You’ve got the next game-changing, industry-disrupting idea, but starting your own business comes with a lot of costs. Startup loans are specifically designed to help ambitious individuals get their businesses up and running. If you’re ready to start the next big thing, get in touch with Cheddarr to secure the best startup loan for your business.
What Is A Startup Loan?
Starting a business from scratch requires a lot of work and a lot of funding. Too often, startup owners find themselves handing out equity to investors or borrowing money from friends and family to get the initial capital they need. Startup loans are a better way to finance your business and accelerate its growth.
Are Loans A Good Way To Fund Your Startup?
Startup loans are an incredibly effective way to fund your startup. These loans can provide you with the capital you need to hire essential employees, purchase inventory or equipment, move into your first office space, and more, all while maintaining your equity in your company. Don’t hand out equity to investors so they can get paid for your backbreaking work. Apply for a startup loan with Cheddarr today!
Can I Get A Startup Loan If I Have Bad Credit?
Lenders focus on the personal credit history of the business owner when deciding whether or not to award a startup loan. However, lenders will also assess other aspects of your loan request. Including a detailed business plan that outlines how you plan to use the funding and an in-depth business forecast that demonstrates your expected cash flow over the course of the coming months and years will strengthen your case for a loan. This makes startup loans an accessible financing option for a variety of people, including those with bad credit.
What Are The Requirements For A Startup Loan?
To be approved outright for a startup loan, you typically need to have a credit score of 680 or higher and have been in business for 6 months or more. Individuals who have experience working in a field related to their startup have a higher likelihood of securing a loan. Those with bad credit scores may be required to offer up assets for collateral against their loan, such as their car or house. Cheddarr can help you find the best solution for your growing business. Contact us today to get started.
Cheddarr is dedicated to helping passionate startup owners secure the loans they need to grow and scale their businesses. Contact us today to find the best loan option for your business!
