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QStarting a business and need a business loan. Not so good credit and without collateral.?

Where I can find help and Guaranteed funding for my business ? Is there help available for my criteria ?

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#1Julie HurleyAnswered at 2012-12-13 04:48:36
It is very difficult to get a home loan with no credit business or bad . It's even harder when you have no guarantee . I have also experienced situations were a person has good credit and guarantees and still qualify for a loan because the business plan was deficient . My advice would be to spend at least a year of rebuilding your credit (harder to do if you have filed bankruptcy ) . After your credit score is above, is necessary to develop a solid business plan . By strong , I mean a plan to show the lender that you have confidence in yourself and your idea. You need to demonstrate how you will make money , how you will manage the business , how you are going to spend money , so I would check with the state or local government to see if they support the creation of small businesses . In Michigan , we have a small business and technology group that provides all services free of charge to residents. Hope this helps .
#2pigeonAnswered at 2012-12-16 17:57:13
You could have someone back their business personally . They are sometimes called Angel investors . You will need to have an impressive business plan and a very reliable . You may want to start by asking friends who have money to loan, but be careful . Tons of relationships have fallen because of this type of loan . Just make sure you have everything organized so that the probability of failure is minimal .
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