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Most people who are looking for funds for renovations, additions, business expansion, or other financial needs turn to equity lines of credit or other types traditional credit loans. These types of lines of credit are popular and relatively simple to get, but what if you do not have any equity or assets to borrow against? If you find yourself in need of a line of credit but do not have any assets for collateral, or do not want to risk your valuable property you do have, and unsecured line of credit is another option for you.

An unsecured line of credit gives you the cash you need in the timeframe you need just like any other line of credit. Your credit line is based on an amount determined by your credit history, repayment ability, and income and you can use all or part of it as the need arises. The major difference between an unsecured line of credit and a secured one is that you do not have to put up valuable property but will have to pay a higher interest rate.

What you want to raise a business on your own or you want to expand it further? You have a plan and the vigour to make your mark in this field. The company that produces refrigerators to the one that produces anti wrinkle cream; every company no matter how small it is - requires money, hard core moolah to take it to great heights. You dream of the same every night. But isn't there a nightmare that invariably spoils your dream every time you plan your business. It is bad credit. So, how to end this chain of unpleasant circumstances? Bad credit business loans have furthered the cause of preventing financial mishaps for people who want to make it on their own.

Not every loan lenders is geared to provide bad credit business loans. You know you have bad credit if you are a bankrupt, CCJ, default, charge off, or have any past loan related arrears. Start from the beginning - get to know your credit score. A credit score enable the loan lender to judge the credit worthiness of loan borrower. It is a number generated by statistical methods. Based on these number bad credit business loans contenders are given grades like B, C and D. All these grades mean you have to apply for bad credit business loans. Starting a business with credit score ranging from 500-550 could be ideally done with bad credit business loan. Try to get an objective assessment of your credit report before you undertake your quest for bad credit business loans.

If, after looking over the finances for your company you, decide that it may be advantageous for you to get a line of credit then you know doubt need to know what the business line of credit process is. Although there is no one established process for all institutions there are some milestones which are common to most and we will be discussing.

Most companies before dispersing this, will require that they look over your financial and accounting statements to see if your company is viable and likely to be able to repay a loan. Typically they will be looking at some of your hard costs as well as your month-to-month operating costs to determine how much funding you have free to repay them. This will establish a baseline from which they will operate in deciding whether or not to offer you this option and if they do offer you a line of credit, how much credit they will extend to your company. So it is important to have all of your paperwork in order before seeking out funding.