I want to start my own business but I can't get credit because I am over extended. How can I get money?

I have about a 70% debt to income ratio so I am having a hard time finding the funds I need to start my business. What can I do?

Not to be rude, but if your finances are that bad off, are you sure you understand money well enough to run a business? If you have a hard time getting lenders to loan you money, you may want to pause a moment and consider that they may be judging your ability to pay correctly.

Get a business partner with the money and let them own more of the busines than you do.

You're a high risk, and you will pay a high premium if you are able to get funding - which makes it even harder for you to succeed.

I have a list of work @ home opportunities that is tried and true, These companies are not scams!!!!!!! I have done several years of research. If you would like this list please email me.

You can build your business credit. This involves you forming a corporation or LLC. Then you need to build your paydex score. This will allow you to get credit from places like Staples, Office Max, Best Buy, Dell, etc. This process will take four months. For help, you can go to www.access-business-credit.com

You could also bring in a "credit partner" that is not overextended. This person would sign as a personal guarantor for your lines of credit. You can go to major banks, and ask for a business line of credit and business credit card. Obtaining 10-35K per bank will be an easily achievable goal.

Try some of the non conventional routes

New social phenomenon, social lending. Here is how it works. You sign up at the website. Post your small business need amount and give a description. Others view your posted profile and loan request then make offers or extend you small loans on and individual basis. Lets say you need $10,000. You may receive loans ranging from $25 to thousands per individual. This greatly reduces the risk to the lenders and provides a solution for you as a borrower.

Some sources.

www.LendingGround.com

www.Prosper.com

www.CircleLending.com

A new report released by Javelin Strategy & Research closely examines the recent growth of person-to-person lending (P2P) and reveals its primary users, their motivations and the potential impact on banks. Javelin predicts that the demand for person-to-person lending services to pay off credit card debt may grow from $38 billion to $159 billion over the next five years.