitalists are people who fund startup businesses with the hope of reaping returns when the business becomes big. But the main problem is that you have got to make them believe in your idea.

And you have to grow your business really big. Its hard to work with venture capitalists when your company gets bigger.

cpefley
03-05-2014, 03:14 PM
Business credit is different from personal credit, so it might not be a problem. However, it would help to know exactly what type of business that you are trying to start. Credit may or not be an issue.

soopersonic
03-06-2014, 02:54 AM
Are there any government programs that you would be eligible for? Without knowing much about your business I'm not sure what you would be eligible for, but you can check with your local or state/provincial government offices. There are often programs available for unemployed, under-employed, or for startups that would provide an economic benefit to the region, by hiring local workers for example.

Also worth noting is that you are more likely to get investors if you have a quality plan, so get working on that business plan!

owesem75
03-06-2014, 03:09 AM
And you have to grow your business really big. Its hard to work with venture capitalists when your company gets bigger.

I very much like to read this advice. Very optimistic and yet very cautious. Thank you.

fredkawig
03-06-2014, 09:54 AM
Usually loans will solve the issue and you can even loan from your family to say the least or go to your closest friends since that can offer you help while not asking much money or interest in return. You could also try starting a very small business with what you already have and do expand.

DomDom
03-06-2014, 03:57 PM
Usually loans will solve the issue and you can even loan from your family to say the least or go to your closest friends since that can offer you help while not asking much money or interest in return. You could also try starting a very small business with what you already have and do expand.

Both options are the best things to do when starting out in my opinion. You can get far with the small fishes!

Gmac9100
03-06-2014, 06:41 PM
There is none that i know of. Unless you have a wealthy friend who is willing to do you a huge favor. Banks are not going to loan you any money at all if you have bad credit. So that only leaves you with 2 options. Sell something you own, or save up the money the old fashioned way. Which will take some time.

mikelouis
03-07-2014, 03:44 AM
It will depend with the company that will be issuing the funding. Some companies do not require credit while others require them as part of their requirements.

DomDom
03-07-2014, 03:13 PM
There is none that i know of. Unless you have a wealthy friend who is willing to do you a huge favor. Banks are not going to loan you any money at all if you have bad credit. So that only leaves you with 2 options. Sell something you own, or save up the money the old fashioned way. Which will take some time.

Everyone should really start saving from a young age. That way when the opportunity comes you will be ready to take the step.

cpefley
03-07-2014, 06:58 PM
Are there any government programs that you would be eligible for? Without knowing much about your business I'm not sure what you would be eligible for, but you can check with your local or state/provincial government offices. There are often programs available for unemployed, under-employed, or for startups that would provide an economic benefit to the region, by hiring local workers for example.

Also worth noting is that you are more likely to get investors if you have a quality plan, so get working on that business plan!

That is a good point. Sometimes the government has programs that can help start up businesses. I would check sba.gov for more information.

DomDom
03-08-2014, 01:35 PM
That is a good point. Sometimes the government has programs that can help start up businesses. I would check sba.gov for more information.

You can always try to get a business angel as well! :)

pahagwl
03-09-2014, 01:26 PM
There is none that i know of. Unless you have a wealthy friend who is willing to do you a huge favor. Banks are not going to loan you any money at all if you have bad credit. So that only leaves you with 2 options. Sell something you own, or save up the money the old fashioned way. Which will take some time.
Well, in my opinion there is one more avenue which can guarantee funding for your business venture and that avenue is of securing some amount of venture capital. Venture Capitalists are people who invest in promising business ideas. These guys generally invest with the view of earning returns some years down the line. And there is one more way for you to gather capital which would be to start a kickstarter campaign.

idlecuriosities
03-09-2014, 01:42 PM
As other people have said, it depends on what your business is. The more detail you give, the better advice you can receive. That being said you do have options including loans and appealing to venture capitalists.

DomDom
03-09-2014, 03:45 PM
As other people have said, it depends on what your business is. The more detail you give, the better advice you can receive. That being said you do have options including loans and appealing to venture capitalists.

