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How to get a Startup/Small Business Loan if You Have a Bad Credit Rating? PowerPoint Presentation
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How to get a Startup/Small Business Loan if You Have a Bad Credit Rating? - PowerPoint PPT Presentation


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Having a bad credit will limit you from a world of opportunities. You build a bad credit record whenever you fail to repay a previous loan, or if there is considerable delay in between your payments. These mistakes add up and minimize your chances of obtaining loans in the future. A good record, however, will increase your chances of getting loan. Nobody wants to trust a defaulter with their money, and an individual with bad credit is the epitome of a defaulter.

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How to get a Startup/Small Business Loan if You Have a Bad Credit Rating?


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Presentation Transcript
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H Ho ow w t to o g ge et t a a S St ta ar rt tu up p/ /S Sm ma al ll l B Bu us si in ne es ss s L Lo oa an n i if f Y Yo ou u

H Ha av ve e a a B Ba ad d C Cr re ed di it t R Ra at ti in ng g? ?

having a bad credit will limit you from a world

Having a bad credit will limit you from a world of

opportunities. You build a bad credit record

whenever you fail to repay a previous loan, or if

there is considerable delay in between your

payments.

these mistakes add up and minimize your chances

These mistakes add up and minimize your chances of

obtaining loans in the future. A good record, however, will

increase your chances of getting loan. Nobody wants to

trust a defaulter with their money, and an individual with

bad credit is the epitome of a defaulter.

f frie rien nd ds s a an nd d f fa am mily

F Frie

rien nd ds s a an nd d F Fa am mily ily

The first place you can turn in for a loan is your friends and family. It has

been found that the funding behind most startup comes from a

combination of resources from the family and friends. Other lenders may

deny your loan due to your bad credit record. However, that’s not the case

with the people that know and trust you. If they think that this venture will

end up in a success, they will support you financially. While this is the safest

and easy way to acquire a loan, it carries a lot of risks, because failing to

repay the debt might strain the relationship between you two.

p pe er rso there are lenders who offer personal

P Pe er rso

There are lenders who offer personal loans in spite of you having

a bad credit score. However, since there is a high risk in your case,

the interest rates levied are usually quite high. You will get the

loan, but the high interest rates might prove to be a bit troubling.

Before signing the deal, make sure you read the terms and

conditions carefully. Double check their conditions and recheck

the interest rates.

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c cr ro ow wd df fu un nd din ing g crowdfunding

C Cr ro ow wd df fu un nd din ing g

Crowdfunding is becoming very famous nowadays with the help of a lot of

web portals offering such services. If people think that there is potential in

your product, chances are, they will fund it. This particular method includes

you to create a campaign and your success depends on its presentation.

You will need to make an appealing presentation of your product that will

make people love and invest in your idea. Web sites such as Kickstarter,

FundRazr, and Indiegogo are some of the websites that help you present

your ideas to the crowd and collect the capital you need from them to

make it happen.