Business loans, bad credit

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
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FuyuKei
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Business loans, bad credit

Post by FuyuKei »

I found the information I was looking for. Thanks.

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Last edited by FuyuKei on Tue Mar 31, 2015 9:09 am, edited 2 times in total.
bs010101
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Re: Business loans, bad credit

Post by bs010101 »

This sounds like a bad idea. How did you end up with bad credit? Do you have any money to invest in the business? Do you have any experience in electrology (since you just finished school in a different field, which BTW probably pays better)? If you can find someone who makes loans to people with bad credit, they will probably be at a high interest rate, making your business more likely to fail. I would suggest getting a job as a software developer, saving up some money, letting your credit heal, and maybe looking into doing the business in a few years.
aquifer
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Re: Business loans, bad credit

Post by aquifer »

Banks are not venture capitalists. A 100k loan with no collateral and bad credit is likely out of the question, and I doubt SBA would be interested either. You may find that there is an angel investment group in your area that you might be able to sell your idea to. Google or ask your local economic development group.
denovo
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Re: Business loans, bad credit

Post by denovo »

SBA could be your best shot.
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Post by LadyGeek »

Unfortunately, the OP has decided to remove the post content.

FuyuKei - If there's anything I can do to help, feel free to PM me.

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