Getting a secured business loan for people with bad credit is a great way to help establish credit in your company's name.
Most secured business loans require a deposit equal to the credit line your are seeking (This can be equity or cash). Make sure they report your payment monthly to the major credit bureaus. Making your payments on time
monthly will increase your business credit rating.
There are steps you should take before trying to obtain a secured business loan with bad credit. First, incorporate your business and obtain a EIN number (This will protect your business from
your personal creditors by separating your business credit from your own credit rating). Second, open up a business checking account.
Once you have established your corporation and have opened up a business checking account with it's own EIN number, ask your bank if they offer secured business loan to help you
establish your business credit rating.