One of the more common concerns I have from entrepreneurs is if they have bad credit whether they can get a small business loan. A bad credit history does not always mean it really is impractical to secure a company loan. But, the choices available while the price of money are a lot more than for somebody who has credit that is good.
The main element is once you understand where you can look. You likely won’t be able to secure a small business loan from a large bank if you own a small firm and have been in operation for less than three years and have a credit score of below 650. (more…)