Business Credit

Using credit to build your business is different than using credit as a consumer.  You only have one way to start off on the right foot, and investing properly in your business is key.

We use Prosper to fund some of our loans. 

Here is a video on how to use Prosper to generate income.

Here are more tutorials about Prosper:

https://www.prosper.com/help/tutorials/

It is easy and quick to use, so go ahead and get funded today!

 Join Prosper Now

Some Tips for Getting Results with Prosper:

• Take the online tutorials for BOTH borrowing and lending (click on “borrow”, click on “lend”);
• Join a “group” to get better interest rate (click on “community” and view groups available);
• Take some time to check out other listings that might be similar to your own situation;
• Find out your credit score – you need a minimum credit score of 520 to post on Prosper;
• Select a great photo for your listing
• When writing your listing, be personable and help potential lenders get to know you and what you’re about – be honest, but respectful.
• Be prepared to prove your stated income (with copies of past 2 months paystubs if you’re employed OR a Profit & Loss statement if you’re self-employed).  If you don’t have documentation proving your income, you’re better off stating “$0 or not able to verify” for income.  Don’t worry!  You can still get funded AND approved!

Another option is Snaploan.  I have not tried it, but it's worth a shot.  Investing in a business is investing in the lifestyle that you deserve.

There is a difference between using credit to buy new clothes or a car that depreciates, and investing in a business.  And while home businesses have drastically lower captial requirements than traditional businesses, this can sometimes be catch-22.  People have a habit of associating value with price -- and this is why many people who join a home business fail:  Simply because they do not have enough at stake.

Add to this that the nearly universal #1 reason new businesses fail is LACK OF CAPITAL.  Don't underfund your business.  A business always takes the most moeny to get running and into cashflow.  And then the expenses decrease dramatically.