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How do I get micro loan in the USto fund IM venture?

by theinfomaven
5 replies
Howdy,

Thread title. How can one apply for a small business loan or line of credit, even with a rocky personal credit history?

I'm talking a tiny, tiny loan here that doesn't require collateral.

Anywhere from $100-$1,000.

I'm in the U.S. so that rules kiva out.

Looking to fund a new IM venture. Thanks!
#fund #loan #micro #usto #venture
  • Profile picture of the author ShayB
    Are you due to get a tax refund?

    You might be able to find some local banks who will do a small loan.
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  • Profile picture of the author d.noland
    You might look into peer-to-peer lending sites like prosper.com or 40billion.com or something like unitedprosperity.org.

    Not sure exactly what you are looking for or what your situation is, but it may be worth a shot.

    Good luck.
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  • Profile picture of the author theinfomaven
    This is a good start, What do banks look for with such a loan request?
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  • Profile picture of the author LB
    Credit card?

    Seriously though, if your credit is shot it will be difficult.

    I also worry that if you are so tapped for cash that you need a loan to cover a sum so small that you will very quickly find yourself in over your head.

    It would be a much better idea to think of a way to earn that amount...do you have any skills? Can you write articles, create graphics, etc?

    If nothing else, go to a temp agency and do some menial work for a few days to raise capital. you could also look for some stuff to ebay.

    I'm not trying to beat you up...I started with nothing and now run a 7-figure business so it can be done.

    But if you need a loan for $100 in the US...the only thing missing is a little bit of hard work.
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