I need a quick loan to pay off start up debt and expand. I own a busy deli, but due to husband's past medical bills, have poor personal credit. I need $150,000. Can you offer any information on how I can get a loan?
You may find it difficult to obtain a bank loan if your credit record is poor. If you are able to obtain financing, your interest rate may be higher than it would be if your credit were better.
Contact your bank's commercial lenders to lay out your request, and to determine whether there might be a way that the bank can help you. You may have to put expansion plans on hold for a while.
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You may find it difficult to obtain a bank loan if your credit record is poor. If you are able to obtain financing, your interest rate may be higher than it would be if your credit were better.