Small Business Loans With Bad Credit: Some Answers

Jenny asks…

small business owner needs 25,000. loan with bad credit but good collateral?

admin answers:

There are options for you – not only can you do an equity type hard money loan, but you can also consider Accounts Receivable Factoring if your company sells to other businesses. This would be more of a revolving line of credit rather than an actual small business loan.

Check out your options with a Commercial Finance Brokerage.

David asks…

Does anyone know of a lender who will lend to anyone with bad credit (unsecured) in the us?

I’m in need of a small business loan but have bad credit. Does anyone know of a lender who will lend to indiv. with bad credit (no scams and unsecured)?

admin answers:

No such animal unless you want a really high interest rate == improve your credit and than think about your small business dream!!!

Maria asks…

I Have bad credit need a small loan?

I have a car repo and two unpaid credit cards .need a small loan to help with my business .IS it possiable to get one(I have two jobs,I am paying the credit cards off)

admin answers:

The department of Small Business Administration (SBA) acts as a guarantor for these loans. These loans are provided by banks or financial institutions. Very rarely, the SBA provides the loan directly.

Along with the SBA, certain other government agencies provide financing to small businesses through loans and grants. To avail of this loan, you have to submit the business plan that you have chalked out along with your abilities to indicate that you can handle the business properly. Your credit score should be high to get the loan. The lending authorities check your credit ratings before approving your loan.

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