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Startup Funding With Bad Credit

ZippityzzzZippityzzz subscriber Posts: 2
edited April 2009 in Startup Funding
I am looking for $12,000 startup funding and my credit is not good. I have been working to clear up my credit but it is very time consuming and frustrating. Is there any other way to get funding with bad credit? I can feel my dream of starting a business fading because of this.
Does anyone know of any options beyond Prosper.com?
Thank You,

Walter
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Comments

  • Fred333Fred333 subscriber Posts: 0
    You might just have to look around and I know there are lending institutions that lend to you based on your credit card transactions. You just have to look around the net and find them.
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  • JimSprouseJimSprouse subscriber Posts: 3
    I am having a bit of the same problem so I am doing freelance logo designs at $75 each to raise the $5000 I need to start mine up.  It takes a bit of time, but I hate debt and I don`t think I`d qualify for a loan anyways.  What are some things you can do to raise funds?  What do you do for a living now?
    Jim Sprouse
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  • AutoCreditAutoCredit subscriber Posts: 0
    You might just have to look around and I know there are
    lending institutions that lend to you based on your Bad credit card
    transactions.
    http://www.autocreditsuperstore.ca/


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  • StevenSStevenS subscriber Posts: 1
    Hi Walter,
    Please do not feel bad about not being able to raise the money you need to start your business. 80% of all small business start up investments come from friends and family. Even if you had good credit wouldn`t guarantee that you would be able to get a loan from the bank.
    Now if you do not have any friends or family with that kind of money you should consider bringing in a partner. Find someone (who you get along with) who is looking to start a business like the one you are starting.
    Also, start going to entrepreneur club meetings in your area. They are usually free and you`ll be able to meet several like minded people. Also, go to real estate and chamber of commerce meetings if you can. Network with as many people as you can and soon you`ll know enough people to be able to find someone to fund your business idea or partner with you.
    It`s all about getting out there, meeting people and networking. Lots of people have lots of different resources and talent that you can tap in on but you have to know who they are.
    I hope this helps and good luck.stevens4/29/2009 7:40 PM
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