post Category: how to start a home business — admin @ 11:16 pm — post Comments (7)

I think I have found a nice company to start my home business with, and I need about $2500 to put up. My credit score are not great and I want to get a business loan, Any one got some sound suggestions I can use?

freecreditreport.com

You sign up for a month, and get Experian's report. You can pay for the other 2 agencies, as well.

But… after you get what you want, you have to call and cancel your membership or they will charge you $12/mo.

Also, all 3 agencies can snail-mail you a copy of your report one time for free.

Horaayy..there are 7 comment(s) for me so far ;)

#1

freecreditreport.com

You sign up for a month, and get Experian's report. You can pay for the other 2 agencies, as well.

But… after you get what you want, you have to call and cancel your membership or they will charge you $12/mo.

Also, all 3 agencies can snail-mail you a copy of your report one time for free.
References :

Mazz wrote on June 9, 2009 - 4:47 am
#2

For that small amount, I would request a personal loan and not a business loan. For business loans you need a lot of information, business plan, etc. and its very hard to get one.
You can either just go and apply to the bank and they will more than likely tell you what your credit score is once they pull the report.
If you want to check out your report prior to applying which is probably a good idea to make sure there is nothing that shouldnt be there, you can request a copy of your credit report from http://www.equifax.com or http://www.transunion.com. I think you are entitled to 1 free report a year, but you can still pay for another copy if youve already used your free one.
Just make sure whatever business you are going into, that you arent getting scammed. If the $2,500 is to start up yourself for licenses and such thats fine, but please dont go paying some "opportunity" that much money to get started.
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floridasun5 wrote on June 9, 2009 - 5:28 am
#3

Credit cards…..that's a possibility. Have you even tried getting a loan? Nothing ventured nothing gained. We have very high credit scores and even at that, getting business loans is tough. Most of our loans were personal loans. We have gotten business loans but they are small in comparison to what we were asking for. Until a business has some time under it's belt it's tough to get loans. We were unable to get a SBA loan through Wells Fargo because the business hadn't been established for long enough yet. On the other hand, Wells Fargo turned around right away and offered us a business line of credit of $20,000. And that was under the business name, not our credit. It doesn't hurt to go in and make application. It will help though to have the business established or at least have a very comprehensive business plan.
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jkc wrote on June 9, 2009 - 6:01 am
#4

I guess my question would be why would you pay that amount in the first place to have a Home Business.

Do your own homework, there are lots of legit opportunities out there that are free to become involved in or very low startup costs.

One of my businesses is free to join, the other is $49.

If you would like more information email me m2c_canada@hotmail.com

Wanda
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Wanda wrote on June 9, 2009 - 6:11 am
#5

I agree with all previous answers….
Be very carefull "putting up" money, do your home work, 2500 is alot of money. I would advise against it, unless you are certain of the credibilty of the company, and these days its very difficult to truely verify credibility. And if they gave you refrences keep in mind no one will give you a refrence that will voice negative feedback.
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lightningnstars wrote on June 9, 2009 - 7:00 am
#6

That is way to much money to start a home business. You stand a chance at losing any of that money. Try something that you can get started at for under $50. I have done very well with a company called Scent-Sations.

We have created a website that gives detailed information about the business and how to get started. We recommend that you visit http://www.MiaBellasBusiness.com and watch the video. Be sure to fill out the form and we will email you all the information you will need to determine if this business is for you.

Jeff
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Jeffrey P wrote on June 9, 2009 - 7:10 am
#7

The credit rating is used by the lender or investor to assess the risk of lending or investing money to the individual or the business.Credit ratings are usually calculated using the financial history of the person and also current assets and liabilities.Want more information???plz check

http://www.acreditlibrary.com/creditrating.html
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ram k wrote on June 9, 2009 - 7:42 am
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