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Loans for small business as a single mom.
I have excellent credit bureau score, does that help to participate in a loan funded by the govt to support a small business. As a single mom with 4 children two of them already entered the teen age, may God help me in raising them without asking anyone for help, I'm trying to open a small deli, or pizza, to secure my children future.
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If you are applying for a SBA LOAN you will need to write a real detailed business plan for your business. Also you will have to explain how you are going to spend every dime of it and how the money will be paid... Also you may need Capital... Credit Scores don't matter any more lol Here is some info Small Business Administration - Financial Assistance |
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SBA loans are closely monitored and controlled and a lot of times the interest rates are not always very favorable. If you need cash to get started, in my opinion, I would exhaust other means first. You may want to contact SCORE (Google them) and get some expert advice in this area from specialists. They also offer sound, experienced business advice at no charge. Stringer |
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