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Is bad credit stopping me from getting small business loan in Florida?

Nezařazené příspěvky | Dne 24-05-2015

Hello, i am planning to start a new business in Orlando, Florida. I have a couple of relevant questions regarding entrepreneurial activity in the United States. What is the average credit score to get a small business loan in FL? Are there any limitations or exceptions? Is my bad credit situation stopping me from getting a small business loan in Florida? I am not sure, what does the association called the State Small Business Credit Initiative (SSBCI) mean and what it its purpose. I only know this: this institution was designed by the federal government (of the United States) to help states strengthen existing loan and equity programs (how about business support). Is there any support for aspiring entrepreneurs?

I did a little research about SBA & SB loans in FL: If you need local support (as a beginning entrepreneur) follow South Florida District Office leadership website at sba.gov.

  • South Florida, District Office
  • 100 S. Biscayne Blvd 7th Floor
  • Miami, FL 33131
  • Phone: 305-536-5521
  • Fax: 305-536-5058
  • About Us
  • District Director: Francisco A. Marrero

The first step for me was to connect borrowers with SBA approved lenders. I am talking about banks and financial institutions associated under the SBA small business program. One from the first step is to fill in the inquiry form (answer a few simple questions about your business and about your business plan). After sending wait about 2 (working) days for a response (from the SBA office worker). Ultimately receive information on free and low-cost training options. Remember to ask for anything is a mystery for you! More informací about loans 4 small business in the United States can be found here. Do not forget your credit situation is a very important factor in the accreditation process.

Would you like to get pre-approval for small business loan (even with bad credit score) then bet on higher interest rates! Oh yes, poor or bad personal credit score = higher interest rates for business loans in Florida! Excellent credit situation means (usually) a very quick pre-approval and the lowest interest. How to repair your credit score (FICO Scores improvements) is again a different kind of question. People are Asking how can i raise my credit score 100 points in a few months? If you need to boost your credit score to get better loan conditions for small business in Florida, follow the steps above. You have to start with your credit card. Your credit balance is very important in the evaluation of a bank clerk. You have to control your purchases and keep finances under control! When credit card balances go up, credit scores go down (there is a direct correlation). Read more about how high credit card balances affect your credit score (credit.about.com).