I am in desperate need of capital. My credit is shot through and through. But
i have a solid product, wonderful venue and great capacity to make 80%
profit. but the age old saying you have to spend money to make money is true.
Are there any quick programs that have a high return for a woman in business
even with my bad credit history?
JGabriel | Community Moderator |
3/7/2013 - 12:13 pm
Hi there, There are two blog posts that may be useful to you: This blog advises how women business owners can receive outside financing, and you may also be interested in this blog which provides information on how women business owners can find the help they need to start and grow their companies.
If your personal credit has challenges, you will most likely not qualify for
a credit facility / traditional loan. You may want to seeking an alternative
such as asset based lending, where you can pledge "hard" collateral in return
for short term capital. The rates for ABL facilities are much higher per
annum, however addressing your perceived ROI of 80%, it may make sense for
you in this situation. I hope this helps.
BizResearcher | Window Shopper |
3/6/2013 - 11:29 am
You may want to share your business plan with a counselor at a womens
business center, small business development center or SCORE office. Their
services are free and they can recommend how best to proceed. If you don't
need a huge amount of money, you may be able to qualify for a micro loan.
You may want to check out my thread where I tell of the story of the loan
that saved my company "life". I feel you may be able to relate. Here is the
thread for my story:
http://www.sba.gov/community/discussion-boards/loan-saved-my-company-and-my-job-or-life
JGabriel | Community Moderator | 3/7/2013 - 12:13 pm
CSDIII | Window Shopper | 3/6/2013 - 5:05 pm
If your personal credit has challenges, you will most likely not qualify for
a credit facility / traditional loan. You may want to seeking an alternative
such as asset based lending, where you can pledge "hard" collateral in return
for short term capital. The rates for ABL facilities are much higher per
annum, however addressing your perceived ROI of 80%, it may make sense for
you in this situation. I hope this helps.
Kindest Regards,
BizResearcher | Window Shopper | 3/6/2013 - 11:29 am
business center, small business development center or SCORE office. Their
services are free and they can recommend how best to proceed. If you don't
need a huge amount of money, you may be able to qualify for a micro loan.
3TMarketing Services | Window Shopper | 2/28/2013 - 2:59 pm
that saved my company "life". I feel you may be able to relate. Here is the
thread for my story:
http://www.sba.gov/community/discussion-boards/loan-saved-my-company-and-my-job-or-life
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