bad credit looking for businss loan

[Sam1980DDS]

I don't know if this is an appropriate forum to post this, I appologise in advance.
I had to take the board exam couple of times and I went really broke and I couldn't pay my payments for about nine months, however, I paid them all after credit companies sent my account to the collection agancy.

Now I am trying to apply for a business loan, however, I know my credit hx is not good, but I paid off all my debt. Is there any bank, banks that would give me a business loan to open my practice? if there is let me know
or is there anyway around this?
thanks again

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[Daurang]

All my student loans were a year late and not paid off but Henry Schein gave me a $120K construction business loan anyhow. My fico score back then was in the low 600. Get a credit report and if your fico score is 600 or above, you should be okay theoretically.

 

[OceanDMD]

You really dont think the explosion of forclosures has no impact on getting financing, especially with poor credit? Be careful, you may want to work on that credit score before buying or starting a practice. Watch the interest rate you get quoted for.

 

[Sam1980DDS]

do you know any site that I can check my credit report for free?
thanks Dr. Daurang and Dr. OceanMD

 

[Daurang]

Depending on the state you live in, the law may allow you a free credit report from each of the three credit reporting bureaus. Your second option to get it free is go to the nearest bank and apply for a $1Mil loan. They will then deny your application, which will allow you a free credit report from Equifax, Transunion, etc . Your third option is to pay $45 bucks for a local office compile one for you. Keep in mind your fico score will drop about 15 points temporarily.

 

[bigstix808]

do you know any site that I can check my credit report for free?
thanks Dr. Daurang and Dr. OceanMD

www.annualcreditreport.com

it's free to see all 3 major credit companies only once but it does cost $8 to actually see your score. federal law allows you one free credit report per FY.