Never forget the small fishes, they will always let you swim! ;)

difrancprod
03-09-2014, 05:49 PM
I will not suggest to ask from banks because the interest rates are going to kill you slowly. I will however just tell you to try crowd funding online. Kickstarter is a good site!

novasparker
03-09-2014, 06:28 PM
There are some really good suggestions on this thread: crowdsourcing, peer to peer lending, angel investing...these are all reallygood ways to get a loan for your business if you really need one. The bigger question is why you need the loan. It is never a good idea to put a business into debt and if you find that you have to, then you need to try to do it with as little debt as possible and pay it off quickly. Businesses that carry debt tend to get mired down in debt payments, which don't bode well when the business cycle slows. I would definitely advise you to stay away from getting a loan for a start up...think about angel investors or crowdfunding. That way the money is yours, there are no qualifications and you don't have to worry about debt repayment.

Oolooroo
04-02-2014, 03:52 PM
Hi , having been there myself and gone full circle from startup up, no credit, no funding, no experience, (hey if I did it anyone can do it) to decades later post exit, a newly formed angel. I think I can say with confidence that any unproven business model must show traction and management capabilities to raise any money regardless of source. And you're best to borrow if at all possible. The more you dilute the more of a chance that you inadvertently reduce yourself to nothing more than an employee, kind of defeating the purpose of being your own boss. BEWARE some grant - loan application processes can be predatory NEVER pay to apply. You know pay-day loan types are now getting in on... "hey we'll fund your startup" watch out some are traps. Also, ironically enough there is a lot of cash on sidelines searching for the next big thing. Lot of VC's will stream hundreds of thousands of startups through arduous processing (at your expense), only to pick a very few, great opportunity for the super stars that don't mind being diluted, up side huge potential for success. Remember though, even Steve J or Mark Z called the shots not the other way around. Think about it...do you want to call the shots or not?

My advice, get a second job or other source of your own revenue to fund first 18-24 months (average time it takes) Or if your biz is time sensitive round up the skills needed and form partnership, angels will jump into those deals on occasion. Then the BIG issue is, who is the driver? You must have a clearly defined fearless leader or it won't work everyone MUST know their roles going in, otherwise it's like trying to heard cats and will fail. Another very smart alternative and one that is often overlooked. Buy an existing business. Do not hesitate to ask the seller to finance it. I know after selling a business that was on a growth trajectory, I regret not financing myself. Instead I took the money and invested elsewhere and lost a chunk, had I financed what I knew I would have been better off.

sweetkymom
04-02-2014, 09:21 PM
Government programs are out and about to help new business owners. They even have consultants you can talk to about your business plan. I would talk my plan out before making initial plans to get it started.

Michael Thompson
09-13-2014, 04:17 AM
I think, you need to look for investors in the classified sites.

jenniferandrews39
09-15-2014, 01:34 AM
if you don't have any no idea from where you can get fund for business that search them and finding the best resource from where you can get funds at very reliable rate. First be sure that the person or any institution is very real person so that you can trust them.

KennethPaxton
09-15-2014, 01:41 AM
Funding for business is one of the biggest challenges for a entrepreneur and business man. There is having some simple and small tips which guides entrepreneur or business man about the fundraising process across all phases of business funding and about the techniques to raise the money for business.
You can adopt the below tips for funding process like:-
Bootstrapping
Take help from friends and family
Crowdfunding is also one way to collect the fund
You can find angel investors who will help you to invest in your business
You can take the bank, loan and the venture capital.

Khalil3232
09-20-2014, 10:27 AM
If you are still looking for a Business Loan or Working Capital at the best possible rate/terms click on the website below then click on funding
www.myrerate.com/Altsolutionsllc

Tom Altar
09-20-2014, 03:45 PM
i need to know more about this kind of subject

DwightDuncan
09-22-2014, 01:36 AM
Funding for small business has been steadily increasing day by day from the recent past years. A business or company must have a sufficient credit scores to have loan from banks or from any financial company, but there are many banks who are not providing capital to a business owners who are having below average credit scores.

PaulCargo
10-07-2014, 03:29 AM
There are having some great ways for funding a business, it is one of the biggest challenges for an entrepreneur and small business owner to fund for a business. There are having several ways to have fund for a business like bootstrapping, crowdfunding and angel investors.

