Does having a poor credit rating mean I can never secure financing?
I have an idea for a business that I know will take off. However, my poor credit rating is being held against me. How do I win? I'm trying to be self-sufficient and not rely on welfare. All I need is a small loan. What are people in my position to do? Give up completely?
Developers and sponsors often have to raise large sums very quickly from multiple sources at a time. To do that efficiently, they typically bundle up all of the information on a given capital raise into an all-in-one-package for investors.
Many entrepreneurs want to go directly to the source the moment an idea strikes or at the first sign of growth, but you need to first prove the business to yourself before asking others to believe in it.