getting a business loan without any credit or bad credit possible?

business loan
techtwonicz asked:


I have fresh credit and a credit card that has nearly 1k to be paid off. I need to get a loan to open a business, about 6k. Is this possible and where is this possible?

3 Responses to “getting a business loan without any credit or bad credit possible?”

  1. googie - August 14th, 2007

    I doubt very much if any lending institution will lend money without some collateral especially if you are starting a new business. Most would ask for personal information, the assets you own, cosigners on the loan etc. banks are notorious for wanting to lend you money when you don’t need it .

  2. Martine - August 17th, 2007

    Small business loan are a great financial help for small business owners. Without monetary support, a business, whether it is big or small, can not be run smoothly. With a small business loanit could be commercial or personal. Oppositely, the unsecured option comes without any such requirement. This option is appropriate for those entrepreneurs who are not interested in pledging their property against any loan.

  3. jan d - August 19th, 2007

    If you are individual, who has an entrepreneurial spirit, you can easily get a loan offered by the federal government. This loan allows you to start a small business. The department of Small Business Administration (SBA) acts as a guarantor for these loans. These loans are provided by banks or financial institutions. Very rarely, the SBA provides the loan directly.

    Along with the SBA, certain other government agencies provide financing to small businesses through loans and grants. To avail of this loan, you have to submit the business plan that you have chalked out along with your abilities to indicate that you can handle the business properly.