I have been running an at home childcare business for 2 years now and am very interested in opening my own center. However i am a single mom and have not so great credit so i think my chances of getting a loan a slim. Any advice would be greatly appreciated!!! Thanks!!!Does anyone have any advice on where to find loans for starting a daycare center?
If you don't have good credit, even if you find a loan, your rates will be higher than what's advertised.
My advice is to offer some parents discounts for paying several months up front. That way, you'll have the cash you need to get started and possibly even some operating capital.
Plus, wouldn't it be GREAT to start out a business debt-free without having to worry about payments?
In today's market, it's hard for anyone to get loans, including those with good credit. So, being creative is often more effective and less stressful than going the traditional route when trying to finance small business endeavors.
Good luck!
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