Starting a business almost always requires a substantial sum of money from the person attempting to get a business off the ground – money that many would-be business owners just don’t have. Sources such as family and friends can lead to disappointment due the their lack of excitement in the new business venture.
Potential business owners then often turn to “their” bank thinking that it can’t wait to jump in and fund their new business venture. Many future business owners might have poor or even bad credit when deciding to start their new business ventures – credit that their bank just might not find inviting when reviewing the loan application for the new business.
Well unfortunately, traditional lenders do have very stringent lending standards when lending to a new business, primarily due to the fact that so many businesses fail in the first several years and many lenders in the past have gone down with the ship with the business owner when the business failed. So naturally, lenders are very careful in what business they lend on and who they lend to.
Potential business owners can look to lending sources that don’t require the same stringent lending standards that the big banks do when lending money, lenders that will lend to business owners with poor to bad credit or have had a business failure in the past. Bad credit loan Los Angeles.
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