When Richard Branson started Virgin Records (now the Virgin Group conglomerate), he did what most entrepreneurs do: He used his personal savings, borrowed from relatives and patched together enough funding to pay his bills during the difficult months. He had many of the characteristics of successful entrepreneurs, but what he did not have was excellent credit.
Many entrepreneurs do not have good credit. Some start a business because they were laid off and don't have many alternatives. Some start a business when opportunity strikes, rather than when their personal financial situation is in good condition. Some go through divorces and personal bankruptcies that can ruin their credit.
Resources for Unsecured Business Loans
Resources for Unsecured Personal Loans
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