Have a business idea no credit how do i get financing?

I have a solid business plan that I think would really be good in my area. Me and my wife have very poor credit so financing is the biggest worry on my plate as far as getting it all going. Im basically looking for suggestions and help. If i could get this idea off the ground it will be life changing for me and my family. Thank you

go to the BBB and beg... sometimes it works .. sometimes not...
better hurry up though.. if the dems get in office.. they will cut that budget all to hell
they dont want people to succeed

Go to http://www.score.org/ and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a SCORE counselor to review your business plan and discuss various loan options available to you.

SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).

SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.

you should try to get help from a local business enterprise setup to help people with their business plans

To be honest there's not a lot of bank's who will allow you to take out a loan of some sort unless you have high credit. I'm from the Uk and there are finance company's who provide loans to absolutely anyone the only down fall is the interest will be high!! I would recommend using a comparision site such as confused.com. You fill in one form and they email you back on the loan or finance which is right for you. I used it to find a cheap car insurance and it lowered my cost in half. Definitely worth a visit. Good luck!

in essence, what you'll do is form a company to get your business going. you need to find both the key players to make your business plan happen and the capital required to take the product/service to market.

have fun

On january 15th I wrote an entry in my blog about how to find financing for a business. The link is below.

Also the next level above SCORE are the Small bisiness Development Center's run by the SBA and major state universities. I had a counselor with an MBA and a PhD in business plus he teaches at a local business school

Establishing an image of stablity for your small business or start up business is essential. Companies where you do business, as well as lending agencies and customers will scrutinize your business profile carefully. Your business image is developed through organized administration and implementation of systems in all departments. It is also influenced by your ability to manage your finances and the strength of your business credit score.

A stable business image and strong business credit score will help you to:

increase your sales and ROI

get better interest rates and credit terms from banks and lenders

increase the likelihood of extended credit terms with suppliers

make it simpler for potential business partners to assess the risk of doing business with you

remove the possibility of risking personal assets when

applying for business financing


The text above is straight from D&B, the credit reporting agency, and should be utilized by all business owners.

Begin your search for business credit building agencies online. Search for "strong business credit" (just like that in quotes) in google or yahoo. These companies cost $1000+ to help setup the proper structure but they are very well worth it.



Good luck,



Ilya Bodner
Small Business Owner
Initial Underwriting Group