I have a simple question...

[Big_Daddy73]

I'm pursuing a life-long ambition of owning my own nightclub... Do you know if you have to have good personal credit to get a loan threw the SBA??? I made a business plan up and it shows them where the money will be going. I was told it does but I but Matthew Lesko's book/CD and it tells me it even helps if you don't have the good credit.

If you can asnwer me and have any advise... I would be thankful and would listen what you have to say!

Talk to me,

Matthew

[wygk]

SBA does not actually make loans - they underwrite loans that are made through tradition lending institutions like banks. And I suspect, even if you qualify for SBA backing, that the banks are going to take your personal credit history into consideration. It's also very hard to get a bank loan for a nightclub.

My general advice for anyone trying to start a business is to check out SCORE.org, and see if they have an office or branch in your community. SCORE is an organization of retired business people, supported by the SBA, that offers help and advice to entrepreneurs.

Good luck!