smokey asked in Business & FinanceCredit · 1 decade ago

need to find a loan to purchase a business. I have a good down payment, however my credit score is low due to?

my credit cards having small limits 300 - 500, and the fact that I use them every month so my balances look high. I can't use prosper, because I live in New york state, and there is a cap on the intrest rates they charge so no one will bid. Any suggestions of legitimate places to borrow money from (Hard Loans, etc.)

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  • 1 decade ago
    Favorite Answer

    If you're in dire need of a loan, www.prosper.com is a viable alternative to a standard bank. You sign up at the web site, run through a credit check, and post a request for loan funding. Regular people can offer to fund all or part of a loan. Your interest rate is lower than at a bank. And it is legal: Clark Howard's mentioned it on his radio show.

    And if nothing else, please avoid sending personal information to the people here that are offering you a loan. No actual, real banker has a Yahoo or GMail account with which they do business. They'll have an e-mail address with their bank. And they won't solicit business through Yahoo! Answers.

  • Anonymous
    1 decade ago

    If you plan to pay back the money , you can ask for a loan at your credit union or Prosper. People may help you. More information at http://www.acreditlibrary.com/prosper.html and http://luccu.org/

    You can check with the SBA for government grants, funding, but you may need to do some paperwork. From http://www.delg.org/

  • Erika
    Lv 4
    4 years ago

    To get a private loan in case you're in undesirable debt is confusing. in view which you're saying you require for increasing your organization which has been thriving, there's a scope. you may submit an intensive project record and prepare its viability to the delight of the financial establishments, to get the loan.

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