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1. EVEN WITH
It is possible to get a loan when you have bad
credit. The key is to make smart choices as a
borrower and to start on the path to rebuilding
your credit. It may feel overwhelming but the
steps below will help you get the money you need
and get control of your finances.

2. METHOD 1 GETTING AN FHA LOAN
Know the terms Check your credit Know the disqualifiers Make adjustments
METHOD 2 GETTING AN AUTO
LOAN
Check your credit Plan in advance

3. Shop around.
Focus on finding the
lowest APR (annual
percentage rate) over the
shortest term.
Watch out for non-essentials
in your contract.
Read the print
Look at conventional
lenders first.

4. METHOD 3 GETTING A BUSINESS LOAN
Educate yourself
Consider using a bank
1
2
Be prepared to offer collateral.
Incorporate. Incorporation minimizes the
personal liability of the corporations officers
and employees.
Show past profitability, and to describe a
well thought-out plan for future profits.
Start small. Start by making small loan requests
as it will increase the odds of success.

5. 3
Try crowdfunding
4
Try microfunding
This is can be especially attractive for startup companies.
REWARDS
EQUITY
DONATION
LENDING
crowdfunding offers some
type of tangible reward.
crowdfunding offers a piece
of the business in exchange
for funding.
crowdfunding offers the least
amount of risk to the recipient
of funds, but is usually the
domain of charitable and
artistic enterprises.
crowdfunding is basically
peer-to-peer lending on a
different kind of platform.

6. 5
Investigate merchant cash advances and credit cards.
Look at the SBA's programs
The Small Business Administration (SBA) offers a variety of
loan programs for small businesses.
6

7. METHOD 4 GETTING A STUDENT LOAN
The Free Application for
Federal Student Aid (FAFSA) is
a form detailing your financial
information for the purposes
of obtaining student aid.
Stafford Loans are the most
popular types of federally
available loans.
The interest levels on
Perkins Loans are fixed at
5%, unlike Stafford loans,
which have variable
interest rates.

8. Apply for a PLUS Loan Investigate a private
student loan.
Counter your poor
credit with a co-signer.
PLUS Loans are available to
graduate students and
parents of undergraduate
students.
A co-signer takes on the
responsibility of paying
your loan if you fail to
make timely or regular
payments.

9. METHOD 5 MEETING WITH A LENDER
employment
information and
housing history for
the last two years
two years worth
of W-2 forms and
income tax forms
complete
information and
several months
worth of statements
for all bank accounts
complete
information for
any outstanding
loans and credit
card debt.

10. Prepare a loan
application and/or loan
application letter.
Be prepared to ask more than once
Make a plan
Ask for feedback

11. METHOD 6 UNDERSTANDING LOANS
Learn the difference between a secured
and an unsecured loan.
Be clear on the terms.
Calculate tax-time savings.
Be wary of payday loans and cash advances.
Banks, chains and private storefront operations all
offer payday loans that come with interest rates as
high as 500% or more.
Think twice before borrowing on your credit card.
Figure out what you can afford.

12. METHOD 7 REBUILDING YOUR CREDIT
Get a secured credit card
Shop around for the lowest fees and
rates. Hot Payday charges one of the
lowest fees you’ll find.
Explore "hybrid" cards.

13. Make payments on time.
See a credit counselor
Choose a reputable
counselor.
Investigate debt
consolidation services
thoroughly.
Sources:
http://www.hotpayday.com/
http://www.wikihow.com/Get-a-Loan-Even-With-Bad-Credit