| Author |
Message |
KevinACrider
Posts: 18
Phone Model:
Samsung D357
Service Provider:
Cingular |
 
Wed May 31, 2006 5:02 pm |
I've in the process of starting my own business. The nature is a 50/50 deal, half customs shop (cars, hotrods, trucks) and half retail parts. Right now I'm working full time to come up with money for inventory, supplies, advertising, etc. I am interested in a small business loan, no more than $15,000, closer to $5,000. Unfortunately due to past events, I have crap credit. I was screwed over by a previous room mate who opened our phone, cable and internet bills all in my name without my knowledge and never paid the bills. When disputing these with the credit companies and the providers, I get nowhere. They say too bad, need to pay.
Question is, is there any organizations or special loans out there that are designed for people like me. I am not worried about high interest rates as I know if I'm approved I can have the loan paid off and be in good standing to keep the company rolling within 4 months.
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BigRUSS
Posts: 2105
Phone Model:
two cans ( del monte) and some string,
Service Provider:
RussCo |
Wed May 31, 2006 5:22 pm |
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i dont know the name but ive heard sometimes the government has money/loans available to new business owners ,
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KevinACrider
Posts: 18
Phone Model:
Samsung D357
Service Provider:
Cingular |
Wed May 31, 2006 6:10 pm |
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Everytime I look for those they are always for women and mostly for non-profit organizations or people with disabilities. Never anything for a normal guy who wants to run a business.
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BigRUSS
Posts: 2105
Phone Model:
two cans ( del monte) and some string,
Service Provider:
RussCo |
Wed May 31, 2006 6:41 pm |
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well for a small fee i can come and break both your knee caps, then you would be diabled
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KevinACrider
Posts: 18
Phone Model:
Samsung D357
Service Provider:
Cingular |
Wed May 31, 2006 6:44 pm |
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Hahaha. I'd have better luck that way.
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peryus88
Posts: 459
Service Provider:
at&t |
Wed May 31, 2006 8:21 pm |
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Hey KevinACrider. That's cool that you're trying to start up your own business. Do you plan on bringing your business online? Anyway, have you checked out federal grants? 3 my friends who have started up on their business said they went that route. I never really thought of it because I was able to save some money before I started things in motion. I was burnt out 3 years ago, but am deciding to start again from very supportive ppl. I hope that your business does well when you get it up and running. Best wishes man.
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steva11
Posts: 1687
Phone Model:
w810i/pearl
Service Provider:
Rogers |
Wed May 31, 2006 8:29 pm |
well, in canada, the government gives different grants/loans to people of a certain age eg. under 30 or stuff like that...
check this link...it seems like it might give you some good info.
http://www.sba.gov/financing/index.html
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steva11
Posts: 1687
Phone Model:
w810i/pearl
Service Provider:
Rogers |
Wed May 31, 2006 8:34 pm |
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one of the most important things is to be honest about credit history. if they ask, explain why you are not paying the debts, and the steps you have taken to have them removed from your credit.
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KungfuZombie
Posts: 192
Phone Model:
LG9800- Sweet, sweet candy.
Service Provider:
Verizon Wireless |
Thu Jun 01, 2006 6:10 pm |
Also, you can help your credit by getting a special credit card. I don't remember the name but, through my bank what you do is send a money order for the amount you want it for, minimum $300.00, and they send you the card.
Once you have it, buy something small each month, and immediately pay the card off. That way, you will have a good number of payments with no debt.
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Jadall
Posts: 389
Phone Model:
Nokia 3300,Nokia n-gage, SEt290a
Service Provider:
Cingular |
Thu Jun 01, 2006 8:01 pm |
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yeah there are ways to build credit someone always told me keep buying cheap cars you can pay off (like the 2,000$ cars etc) SOME credit cards. banks have other ways of helping people build credit with like a loan but you loan with your own money kinda things buy a cd and then you have a cc with a certifricate of deposit and just keep it payed up.
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