How can a person with poor credit start a business?

I work at a full-time job, and I have worked at that same job for several years. I am now in the process of researching and planning to start a business of my own, on the internet. But, my credit is less than perfect.

I am in the process of choosing a good credit counseling program, and I have started to pay back many of my debts (mostly credit cards, small personal loans). How can a person with poor credit get a grant or funds for a business start-up? Where is a good place to start? Any advice would be appreciated!

If you have an exceptional business plan with a co-signer, you may stand a chance, but first I would suggest you clean up your credit and do not get involved with a credit counseling program because it will go on your credit report. Additionally, many of these agencies are expensive. You can do this yourself. Get copies of all of your credit reports. Write letters, negotiate with your creditors and ask your creditors to remove bad credit from your account in exchange for paying off your bills. Don't be afraid to dispute errors. Be sure you do this in writing by snail mail and keep copies of everything. Letters have more clout than phone calls or emails. Start a folder so you stay organized.

You're entitled to one free credit report from each agency a year. Mind you, good credit won't happen overnight, but with time, patience and diligence, you can do it. I also suggest opening up a secured credit card to reestablish new credit. In less than one year, my credit went up over 150 points and I did this on my own. Now, I am in the 700 club but again it took time, patience and diligence.

I am now at the point where money offers are coming in for a possible new business. In less than a year, you can either have bad credit or good credit. It's up to you, but it takes work on your part. Check the links below.

Good luck.

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Hello,

You need Business Loan or Government Grants for starting small business.
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I think it depends on what type of business you are looking to start. Is it something you are building from scratch or would you be starting a home business (turnkey)?
If you are starting a home business, you could get a pre-paid credit card which would work for your business. In some cases, the pre-paid credit card also helps you to rebuild your credit, provided you use it consistently.
I think with poor credit it would be quite a challenge getting loans or grants, especially with the economy being what it is right now. Banks are very cautious about taking any risks because they have recently been burned on a lot of mortgages and businesses.
You might want to consider going the other way for now and starting something turn-key which is affordable and you can build your credit at the same time.

Tina, you don't really a whole lot of money to start an online business. There are business like e-currency exchange where you can even start with as little as $20. E-currency exchange got rated #1 home based business opportunity for 2007 and I can honestly say that it is extremely easy to make money with it. To read all the details visit
http://flawlessbusiness.com/blog/

try
http://www.orbitbusinessloans.com/
http://www.orbitmerchantsolutions.com/

http://ecommerce-times.blogspot.com

What type of business are you interested in starting? I agree with people's comments to you on here about getting a loan with poor credit will be next to the impossible. The banks consider this an insecure credit line. Harder to get then a credit card.
I think you best bet would be to start your own home based business. One that costs under $500. I have started a blog on home based business opportunities. There's half a dozen listings. If something on their is interesting, contact the person who posted.
Another option is finding someone who can co-sign or be the primary and you be the second.
It's really difficult to start business's without credit. Even people with good credit have a hard time getting loans with no collateral.
Good Luck to you!