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Old 27th July 2010, 11:56 PM   #21
caindustin9
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I am writing a business plan written for a family entertainment center, but I have horrible credit; I ruined it when I was in the Navy. There is nothing like the business I want to start around my area; the closest thing is individual places offering either laser tag, an arcade, or mini golf, and they are all at least 20 - 30 minutes away. I am wondering if there are any lenders, maybe Angel Investors, who would lend money not based on personal credit but would put more emphasis and weight on feasibility and profitability of the business. I am even willing to enter a partnership agreement in which the investor gets a percentage of ownership in the business for a certain period of time.

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Old 16th September 2010, 04:33 AM   #22
jacobbon
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Default Funding Options for Bad Credit Risks

There are some options:-

1. Look beyond credit cards and bank loans for financing.
2. Seek loans from your relatives and friends.
3. Investigate microlenders and web-based lenders.
4. Don't overlook gifts and grants.

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Old 10th October 2010, 01:57 PM   #23
Kalen
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I'd make fixing your credit a priority. It doesn't only affect getting funding but clients, partners etc. may look at it to learn about your character as well. i know one businessman who says that credit score is one of the top two things he looks at to identify character of an employee he intends to hire.

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Old 26th February 2013, 04:17 AM   #24
williamjames732
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Smile Start up loans

You can try some private organization who provides business start up loans. As you mention you have a business idea and plan are solid i think they can you give start up loans.

Best of luck!!


Last edited by williamjames732; 26th February 2013 at 04:18 AM. Reason: some words missing
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Old 26th February 2013, 09:46 AM   #25
carpetnj
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Quote:
Originally Posted by PressureProsInc View Post
Not too many. If you have a unique concept and can back it up with a business plan that outlines a company infrastucture, design, sales, and distribution channels you can find an investment capital group or firm that might be interested.
However if you don't have any connections, good luck finding an investor.

My advice is to start networking.

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Old 26th February 2013, 09:49 AM   #26
carpetnj
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Quote:
Originally Posted by Kalen View Post
I'd make fixing your credit a priority. It doesn't only affect getting funding but clients, partners etc. may look at it to learn about your character as well. i know one businessman who says that credit score is one of the top two things he looks at to identify character of an employee he intends to hire.
I would then say that businessman is a fool. Credit scores are highly inaccurate (20% of credit reports are inaccurate). Not to mention that one may have a low credit score because they pay things in cash. A low character might actually mean you have outstanding character and don't borrow money.

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