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How can you get a loan for a business with poor credit? Is there any help? |
I am interested in opening my own child care center but my credit is not so good. I don't need much. I have been in child care for 13 years. I have managed a private preschool with 195 children and I have worked as a teacher with all age groups. I have an Associates degree in Business and Early Childhood Education. I am almost finish with my Bachelors degree in Entrepenurial and Small Business Managment with a minor in Psychology. I KNOW I CAN MAKE THIS WORK! depends on how much you need. First thing you need a business plan. You might be able to get a sba loan or try to get a venture capitalist firm involved. research venture capital on yahoo search engine and a ton of firms will pop up. Business loan have high interest rate.However you credit is not so good so it might be of a high interest rate.But if you own a house then you may refi with cashout to use the money towards your business.I am a loan consultant.If you can give more details about yourself then I may be able to help you. An SBA officer could help you. A good business plan with reasonable budgets and your qualifications and certifications in child care/health services would help. poor credit loans You should inquire for funding on Local lenders or Specialty lenders. I think big banks won't be your best bet for funding your business especially when you have a credit history. |
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