how do i go about finding information on real goverment loans for people with bad credit to start a businness?

Answer 1

Government will not give you loans to start a business if you have bad credit. Actually, the government (SBA) does not give out loans but they merely guarantees the loans. Banks such as Bank of America will give the loan.

So normal criteria will apply -- and that includes good personal credit history. If you have a bad credit history, SBA will not approve your loan application

From the Basic Requirements page of SBA, they will look at
http://www.sba.gov/services/financialassistance/eligibility/requirements/index.html

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Personal financial statements from you and your business partners listing all personal assets, liabilities and monthly payments, as well as your personal tax returns for the past three years.
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With bad credit, it is not going to be easy to get a loan whether from commercial banks or SBA

Answer 2

the final propose i can provide. Is it is all approximately self assurance. Does your boyfriend have self assurance that his enterprise plan will artwork? Do you have self assurance that he has a solid theory and there's a industry eagerly looking forward to his service or product? If the respond is absolute to those 2 questions then it is ordinary it is not in case you have the money you may desire to be sure who has. There are consistently investors, i do no longer understand why you elect considered one of those intense quantity to commence yet once you have an in intensity enterprise plan mapped needless to say and precise approximately how lots is mandatory to commence and how lots revenue may be won and how long it is going to take to work out a earnings over that 20,000. Your on Yahoo do a seek. If i'm no longer unsuitable, Charles Schwab in simple terms did there budget for 2008 and that they have got approximately 17 million money to invest in the best enterprise suggestions. Levis Straus has lots money they are tring to furnish it away. huge companies like the two i discussed stay to furnish, so they do no longer could pay as lots taxes on the Billions they rake in, and if your enterprise flops guess what it somewhat is a write off.

Answer 3

To be honest you probably shouldn't be starting a business if you've got bad credit.

To run a business you've got to be able to manage money and given that the main cause of bad credit is an inability to manage money which includes such things as paying back money that is borrowed and paying bills on time as well as ensuring that your earnings exceed your expenses.

If you can't do things like that in your personal life what makes you think you'll be able to handle them in a business?

Answer 4

http://www.sba.gov/