With unemployment at an all time high more and more people are turning towards entrepreneurism as a way to take control of their financial future.

However, one of the many obstacles facing startups is lack of capital and relying on personal credit to fund a business is extremely difficult when you are faced with a bad credit problem.

Not too long ago FICO released information showing that over 25 percent of consumers now have a credit score of 599 or below. That’s over 43 million people that are considered subprime!

While there are alternatives to dealing with traditional lenders like social lending and microloans, these funding options still require a favorable credit rating.

So what can you do if poor credit is holding you back from starting a business?

Here are several options that you may find helpful:

While bad credit is a temporary setback it should never be the reason holding you back from pursuing your business venture.

Image Credit: nursinglink.monster.com/

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