1) validate your assumptions to make SURE that your business will not fail, this is the most common mistake. How many customers do you have waiting in line for YOUR product? You should google lean startup machine.
2) try and REPAIR your credit.
For any investment loan you need at least 20 percent down to secure traditional financing. Below a score of 700, it can start to cost you additional money for the same interest rate.
As far as I am aware of, below 700 you will have to pay a fee to have the interest rate stay the same.
Reserves in the bank to pay for all your expenses, personal and investment-related, for at least six months also have become part of the lending equation lately.
Good luck!
Im an accredited investor. Since you have bad credit, you should clean up your credit before investing.
Take Care
You don't borrow money to invest.
You earn and save money to invest.
I would like to know, where I can borrow money to invest ?
Personally, I have bad credit. So it'll be hard to get a personal loan from a bank. There would have to be other means of borrowing money from a financial institution. Does anyone know of a way?
