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If you are like many struggling business people in America, you are probably on the hunt for credit for business with bad credit. â€œBad creditâ€ and â€œno creditâ€ are both two of the most commonly used advertising buzzwords when it comes to marketing credit cards, and also two of the most commonly included words in internet searches. Luckily, if you know where to look you will have no difficulty finding the credit that you are looking for.
One of the first places you should consider is the Small Business Administration. The SBA is a branch of the Division of Commerce that guarantees loans for a number of different groups, including the disabled, veterans, minorities, women and a number of others. While the loans they typically offer are small, entrepreneurs always have the option of applying for multiple loans and getting a good hunk of credit for business. With bad credit, you still have a very good shot of getting an SBA loan if you look hard enough. Consult with your colleagues and find out what is best for you.
Another excellent place to look for credit opportunities is NewHorizon. NewHorizon.com offers you a wealth of credit options, categorized by type, size and credit. If your business is showing a bad credit score, NewHorizon offers excellent resources for helping fix your credit, rebuilding and exploring new options.
Still other options include P2P lending, cash advances and lines of credit. While the larger banks will not offer much credit for business with bad credit, rest assured that they are not the only option.