| Searching for information on bad credit business | | | | rely solely upon bootstrap financing to get our business |
| loans? Have you considered bootstrap financing? | | | | up and running. It was then that I embarked on a |
| Millions of would be entrepreneurs just like you, are | | | | journey to learn all that I could about starting a business |
| frustrated because they just can't seem to qualify for | | | | without bank loans. My quest for information and |
| traditional bank loan financing. | | | | creative solutions is what spurred me to become a |
| My Personal Journey | | | | Certified Start-up Business Consultant who specializes |
| Here's why you should avoid bad credit business loans | | | | in cost reduction strategies for new start up |
| at all cost... About 4 ½ years ago, my husband | | | | businesses. I now run three profitable businesses -- |
| and I sold off all of our assets in Ireland and moved to | | | | without owing any money to lenders. It's a great |
| Georgia to escape debt. Our company was sold off, | | | | feeling. |
| as well as our big "American style" home and most of | | | | Don't Be Tempted To Dig a Deeper Bad Credit Black |
| our assets. (We were masters at living way beyond | | | | Hole! |
| our means.) Although we netted a nice profit, we were | | | | Don't let anyone tell you that the only way that you |
| living in a credit nightmare. Since our business was | | | | can fund your start-up is to rely on bad credit business |
| seasonal (we sold educational supplies to the schools, | | | | loans -- even though you may have less than perfect |
| universities, etc.), our operating costs were fairly high. | | | | credit or don't own a home. If you are overextended, |
| Cash flow was a real concern. For almost 7 months | | | | with a mountain of debts you just can't seem to tunnel |
| of the year, our small company survived on a business | | | | your way through, there is still hope. You can achieve |
| line of credit -- essentially a BIG bank loan. Believe me | | | | your dreams of business ownership without borrowing |
| when I tell you that we had many sleepless nights and | | | | money. I have personally seen this dream come true |
| an awful lot of stress. | | | | for many of my clients. |
| After selling off everything, we moved to America and | | | | The Secret is Bootstrapping |
| started all over again. Since neither my husband nor I | | | | You just need the know-how. The secret ingredient |
| had any established credit, we did not have access to | | | | for learning how to start a new business without bank |
| traditional bank loan financing when we started our | | | | loans is to bootstrap. Before you can get started with |
| business in Georgia. After contacting a start-up | | | | bootstrap financing, you may need to make some |
| consultant, it was suggested that we apply for "bad | | | | lifestyle changes. Honestly assess where you are right |
| credit" business loans as a means of funding our new | | | | now financially, and how you got there. This is the first |
| business. | | | | step to getting out. |
| This was just not a viable option for us. We decided to | | | | |