 TITLE: How to Get a Small Business Loan With Bad Credit CONTENT: How to Get a Business Loan With Better Terms\n--------------------------------------------\nWhat if none of these loan alternatives provide a loan that fits your needs? If you can't get approved for a business loan that suits you now, don't give up. Follow these steps to help you qualify for a business loan with better terms in the future.\n*   **Improve your personal credit score**: Start by bringing any late payments current as soon as possible and disputing any errors on your credit reports. Pay your bills on time—not just credit card and loan payments, but also your rent, utilities and phone bills. Don't apply for new credit accounts or close unused credit accounts; either of these actions can negatively affect your credit score. Finally, work to pay down credit card debt and other revolving credit; aim to use no more than 30% of your total available credit. Get the details on how to improve your personal credit score.\n*   **Build your business credit**: After you've made sure your business credit report is accurate and brought any late payments current, work on building your business credit by getting credit and using it responsibly. Make sure any business credit cards you use report your payment history to at least one of the three major business credit reporting agencies (Experian, TransUnion and Equifax). See if you can get trade credit with suppliers, and ask them to report to the credit reporting agencies. Even a very low trade credit limit can help: By paying your bills on time, you'll help to improve your credit score and encourage suppliers to extend more credit.\n*   **Reassess your business plan**: Review your business plan to see if there are ways you can cut costs or increase revenues. Either tactic can help reduce the amount of financing you need. You can also ask lenders who turned you down to give you feedback on your business plan. Use what you learn to revise the plan and make it more appealing to lenders in the future. END