Small business owners are often turned away by lenders when they have poor credit. That?s because a bad credit score implies you have not managed your finances properly in the past. This also applies to young entrepreneurs looking for new business loans.
The good news is both traditional and alternative lenders are making more loans. A strong economy and record low unemployment rates in 2019 are making all this possible. But a good credit score still carries great value, and if your score happens to be on the low side, here are some lenders you can take a look at when it?s time for getting a small business loan.
Darryl founded Smith Financial Advisors Inc. in 2006 after over 30 years experience in financial services including Mergers & Acquisitions, Investment Banking and traditional Commercial Banking activities at Bank One. Smith Financial Advisors is a Registered Investment Advisor in the State of Illinois. The firm specializes in Investment management, financial planning, and retirement planning.