Many are faced with the problem of wanting to start a business but have no money compounded by poor credit.

I won’t say that you can’t start a business, because you can. You can start your business with no money — but it will not be easy. If you’re willing to work hard, and be creative and willing to learn, you can surely do it.

With poor credit, getting a low-cost loan from the Small Business Administration will not be an option. In SBA’s document “CREDIT FACTORS A POTENTIAL BORROWER SHOULD KNOW” http://www.sba.gov/financing/preparation/qualify.html you can qualify for an SBA loan if you have equity investment and collateral — which both means money. SBA wants to see that you yourself is invested in your business, so they want to make sure that you have money in your business as well. Without money, then you cannot be approved.

Here are some articles that can give you ideas of what to do when you want to start a business yet you do not have capital:

Starting a Business with Little Cash? http://www.powerhomebiz.com/vol30/nocash.htm
10 Rules for Starting A Business on a Shoestring Budget http://www.powerhomebiz.com/vol70/shoestringrules.htm
No Money? No Problem! http://www.entrepreneur.com/article/0,4621,288954,00.html
Seth Godin’s Bootstrapper Bible http://www.changethis.com/8.BootstrappersBible
How to Start a Business With No Money http://www.smbtrendwire.com/start-business-no-money/

I suggest you read the following books as well. Borrow them from your library or buy them from your favorite bookstore

– No Cash, No Fear: Entrepreneurial Secrets to Starting Any Business with No Money by Terry Allen
– Starting on a Shoestring: Building a Business Without a Bankroll by Arnold S. Goldstein
– The Art of the Start: The Time-Tested, Battle-Hardened Guide for Anyone Starting Anything by Guy Kawasaki