How Do You Get A Business Loan After Bankruptcy?
Hundreds of years ago debtors were sent to prison for failure to pay debts. Now, while you won’t have your freedom taken away from you, you may have to file for bankruptcy, which can feel like financial handcuffs. The secret is in the mindset. Entrepreneurship requires creativity in your business idea, marketing and funding. The less money you have, the more creative you will have to be. While securing a loan may be difficult, it is not impossible. Again, it’s all about your mindset. Contact a community credit counseling service in your local area. They will be able to provide specific information about your options and resources available to you within your local area (usually at no charge). Specifically, you want a list of lenders who give business loans to individuals with a bankruptcy. Start a business in an industry prone to success. Some banks are loath to give funding for certain business models with low margins, such as restaurants, as they have a high failure rate. Prove that
