The most recent analysis by the Federal Reserve of small business credit markets shows signs of slowing revenue and credit gaps, especially among firms with annual revenue of $1 million or less. With the credit market tight, especially among larger lenders, businesses are looking at other options to fuel start-up and expansion work.
What can an entrepreneur do to make up for a less-than-ideal personal credit history when trying to get financing for a new small business??
Character remains one of the "Five Cs of Credit" so significant deficiencies in a persons credit history that reflect poor character will usually make it difficult, if not impossible, for that person to obtain traditional funding for a new business.