Bad Credit Business Loan in Palm Harbor, FL for $50000 — My name is Brendan E.
I would like to get a business loan of 50,000 dollars or more and I would like to tell you about about my business plan a little bit.
I have built a high-end portable bathroom that is now being used at a construction site here in Palm Harbor Florida. There is nothing like my product anywhere in the State, and arguably in all of the country. This could branch out into a nation wide business and service.
I can well assure you that I know what I’m doing (very much so), and I can also assure you that the lender’s $50,000 will be paid back with the interest and closing fees if any.
I will be able to afford a large payment of $2,000-$2,500 to the lender each month. This is guaranteed because I have a background backer who is willing to guarantee this loan if anything were to ever happen. I can put in touch with this backer before we negotiate terms and conditions on the loan.
Now let me get into the subject of my credit rating.
I have very poor credit score, and I have had recent trouble with the IRS for back taxes. The IRS problem is being dealt with and it looks like I will owe approximately $18,500 back to the Government. This is what part of my business loan will be for. Just in case you were wondering.
Once all the IRS concern is looked after, I have to clean up my credit rating with some debt consolidation plan(s), but that will only be done after this business loan is done and I am on my way to constructing more of my units.
With a lender’s blessing I can start constructing 4 more of my units, and they are rented out to construction companies for between $800-$850 a month and some need servicing as well which makes more profit. I can easily make these installments on your loan.
I realize that my credit score is really bad, and therefore my APR is going to be high, and I don’t have a problem with that either. I just need the money.
Note from lender: We found this small business owner a lender in Florida that was willing to look at his business plan, and found it to be sound. The loan was backed with a share in the company. Basically, this borrower took on a partner.
For those people who need loan for starting, growing, or saving a small business, AND they have a low FICO score/low credit score, they will have to find some private money, in the form of a silent, or NOT so silent partner who is willing invest in the venture.
[LL Staff] [Time-Stamp Sept 18, 2011]
Disclaimer: The views expressed by this author don't necessarily reflect the opinions of Lazerloan.com, it's owners, or it's affliates.
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