[HELP]

I have been trying to get a loan . My credit is poor, and it is making near impossible. I have applied for SBA, lines of credit, etc..... I could almost double money with this business. Last week alone, I could have made $4000 profit off $5000. Theis is becoming very frustrating and I am literally about to blow my brains out. Please does anybocy know where I can go to get a loan?

[magnate]

Hi! Try borrowing at Prosper.com. It is a legitimate online people to people lending marketplace. It works like ebay. Anyway, just check out the site for more information.

[NewBizz]

That only goes to $25,000, I need $600,000. Any other ideas ?

[jasaunders]

You could take out more than 1 loan on prosper. Other ideas are the usual:
Friends, Family and Fools
Bank
Angels
VC's

With poor credit, no collateral, and limited experience, you're pretty much limited to the first one.

[FormPay]

$600k Is a large sum, even for those with good credit, that may be very hard to obtain. Realistically you will want to look into a Angel Investor or a VC try The GoBig Network, They are sort of like prospers for business's who need alot of money.

[akula]

Originally Posted by HELP

I have been trying to get a loan . My credit is poor, and it is making near impossible. I have applied for SBA, lines of credit, etc..... I could almost double money with this business. Last week alone, I could have made $4000 profit off $5000. Theis is becoming very frustrating and I am literally about to blow my brains out. Please does anybocy know where I can go to get a loan?

shift the liability

borrow the money through a separate entity

[Kevin_ME]

There are several sources to consider when looking for financing. It is important to explore all of your options before making a decision.

Personal savings: The primary source of capital for most new businesses comes from savings and other personal resources. While credit cards are often used to finance business needs, there are usually better options available, even for very small loans.
Friends and relatives: Many entrepreneurs look to private sources such as friends and family when starting out in a business venture. Often, money is loaned interest-free or at a low interest rate, which can be beneficial when getting started.

[jayk]

if it can make that much profit, VC's will definately be interested.
alternatively, you can just bide your time and reinvest what you make..

[richkid]

if you are talking $600,000 any investor will want to see a pretty solid business plan.

[wildstormfilms]

Originally Posted by magnate

Hi! Try borrowing at Prosper.com. It is a legitimate online people to people lending marketplace. It works like ebay. Anyway, just check out the site for more information.

If he's got poor credit, he might not meet the qualifications for opening an account on Prosper. I should know, the place doesn't accept anyone below a 520 experian score.

[Woodcs82]

They do except people with credit below 520.

Its called HR Credit, and the loans are very hard to get!