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I'm looking for a small business loan $5000 range are there any sources for startups?


$5000 needed to get a start up business who is short on capital. Need to find a lender that would be willing to work with lower credit score.

If you are talking about a small business loan from financial institutions and you have low credit score, your chances are a little tight. You must have collateral and equity investments poured into your business.

You can read here the requirements of Small Business Administration for the small business loans that they guarantee http://www.sba.gov/financing/preparation...

1. Equity investment
2. Earnings Requirement
3. Working Capital
4. Collateral
5. Resource Management

Collateral can be personal and business assets such as house, receivables, stocks and bonds, furniture and fixtures, among others -- that can be sold to pay back the loan. Collateral provide banks with the assurance that they can get their money (or at least parts of it) back, even if you cannot pay. Even SBA-guaranteed loans as well as micro loan programs require some form of collateral to secure a loan.

If you do not have collateral, you will need to have a co-signer who has collateral and can pledge to cover your loan in case you default on payment.

Here is an excel spreadsheet of SBA's lending partners http://www.sba.gov/financing/lendinvest/...

With a low credit score, I don't know of any source. Maybe you can cut your costs. Can you work out of your home to save money? Can you buy less merchandise? I hope you have experience in that specific business because if you don't you will fail. Get a job working for someone in that same business so you can learn from him or her.

Try prosper.com. It is a micro-loan website where users put in money to loan to other individuals.

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