Question by want to work from home: I am looking for a small Business loan but have bad credit. Any suggestions?
I would like an unsecured small business loan but with bad credit I am ruining into problems.
Best answer:
Answer by Henry
Any lender will require a business plan that shows that you can pay the loan back. Go to sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html for instructions on how to write a business plan.
Go to score.org and arrange for a free meeting with a SCORE counselor. They will guide you through the process.
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try prosper.com or eloan.com
Today the lenders have started offering nearly all varieties of loans for people with poor credit record.They are also introducing many new loan products meant for this group. Now people with poor credit can get the same choices as those with the good or mediocre credit. Today you can use bad credit personal loans for many purposes like car purchase, vacation or even debt consolidation.
But if you have some assets to offer as collateral, your chances brighten. The primary reason why people with poor credit history do not get loans is because the lenders are scared that the borrowers will default again. But if you can offer collateral, your lender is secure in the knowledge that his money is in safe hands. You have to try and meet the repayment schedule, failing which you lose the asset.
Source: http://pay-your-debts.com/category/Personal-Loan-With-Bad-Credit.html