DwightDuncan
10-11-2014, 01:23 AM
One of the biggest challenge for entrepreneurs and small business owners is funding the funds necessary for the launch and to eventually grow your business. There are having some ways through which you can collect funds for the business like approach to your friends and family if you don't have your savings or credit card. Crowdfunding is also a best idea get funds for your business.

CraigW9
10-20-2014, 05:23 PM
I am doing business with stocks2cash, they're out of NY. I am currently pay a 12% APR.. let me know if you need more info

shrinkme
10-21-2014, 08:27 PM
We started our business in the 1990's without any real credit, and we grew to full-time income in about 3 years. If you have a product that sells well and has a good margin, getting your initial revenue is all you really need to get the credit you need for expansion.

The only real reason you need credit is if you have a lot of non-cash assets. Equipment, real estate, accounts receivable, etc. Most non-cash assets can be borrowed against. Just a thought.

ByronHorton
10-31-2014, 01:14 AM
As you are willing to start a business with poor credit then you need to focus on various things to make them right like Look beyond credit cards and bank loans for financing, you have to take help from your friends and relatives as much as you can, you need to investigate microlanders.

EliteCapital
11-01-2014, 01:46 PM
No credit check and no collateral check out our BLOG we helped thousands of business! http://elitemerchantcapital.com

EliteCapital
11-02-2014, 07:27 PM
check our blog (http://elitemerchantcapital.com/index.php/component/k2/itemlist/category/2-emc-capital)

Mirabedi
11-03-2014, 01:04 AM
We can finance Small american Business message me

transasianews
11-06-2014, 04:22 AM
There are a variety of credits and deductions for individual and business taxpayers.

The Earned Income Tax Credit, and the Child and Dependent Care Credit help millions of families every year. There are also a number of credits for small and large businesses. You may have taken deductions when you prepared your annual tax return. In addition to the standard deduction for individuals, common deductions include home mortgage interest, state and local tax, and charitable contributions. Many business expenses are deductible as well.

thomasjessie345
11-07-2014, 01:46 AM
If you can give some details about which kind of business you would like to start then may be I will be able to give you a better suggestion but still you can search in internet for some sites who can give you funds to start your business.

Alleon Healthcare
11-10-2014, 03:33 PM
In today's small business finance environment, there are two lending programs for borrowers with bad credit. Cash advances, which are based on the business' cash flow, and factoring, which is based on the business' accounts receivable. Factoring tends to be a better long term solution. Cash advances are useful if you need funding very quickly, within 2-3 days.

Feel free to contact me with any questions

Alleon Healthcare Capital
Cash Flow Solutions for Healthcare Providers
201-340-6346
benr@alleoncapital.com

David T. Breen
11-15-2014, 05:05 AM
Forget about applying to banking institutions to get a financial loan for your small business.
innovative approaches to get the funds that you require.
Here are 10 ways to try:
1. Business plan competitions or other contests
2. Factoring
3. Supplier or wholesaler financing
4. Retirement accounts
5. Government grants
6. Crowdfunding
7. Peer to peer lending
8. Microfinancing
9. Business incubators
10.Barter

Terry Hopper
11-24-2014, 08:13 AM
Forget about applying to banking institutions to get a financial loan for your small business.
innovative approaches to get the funds that you require.
Here are 10 ways to try:
1. Business plan competitions or other contests
2. Factoring
3. Supplier or wholesaler financing
4. Retirement accounts
5. Government grants
6. Crowdfunding
7. Peer to peer lending
8. Microfinancing
9. Business incubators
10.Barter

Yes this is right. This is really good idea.

ssimswapzx
11-24-2014, 10:21 PM
:)
hey everyone i am new here .
so don't know more about this ......

Terry Hopper
11-25-2014, 08:29 AM
It first I want to tell you, what do you want to know from here? If you want to make some business or make some advice, you are always welcome here. I would suggest you to make some business. At first you have to notice the following...
1. Your Skill
2. Your Financial Capacity
3. Your Business Identification
4. Your Business Registration
5. Your Business plain
6. Your Business Population
7. Your Business Manpower
8. Your Business Marketing Value
9. Your Hard Work.

I think it will help you good luck.

