how do i get finance for my business if my personal finance has defaults?

i need finance for tools etc, or i would like to lease a new equipment, but my personal history is blighted. I know everyone is having trouble with finance Thanks

Getting any kind of financing is going to be difficult if you have had financial difficulty personally. If you have some kind of collateral that you can put up to back the financing that helps, but it really just depends on how much financing you need. If it is a small amount of money, try asking the 3 'Fs' for help (friends, family and fools). If it is a large amount of money, your personal assets may be enough to act as collateral with a bank or credit union.

When you have bad personal credit the only left to do is to build your business's credit score. After you have obtained a tax ID number and a legal entity for your business, you are ready to start building your business's credit. Then you can become qualified for vendor and supplier small credit lines. These small credit lines can then be used as favorable credit history and leveraged into larger loans. You must make certain that you build a good business credit history with all three business credit bureaus

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