Business Funding Options

Carol asks…

is there any way to get a start up business loan with horrible credit?

im looking to start a small business. it will require about 20-30k in start up funding, but i know that i’ll never be able to save that without actually having the business started, and my credit is as low as can be. i also dont have any friends or family with cash or credit to lend. what are my options?

admin answers:

Would you really loan thousands of dollars to a person with a known history of delinquent debt? You cannot be serious.

Nancy asks…

How do I get money for my business if I can’t get a loan?

I have a business in an industry in which I have a great deal of experience. I need apx 10-25k to keep things moving to the next level. Unfortunately, my personal credit was put through the mud by a former significant other, and I just cannot acquire a standard business loan from a bank. I am trying to find out more about government funds or any other options. PLEASE HELP!?

admin answers:

If you can not get a loan there is one of two reasons why bad credit or a bad venture in the type of business you have selected

And you may have a little trouble getting supplies because I don’t know now just a thought the supplier may also want to look at how the owner handles his finical life??? I have never had your situation come to my view before.

MAYBE I’d be checking into that before you even peruse your business ,,, now that is only — a — may be

And wives do a number on us men I had the same happen to me

Mine was so bad I could not even buy a pack of bubble gum with a credit card

The fix I went to my bank and spoke to a rep. There and she told me of options to get my credit in shape And how she could, do the good old make a couple of calls statement, and get back with me.

She did and waa laa I could buy that pack of bubble gum with my credit card so to say

The government is leaniant or how ever you spell it but only to a point especially on a to be open from scratch business

But keep trying
Because when a personal business has its bad times and they pass it always becomes a topic at a lunch with other prospective clients I have found out for sure and it makes a closer bonding with them and their business for me.

Sandra asks…

What better and safer to trade to build capital to start a business; CFDs, spread betting, options or stocks?

I am just wondering, I am considering starting an Internet based business but don’t have sufficient funds nor am I a programmer/desiger, so I want to pay someone to not only make my projects but to run the server management for me. I have £3,000 cash in savings, and I want to know which investment vehicle would be best out of options trading, i.e. call & puts, spread betting, CFDs or to just buy the stocks directly to raise the funds, say, £50-100k? Please help/advise. Thanks.

admin answers:

You have just £3,000 cash in savings?? Well, at least look at the bright side you don’t have debt like most UK/USA citizens. As for options, spread betting or CFDs these are all leveraged trading products and you really need some £10,000 to stand a chance to turn it into £50k-100k (and even then you would have to get a good dose of luck as turning 10k into 50k is by no means a simple feat and you will need to have a trading system which works)

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