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Unfortunately, it’s challenging for new startups to qualify for traditional business loans because they lack business credit. Let’s explore some alternative forms of financing you can use to clear that hurdle and get startup business loans with bad credit. You’ll usually need good personal and business credit to qualify for an account.
Federal credit unions. This is not an exhaustive list—there are other, very specific types of organizations that qualify, too—but you should be able to get a sense of what qualifies based on these categories. Examples of Nonprofits. Organizations you know, both big and small, are incorporated as nonprofit corporations.
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