DwightDuncan
12-06-2014, 04:15 AM
There are several ways to raise funds if you are starting your own business:
Microloans
Merchant Cash Advances
Accounts Receivables Financing (or Factoring)
Purchase Order Financing
Using a Personal Guarantor

Nityseo
07-08-2015, 07:23 AM
Businesses are turning to crowdfunding instead of bank loans to start up.

neldl1k
07-17-2015, 02:14 PM
Hello everyone! I work as partner with Dean Brooks. A Private Money Lenders He gives out loans to the public/individuals and companies worldwide with a very low rate of 0.8%. He offer out personal and business loans. Are you in debt and you need an urgent loan? Do you need a real estate loan? Do you need secured or unsecured loan? You need financing a project but do not know how to secure a loan? I think you guys should contact Dean Brooks He would fund any project that you want to embark on and offer personal loans as well to you, your firm/partners and clients. A loan process can be completed within a space of one week provided terms of loan contract is agreed upon. Contact Dean dbrooks1k@gmail.com. Good Luck.

williamhill
09-02-2015, 10:50 PM
For entrepreneurs with a lot of money saved up, the only obstacle to starting a business is coming up with a viable idea. But many aspiring business owners have the opposite problem — the idea is there, but the capital isn't.So what's a would-be small business owner to do? There are plenty of other options to help you fund your new venture
Online lending
Product presales
Friends and family
Side business
Home equity loan
Renting out your home

adamlevine
09-16-2015, 05:49 AM
guide your self to fund your business in the following five ways:
1. Boostrapping
2. Friends and Family
3. Crowdfunding
4. Angel Investors
5. Bank Loan/Venture Capital

bonddm
09-18-2015, 07:04 AM
Can you elaborate on bootstrapping crowdfunding and angel investors?

FundKite
09-21-2015, 12:54 PM
I specialize in acquisition and real estate financing and right now I am helping firms acquire capital for investments and acquisitions to alleviate the need for limited partnerships. For this and other purposes, we offer up to $2 million within 5 business days.

At FundKite, We have established ourselves as capital partners for various business brokers and acquisition companies.

The versatility of our platform enables us to create solutions in various corporate situations:

* Acquisitions
* General Refinancing
* Growth Capital
* Leveraged Buyouts
* Project Finance
* Recapitalizations
* Restructurings
* Working Capital backed by A/R, Inventory, Equipment and other Fixed Assets

ZaraLarsson
09-22-2015, 03:19 AM
Business credit is different from personal credit, so it might not be a problem but Unfortunately, if you are a startup, banks generally won’t give you a loan to finance your new business.but you can try some like :
Get A Start Up Business Loan from Friends and Family.
Raising Money from Venture Capitalists.. it will work!

FundKite
09-22-2015, 09:28 AM
Your right Zara, business credit is not the same as personal credit, but personal credit can help you be a guarantor on a Business loan that will allow you to borrow money or a larger amount of money from your Bank. the problem is that without very good business credit and personal credit combined, getting the loan necessary to finance your business is next to impossible.

now if your talking about business credit, than we are implying that your company has been around for more than a year, because that is about how much time it takes to establish business credit through all the legal channels. Now you mentioned that if your a start-up company, raising money from a venture capital firm is not always a great idea. I work with several Venture capital firms, and the main thing that they are trying to do is acquire equity before anything else. This can be in the amount of 25% or more. As a young company, giving up equity is not always good, cause now when it comes to the next round of funding (yes there will be a next round) you will have very little to offer to new investors, and the amount of money that you receive from a venture capital firm for a seed investment is never enough to cover your cost past the first year due to the risk involved with such an investment.

Now if your company can survive past the first year, it is best to get a business loan or working capital from an investment fund, the bank may still not finance you at this point, because you are still considered a start-up, but an investment fund will. They go based on the fact that you have made some money, and your still here after a year.

if you would like more information about this, send me an email at andy.t@fundkite.com or contact me at the information below.

elisagrace
12-31-2015, 02:32 AM
Hi,
If anyone wants funding for a business with bad credit, in that case, taking loan from a bank is a good choice. There are credit cards and lending programs available in Banks for individuals with bad credit rate.

