As a business owner, if you have "imperfect" credit and have been turned down for a business loan from your usual lender, what is your next step? What are your other options?
Answered by:
Ronald Erlien
41 Questions answered
Answered on July 19th, 2018
Reason for poor credit need to tBe examined.
If business can not provide cash flow to pay necessary debts, both short and long term. If they both exist. Time to try to sell or liquidate.
If problem is short term based on accounts receivable or market conditions, my need to refinance house or liquidate other assets to put capital in business.
Would prefer putting personal assets in business than taking on partners or investors for obvious reasons. Unless you need out side skill to help run the business, invest what assets you have.
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