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Micro-Loans
Finding a micro-lender in your state may be difficult but it is well worth the research. Many
micro-lenders are small and do not have websites; however, they can be great sources of
capital for entrepreneurs with bad credit. They offer flexible loan terms and report payment
history to the three major credit bureaus. Microloans typically range from $5,000 to $35,000.
Below are a few microlenders that may be able to offer loans nationwide. Microloans
Peer to Peer Lending
Peer to peer lending is not a new concept but the Internet has made it easier. This type of
lending matches borrowers directly with lenders, circumventing banks and other middle-men.
Peer to peer lending is a great alternative to traditional banks’ stringent automated credit
scoring system. With peer to peer lending, a typical loan could be funded by as many as 100
people, thereby increasing the chances your loan will get funded.
Each social lending site has specific credit criteria. Peer-to-Peer lending is becoming a viable
option to bank loans. Not only are business owners who cannot qualify for traditional loans
using this option but also established entrepreneurs are finding this financing option feasible.
Learn more about Peer to Peer Lending.
1 2 Back
Finding a micro-lender in your state may be difficult but it is well worth the research. Many
micro-lenders are small and do not have websites; however, they can be great sources of
capital for entrepreneurs with bad credit. They offer flexible loan terms and report payment
history to the three major credit bureaus. Microloans typically range from $5,000 to $35,000.
Below are a few microlenders that may be able to offer loans nationwide. Microloans
Peer to Peer Lending
Peer to peer lending is not a new concept but the Internet has made it easier. This type of
lending matches borrowers directly with lenders, circumventing banks and other middle-men.
Peer to peer lending is a great alternative to traditional banks’ stringent automated credit
scoring system. With peer to peer lending, a typical loan could be funded by as many as 100
people, thereby increasing the chances your loan will get funded.
Each social lending site has specific credit criteria. Peer-to-Peer lending is becoming a viable
option to bank loans. Not only are business owners who cannot qualify for traditional loans
using this option but also established entrepreneurs are finding this financing option feasible.
Learn more about Peer to Peer Lending.
1 2 Back
Bad Credit Business Loans: Four Sources for Getting Funding
by Lisa Phillips
page 2 of 2
by Lisa Phillips
page 2 of 2
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