{"id":14628,"date":"2021-03-12T05:25:12","date_gmt":"2021-03-12T05:25:12","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=14628"},"modified":"2021-03-12T05:31:07","modified_gmt":"2021-03-12T05:31:07","slug":"how-to-start-a-business-when-you-have-bad-credit","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/how-to-start-a-business-when-you-have-bad-credit\/","title":{"rendered":"How to Start a Business When You Have Bad Credit"},"content":{"rendered":"
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Starting a business is both the easiest thing to do and the hardest thing to do. You don\u2019t need a special education or special equipment to do it. You can start a business for very little money depending on the business. You can start some businesses without any regulatory red tape. Other businesses require a room full of well-paid attorneys just to get you started.<\/span><\/p>\n A lot depends on how big of a business you want to start. You can start an online business where you sell goods and services without needing to handle any inventory. You can do it right from your kitchen table and start taking orders in a few hours. You can start a neighborhood restaurant with a handful of employees which will take considerably more time. Or you could start something like an<\/span> interior design<\/span><\/a> business where you are the sole proprietor.<\/span><\/p>\n Regardless of what type and size business you want to start, money is likely going to be the limiting factor. If you don\u2019t have enough of it, you are going to need some type of loan to get you started. That will be difficult to pull off with bad credit. But you still have a few options to consider. Before doing anything, work on raising your credit score.<\/span><\/p>\n One of the easiest ways to deal with that mountain of debt that is holding you back is to get a debt consolidation loan. That brings together your high-interest credit card debt into a single loan at a significantly lower interest rate. Use a<\/span> credit card debt calculator<\/span><\/a> to see how much you are paying in debt service versus how much you can save with the right consolidation loan. The savings, alone, can get you cashflow positive without changing anything else. That pocketed cash could be all you need to get started in a few months.<\/span><\/p>\n The other positive benefit of a consolidation loan is it can immediately raise your credit score. You will have fewer creditors and a lower bill to pay. Check your credit score regularly to see the changes. That way, you will have a better idea of your chances of getting the next loan.<\/span><\/p>\nDebt Consolidation<\/b><\/h2>\n
Start Small<\/b><\/h2>\n