How to get financing without prior tax information?

Question

I have been trying to open an art studio and have been turned down by every bank I applied at.for lack of tax information. I am on disability and don't have to file taxes. I know that each time they check my credit it goes down. But I have 30,000 invested and all my equiptment needed. I just need the funds to get the doors open and the licencing fees.

Answer 1

The answer is at your fingertips. Have you tried searching online. There may be some who do not require past tax information and it might be worth a try.

Answer 2

I'm confused. I understand that your disability status may make it that you don't have to pay taxes, but don't you, by law, still have to file? A disability status doesn't preclude or exclude a person from still getting a job from which taxes are withheld and still need to be reported if only to reclaim those taxes that were withheld based on a disability status. So you should still have tax information to provide a financial institution for the purpose of applying for a loan.

If anything, I would suggest seeking out a finance accountant to review your financial situation in regards to opening your business and see what their recommendations are for how you can get the money that you need for your business.