what about me???

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what about me???

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notrim

posts: 2

Dec 06, 2007 2:29 AM ET Quote Report Abuse

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Engraver

posts: 178

Dec 06, 2007 4:41 AM ET Quote Report Abuse

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My credit is bad, my wife`s credit is mediocre, I was still able to get an SBA loan with no collateral and no direct monitary investment on my part.

Its all about the presentation. I went through three banks before Chase wanted to work with me. I also had spent 6 months developing a rock solid business plan and was willing to put up everything my wife and I owned for collateral.

SBA will only fund you when you have a bank willing to put their name on the line and say that they have faith enough to back your business.

CraigL

posts: 9051

Dec 06, 2007 10:29 PM ET Quote Report Abuse

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When we visited with SCORE we got a referral card to a bank that does high-risk loans. Maybe that`s changed, though, with the looming crisis in the credit markets.

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what about me???

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