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Funding Options for Bad Credit Risks


You are only as bad a risk as you think you are. If you have had an accident or an illness and you are fighting your way back into the good credit arena, make sure you explain that, when you begin searching for funding options for your business. They may feel that you are a bad credit risk and you need to correct them and inform them that you are prepared to impress them with a bright future.

Here are some options for you to look into as you seek the funds for your business:

• Start with the friends and family. Although no one is very happy to be asking someone they love for money, it just might be the miracle that you are looking for.

• Studies show that credit cards are only 25% of the funding used to get new businesses started. That leaves a whopping 75% of other options for you to look into.

• Micro lenders and web-based lenders are strongly working their way into people’s lives. They are loaning $5,000 to $25,000 and they are a great resource for those that are at risk for being denied by traditional loans. Be careful and pay attention to their interest rates.

• Merchant account cash advances are a good start. With 1% to 9% of your daily debit and credit card sales being used as repayment, it helps to get you started where you otherwise would not be able to.

In the meantime

Attack your credit and with great gusto begin cleaning it up. Hunt down everyone that you owe money to and get them paid. Make payment arrangements with the larger amounts and work diligently to cleanse what has gone awry.

You have a lot of work ahead of you and since things went wrong to get you in this trouble, now you have an uphill battle, to clean up the credit score. Wouldn’t it be nice if they never invented the credit score? And we all still did business with a handshake?

Merchant account cash advance

A lot of the merchant cash advances do not work with your credit score. They prefer to see how your sales have been with your credit and debit sales. If you have a strong business and your sales are great, then you have a wonderful chance of getting the help that you need.


You can always go looking for a grant that will help your business as well as your community. If you have a service that will assist in the greater good of your community, then you should be able to find one.

But know this, grants are not easy to find and even harder to get.

Don’t give up

The help you seek is out there. You will just have to spend the time locating it. Don’t give up, it may just be around the corner. If it’s not, you can always use that overpriced credit card. At the very least it will help with something. Good luck.