Loans and other forms of working capital present a solution to Latino small business owner. Options for loans do exist even for those with bad credit.
Borrowers often want the best terms and interest rates on any loans in which they apply.

How’s your personal credit?
Creditworthiness plays a critical role in any attempt to get a small business loan. Lenders will look at the past credit history of any potential borrower.

The lender won’t generate a profit when lending to someone who defaults.

Reviewing your credit history tells the lender what to expect. Whether this is always fair is debatable. If your credit score is low, you should work on improving it.

If you’re interested in improving your chances of getting small business funding – begin by requesting a free credit report annually from one or all of the top three credit bureaus. Read the report to see what the lender looks at when reviewing the application. Better still, use the information to take action to improve the score.

Enhancing your Credit Score
Credit scores change based on financial decisions made month-to-month. After reviewing a credit report, the issues driving a credit score down reveal themselves. If you discover deficiencies, take steps to improve the score. Doing this may take time, but doing nothing leaves a bad credit score in place. Start working immediately on fixing the credit rating. Hire a professional service if necessary. Professional credit counselors or repair specialists may provide guidance towards reversing a difficult financial situation.

Working with the Lender
A borrower shouldn’t remain passive when dealing with a lender. Often, most lenders enjoy a proactive borrower, who is willing to address situations and provide information to support their case. If a lender is unsure if you can repay the loan – try to look at what documents you can provide the lender.

For example, consider sharing a P&L, A/R and Tax Return, in order to show the strength of your business. If you feel these documents support your point, consider proactively sharing them with the lender.

Business Loans for Latino Business Owners

Delancey Street is proud of the fact we support the Latino community. If you are interested in getting a business loan, please consider reaching out to us. We have many bi-lingual speakers, who are available to help you get a business loan.

Delancey Street is here for you

Our team is available always to help you. Regardless of whether you need advice, or just want to run a scenario by us. We take pride in the fact our team loves working with our clients - and truly cares about their financial and mental wellbeing.

"Super fast, and super courteous, Delancey Street is amazing"
Leo
$125,000 Small Business Loan
"Thanks for funding me in literally 24 hours"
Jason
$35,000 Lawsuit Advance
"Great choice for first time fix and flippers"
Mary
$250,000 Hard money Loan

In The Media

Delancey Street CEO discusses ways to reward employees
Delancey Street CEO discusses the benefits of franchising on Forbes.
Delancey Street CEO discusses management on AMEX.
Funding Circle

What Is Funding Circle? In Funding Circle, business owners who…

What’s a SOLE PROPRIETORSHIP

In today’s society, it appears that many people are looking…

A Step by Step Guide to Incorporating a Business

Your business can never flourish without being incorporated, as there…

Free Payroll Software
Best Payroll Software For Small Business

This article is about what is the best payroll software…

Delancey Street understands funding like no one else!
Steven Norris
Get Funding Today

Ready To Get Started?

If you have questions, feel free to shoot us an email, or fill out our live chat.

Apply Now