How to obtain a business loan with bad credit?

[Sim]

I am 27. I am in the process of writing my business proposal. How would I go about getting roughly a 10k business loan when my personal credit is shot. I destroyed my credit 6years ago.

Let me also say, that my business is a related to a type of business niche that exceeded over 11B last year.

 

[mhdoc]

I suspect family and/or friends will be your only possible source. These days even really strong businesses can't get financing.

 

[renek]

Will be dificult Sim,
You should ask yourself if you really need the 10k. In general you will probably have to pay a much higher interest if you manage to find something. Take this into account in your feasability study.

 

[rkrone]

have you looked into micro lending sites? such as lendingclub . com

 

[misterman88]

I am 27. I am in the process of writing my business proposal. How would I go about getting roughly a 10k business loan when my personal credit is shot. I destroyed my credit 6years ago.

Let me also say, that my business is a related to a type of business niche that exceeded over 11B last year.

find out if you have a rich relative somewhere that you've never met or get a home equity loan if you have a house or convince a "really good friend" with great credit to get the loan in their name and give it to you in exchange for giving them a percentage of the profits<---kind of like in that facebook movie