Thanks!!

vera27
01-10-2016, 10:09 PM
i agree with u. of u wanna get a money for ur business, u must know all abou ur deal and to have a plan of hard work))

DinaLiving
07-09-2017, 01:04 PM
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Wwilson35
07-12-2017, 07:19 PM
I am wondering if anyone knows about any funding for a business if the owner does not have the best credit.

If you are interested in filling out an application we can get you checked to see if you qualify. Credit is not a factor.
William at Nauth Financial Services
281-310-8219

Luv of Business
07-13-2017, 03:15 PM
I am a funding consultant for small businesses, I match businesses with business grants, check out my site at luvofbusiness.com

justin788
01-01-2018, 04:13 AM
Yeah, I would talk my plan out before making initial plans to get it started.

aemmawilson119
01-02-2018, 05:50 AM
I'm already well planed and now I'm enjoying .

amyboutique
02-14-2018, 11:04 AM
try vcfindr.com ... they get you connected with angel investors that don't care about your credit, only the idea ... I tried it and it worked fine for me ...

mburns
03-01-2018, 06:47 AM
Angel investors want a piece of your business, apart from recouping their investment. Have you considered soft money? It's based upon the cash flow of your business and not primarily your personal credit score.

andrew2510
03-23-2018, 06:59 PM
Ive read in a good book that the young inexperienced man should never take a loan because he wont know the value of the money and will blow it all. Good advice in my opinion.

TonyANewhall
03-29-2018, 05:09 AM
Business credit is not quite the same as individual credit, so it won't not be an issue. In any case, it would know precisely what kind of business that you are endeavoring to begin. Credit may or not be an issue.

fillidave
05-31-2018, 05:36 PM
Even if your credit is low, there are still loan options available to you. An article that really helped me out understand small business loans is: http://b7y.us/SmallBizLoan_HOW2

ThomasJone
06-04-2018, 05:59 AM
I concur with owesem75 - you require a mix of a blessed messenger speculator and some Kickstarter cash. That is something you can demonstrate the bank, in the event that you require extra supports, as evidence that you have the group behind you and that your business is something that the general population need and will pay for. Banks salivate for this technique, and commonly are less worried about your credit than the possibility of being behind an extraordinary new task.

PaulJFields
06-12-2018, 05:56 AM
Past money related record doesn't generally should be an issue.

Would you have the capacity to post a little about your business and what you require the store for?

PaulJFields
06-12-2018, 06:00 AM
Past money related record doesn't generally should be an issue.

Would you have the capacity to post a little about your business and what you require the store for?

DanaBShield
06-12-2018, 06:14 AM
Past cash related record doesn't by and large ought to be an issue.

Would you have the ability to post a little about your business and what you require the store for?

Huskerpro
06-14-2018, 08:37 AM
Hello, my name is Brett Courtier. I am a small business loan specialist with David Allen Capital. I can help you get the funding you need for your business. We give decisions in ONE day and funding in FIVE days. We get entrepreneurs the funding they need. Message or call/text me with any questions. When you go to our website be sure to enter my agent ID #102166559.

WE FINANCE with a minimum 500 credit score. We judge cash flow over credit. Go to www.davidallencapital.com and be sure to enter my agent ID #102166559

gilberttarango
06-14-2018, 09:55 AM
My name is Gilberto Tarango and I'm a business agent with David Allen Capital. We can in most cases help your business with a non-collateral capital loan if you can meet these easy requirements: sales must be $10k/month for the last 3 months, 500+ FICO score and at least 4 months in business. You can use the funds however best helps your business. We can help you get funded within a week!! 3-24 month terms. Simple & fast online process, everything is done online!! Simply go here to get the process started. http://www.workwithgilberttarango.biz (303) 332-1691

Ed1257
11-15-2018, 11:05 AM
Might be a little late. But this company helped me. They have over 75 lenders that bid for your loan. And they accept all types of credit. They really have a deep portfolio of products. Here is more information. Hope this helps. NBC- https://bit.ly/2qOplkd -Ed

peterradcliffe
08-06-2019, 02:21 AM
try to get funding from your family or friends. I am sure they will help you otherwise take loans from a bank or private lender

Walter White1
08-06-2019, 02:44 AM
I am wondering if anyone knows about any funding for a business if the owner does not have the best credit.
canto plz briefly tell about your business so that we can collaborate accordingly