My credit is fairly bad because I havent really established a long credit history so the score is not that great. Do you believe SBA or SBDC will still give the business a chance even though my credit score is low? The business is more of a franchise than just a straight new business idea, so do you think because it has had success in other venues would that help me receive the funding I`m looking for.
Since you are a student, if your mom or dad, or other family member has decent credit, they may be willing to sign for an SBA loan for you. Work out an agreement that they would be an angel investor and part of your advisory committee. If you do this though, do not assume that you can be lax because they are family. Create a full business plan to present to them to show that you are going about this professionally and it will also show them how serious you are about it and how serious that you are about getting them to invest in it. You will also need this for the loan. SBA will do an unsecured loan for up to $25,000.
How are you? I first will like to say thanks for showing interest in my business endeavor. Whatever you can do that can help me would be greatly appreciated. As you might know I am fairly new to this so I dont know how to get in touch with you via e-mail, so if its possible can you give me the email address so we can talk in greater detail