No Credit/ Loans?

Alrighty, well lets see.
My friend doesn't have any credit at all but wants to get a loan to get help start a small business. He is not in any debt at all. He makes about 2300 a month and is wanting to know if there is anyway to get a loan in his situation. Do any banks or credit unions loan money to someone who has no credit at all?

Yeah, but it wil be harder. He should go to local credit unions and banks and look into government sponsored loans as well. He will want to be careful to make sure that he protects his personal credit from being tied directly to a small business so that if it fails his personal credit is still intact. Most local banks and credit unions will have someone who can help him shop loans.

highly doubt it

he should 'start' his credit by getting a credit card or

putting some money in the bank [and that way since he is a customer there they are more likely to give him the loan (get it after awhile; not right away)]

Have your friend go to a bank. Suggest he might want to get advice,on how to start out. Banks are hurting for reliable business. I would suggest going to a small bank,you know Mom and Pa kinda bank.