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I Need A Small Business Loan If you are a business owner in search of a small business loan, but your credit is less than perfect, you may feel that you don't have a lot of options. You may Florida (I- Newswire) May 17, 2012 - If you are a business owner in search of a small business loan, but your credit is less than perfect, you may feel that you don't have a lot of options. You may even feel your chances are less than none if you are trying to start a new business with bad credit. But there are options - even with bad credit. You may find that, if you look around, you have more cash on hand than you think. Your personal savings, retirement accounts, or even loans from friends and family can be used to start your own business or invest in what you already have. However, if you have bad credit already, it's a fairly safe bet you don't have a lot of cash in reserve. So you will need to find alternatives. More than 80 percent of all business loan applications are denied, according to some statistics. But this isn't due to the business owner's bad credit in at least half the cases. Most banks and other traditional lenders will look at several factors when considering a loan application. If you have bad credit but still need a small business loan, the first thing you should do is get a copy of your own personal credit report. Review it carefully, to be sure there are no errors and that there are no items that need to be fixed and/ or removed. It is important that you review your credit report and that you are familiar with what's on it because any lender you try to do business with will look at your personal credit report. Depending on the lender and the type of small business loan you are applying for, you will need at least a score of 660, or your application will never make it past the initial stages. Your next step would be to work to improve your credit score. The first thing you will want to do is work on getting your monthly budget under control. This is important because if you can't pay your bills on time on a regular basis, it will impact your credit score greatly, and decrease your chances of getting the business loan you are seeking. You may even wish to sign up with a credit monitoring service, which will not only keep an eye on your credit for you, but will also give you access to your credit score and what you can do to improve it. In the meantime, if you need to get your hands on a small business loan right away, you have a few options: a loan from family or friends, peer- to- peer lending, crowd funding, and unsecured loans.

Additional Resources About America One Unsecured: American One Unsecured has been helping consumers achieve their goals since 1999. A national loan- consulting firm, America One Unsecured assesses all the available loan options and provides their clients with comprehensive strategies to help them acquire unsecured personal loans, small business loans and small business startup loans. Visit http:// to learn more about how they helped their clients receive millions of dollars in loans in 2009, and find out what they can do to help you. Company Contact Information: America One Unsecured Published in: Home and Family Tags: loans    business loans    small business loan    business finance     Published on: May 17, 2012 Original Source: I Need A Small Business Loan

I Need A Small Business Loan