Hey it's Ty Crandall with Credit Suite, and in this video I just wanted to talk about some of the loan
options that are available for you if you have bad credit if you have credit issues as a matter of
fact, I want to put many of these videos out there because there's a lot of different options that
maybe available for you now if you're interested in getting approved for these or other options go
to creditsuite.com/getfunding, so per the US Department of Revenue most business
loans or credit lines are available today are not coming from conventional banks, okay that's
the good news is that a lot of business owners think that they're not going to be able to get
approved for money because at their bank you know what you're right it's not the place to best the
best place to go to get money but there's a lot of other options outside of the big banks that
can actually help you now get financing, so what's happened is since big banks have pulled
back when it comes to business lending, we've seen all these alternative lenders and all these alternative
lending products pour into the space that make it easier for business owners to get money than ever
before, no matter what the circumstances you face maybe no matter even if you have consumer credit
issues. So one of those is 401k financing now with this you're using an existing 401k or IRA
as collateral to get money, okay these are based on IRS proven strategies you're getting access
to a loan or credit line with an interest rate of about 5% or less and your closing
and only a few weeks time now there's no consumer credit requirements you don't need a tax
return or bank statements and you can borrow as much as 100% of the value of the 401k
so think of it like this a 401k is just you investing in other businesses would this kind
of financing you're just basically investing in your own business instead you're buying
stocks in your own business. Now don't forget about grants the government keeps a searchable
database of available grants at grants.gov okay most people don't even know about this. So this
is a great insider way to get money and then search under keywords corresponding to your
industry now not every industry is going to qualify when you find grants you got to go quick you got
to move quickly before other people grab that money fill out the application as thoroughly as
possible, and don't forget this is free money it's money it doesn't have to be paid back whatsoever.
Now for rule industries will try the USDA you can go usda.gov, okay the USDA doesn't just
give grants to ranchers and farmers they give it to energy companies and waste management
companies and housing preservations, so I mean a great option again if you're in a rural industry
if you're in a rural area. Now HUD Housing and Urban Development they also have grants and you
can go to portalhud.gov to access theirs as well. So again if you're not a rural area well then HUD
might have some. So if you're in an area that for example they want to rehabilitate they want to grow
well then they'll give you all kinds of grants to run a business there because the reality is is that
they want a business there because they know if a business is there it generates jobs and that
generates people living there it helps you know grow that area. Now on top of that there are state
and local governments that may be available to you can get a partnership in your state
city or town you can ask for local support from for a project as well, you can try to appeal to
specific local governments. So look there's a lot of towns there's a lot of provinces there's a lot
of local communities that have money available for businesses as well keep in mind when it comes to
the government you know again it all comes down to stimulation and if they have people to have
jobs there that means people move there and if people move there and people are actually living
there then again it means more revenue right more tax dollars they're generating more for
you there as a result. So again you know as we kind of go through and recap consider funding sources
that aren't even loans at all right try a 401k financing it's a great option you know to look
into government grants and things like that that's not even money that has to be paid back these are
great options that other people, aren't even don't even know about they're not even tapping into, now
keep an eye out for more training we have many of these training videos out there with a lot
of other different options that can work for you to get money for your business if you have
challenge credit, and feel free to go to creditsuite.com/getfunding so you can
fill out a quick application we'll tell you all the money you can get we never charge you any
money to get you financing lenders will charge normal rates and fees but we even negotiate that
down for you. If you have any questions along the way give us a ring 877-600-2487
info@creditsuite.com here at Credit Suite what we do is help you get money, we help you become
more fundable we help you build your business credit and we help you access loans and credit lines
so we can ever help let us know and don't forget to check out our website creditsuite.com top
right. We have all kinds of daily tap tips and tactics on our social channels that I can help
you as well, so thanks for tuning in look forward to helping you get money to grow your business.