Seed funding for bad credit Business Owner with great business plan

Joe11231Joe11231 Posts: 1subscriber Member
Hi, I'm a business owner with a great business plan on hand. Due to personal reasons I had destroyed my credit some years ago. This business is finally something that will make it big! Proven concept yet unique model. 
Where can I find seed funding for someone in my situation?

Answers

  • Ryan O'BlenessRyan O'Bleness Birmingham, Mich. Posts: 985administrator Site Admin
    edited November 2017
    @Joe11231, if you truly have a great business plan, strong passion and a proven concept, you may want to seek out angel investors. Traditionally, angels are more about the entrepreneur and passion and truly want to help startups. They may not be as concerned with poor credit like a bank or venture capitalist would be and would likely be your best option. But it won't be handed to you. 
    Ryan O'Bleness
    Community Manager
    StartupNation, LLC
  • McCandlessMcCandless Boca RatonPosts: 52subscriber Bronze Level Member
    I would join a small banking institution with no more than a couple of branches. Then I would attempt to transfer all existing loans. At this point, get to know the the staff and especially the President of the bank. Should take a few months. Once established, land a sizable contract with a client. If capital is needed, they will give you a loan based on loyalty. Of course, you'll lose a few points but this can definitely get you off of your feet. Just know the second you borrow money from a bank you lose. Personally I would fix my credit and bootstrap.
  • vcfindrvcfindr LondonPosts: 2subscriber Member
    you should try to get funding from angel investors, crowdfunding or online platforms.
  • saravanansaravanan Posts: 389subscriber Silver Level Member
    Seed funding is the money needed to take a company which has achieved its ‘proof of concept’ or its product ready for launch. Seed funding is typically used to launch the product in multiple cities or to launch new product features. 
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