HELP!!! I have a great opportunity stirring How can I get a loan if I have fair credit?

I have not so good credit and I need to get money to buy a business. Where do I start? Do I have a chance?

HELP!!! I have a great opportunity stirring How can I get a loan if I have fair credit?
A lot will depend on what "not so good" really is, how much is needed to purchase the business, your experience. In other words there is a lot of variables. It is possible, although you may have to settle for acquiring a loan from a financial institution (not a bank) and pay a higher interest rate. This is not necessarily a bad thing because after you get it going you can always refinance with conventional means.
Reply:Relax, just visit the high street bank and call up top loan companies and explain your business idea to them.


If it's good enough, they might give you a business loan.





Do not whatever happens get money off a loan shark. I seen it happen before, not a nice story.
Reply:The traditional way is to go to your local bank or credit union and request a loan application. You may be presented with roadblocks. They may want a business plan and other supporting documents.





The SBA is a great source of funds for established businesses.





But I think you're talking about starting something up, maybe something that's not as formal as a true "business."





That said, your sources for funding have never been better. You could go the route of many aspiring entrepreneurs: Use your credit cards.





But I think there's a better way, something that is relatively new and is open to ventures such as yours: Peer-to-peer loans, like Prosper.com. They match lenders and borrowers. Lenders in essence compete for your business.





You pay over 3 years at a fixed interest rate. The standard loan procedures are followed and you pay only one party.





P2P lending is revolutionizing lending.
Reply:No lender will talk to you unless you provide them with a valid business plan. Go to http://www.sba.gov , http://www.score.org or http://www.bplan.com for sample business plans and instructions on how to write a business plan.





Then, 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.