T
TwoStepLLC
Guest
the small business association? I don't have great credit, however I did establish business credit with dun and bradstreet. Does anyone know of a small ? amount loan I could find? Not using personal credit.
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Does anyone know a way to finance the opening of a small business besides
nope.......
i've been in the same boat. You CAN'T get credit cards, loans, lines of credit, etc without a personal guarantee if you're a new company. You pretty much have to co-mingle.
if you're a sole proprietor then there's no reason for you to ask this question because you -are- the business. You need to be at least an LLC before you can -not- co-mingle the business.
No one will extend credit to an llc or corp until it has a years worth of credit history, and even then it's typically not much.
You can't even GET a credit card without having them run your personal credit. it's part of some BS that Dubya passed to "help fight terrorism" they want to "make sure you're who you say you are" before they give your company credit because you could be funding ben ladin or something like that.....
it's rather annoying.. Like i said, i'm in the exact same boat. If my LLC had $10,000, we could quadruple that amount literally in 2 months and would be well on our way! but without that money, it's going to take us 6 to 8 months to get to the same place, and... expenses are the same no matter how much we bring in.
well.... The only thing i've been able to find is peer to peer lending like prosper.com . basically, you ask for a loan, and normal every day people give you money (basically) .
You need at least a 640 credit score though, and you may or may not get much. I finally submitted my request yesterday, it hasn't posted, so i have no idea how it's going to turn out. I asked for 25,000 expecting that i may get 10.
you should look into that. aside from borrowing from friends thats about the ONLY thing i've found. and.. hell.. none of my friends will loan me money either. lol
i wish you luck. i really do
i've been in the same boat. You CAN'T get credit cards, loans, lines of credit, etc without a personal guarantee if you're a new company. You pretty much have to co-mingle.
if you're a sole proprietor then there's no reason for you to ask this question because you -are- the business. You need to be at least an LLC before you can -not- co-mingle the business.
No one will extend credit to an llc or corp until it has a years worth of credit history, and even then it's typically not much.
You can't even GET a credit card without having them run your personal credit. it's part of some BS that Dubya passed to "help fight terrorism" they want to "make sure you're who you say you are" before they give your company credit because you could be funding ben ladin or something like that.....
it's rather annoying.. Like i said, i'm in the exact same boat. If my LLC had $10,000, we could quadruple that amount literally in 2 months and would be well on our way! but without that money, it's going to take us 6 to 8 months to get to the same place, and... expenses are the same no matter how much we bring in.
well.... The only thing i've been able to find is peer to peer lending like prosper.com . basically, you ask for a loan, and normal every day people give you money (basically) .
You need at least a 640 credit score though, and you may or may not get much. I finally submitted my request yesterday, it hasn't posted, so i have no idea how it's going to turn out. I asked for 25,000 expecting that i may get 10.
you should look into that. aside from borrowing from friends thats about the ONLY thing i've found. and.. hell.. none of my friends will loan me money either. lol
i wish you luck. i really do
First off, after reading your question, maybe you should go back to school for your education. Second of all, you mention, your credit is not too good. WHY? People like myself are also going to be hesitant about loaning you any money as well. The last comment for your question. It takes an average of 5 years to get on your feet and get the business to show a possible profit and continuation. Perhaps your solution is to work for someone, if "WORK" does not affect you mentally. Good luck!!