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How to Get a Small Business Loan Despite Bad Credit Ratings

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Summary: To get a small business loan despite bad credit, clear up the bad credit by making payments on-time and negotiating with the credit agencies to have the bad credit removed. Find non-traditional lenders online and through nonprofit organizations with tips from a small business owner in this free video on business loans.

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By FJ Cava
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FJ Cava has an Master's of Business Administration from San Francisco State, and he has worked with the Small Business Administration. Then, he began his own business called Bayview...read more

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Video Transcript

"Hello my name is FJ Cava and I have an MBA from San Francisco State University in entrepreneurship. I'm also owner of the Bayview Webspot here in San Francisco California. Today I'm going to talk to you about how to get a loan just by having bad credit. There are very few ways to get a loan for businesses if you do have bad credit. So the first point of advice is to clear up the credit that is bad. Pay on time, and call the credit agencies to see if you can negotiate to have those things taken off. Time is really the best way to resolve any poor credit issues. There are however, non traditional lending places that you can contact in order to find loans. What you should do is Google in your area to find out if there are any small business administration sites that can help you find where the non traditional lenders are. That way you can apply for those programs in your area. So just to reiterate, the best way to find non traditional lenders is to make sure you go online and check for the nonprofit organizations in your community that help people start small businesses. They are often times called micro enterprise or micro enterprise lenders. Good luck."

eHow Article: How to Get a Small Business Loan Despite Bad Credit Ratings

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