Can you get a loan from a bank with bad credit

Bad credit or no credit? Probably doesn't matter though....

 

What is your score

 

Nope. Just starting out, or building credit worthiness, probably need a cosigner. May have to also prove work history and wages. Consigning has been proven to ruin friendships. Lol

 

I assume you are looking for a loan to buy truck or trailer, if that's the case your chances are very slim, you will need proof of good income large down payment cosigner and I think it won't be easy even than, unless you know some people, my understanding is it's harder to finance commercial vehicle than regular car
Good luck

 

Why would you want to? If you are starting a business you need some savings at least. Some credit is fine, but you need that savings account to cover the day to days and the just in case.

 

Here's a good idea...... Go to the bank and ask

 

Thanks for bringing common sense!

 

Banks are low risk institutions. As you credit score goes down the scale you have to look deeper into the alternative lending arena.
For a bank to lend you money, they would require more collateral and a much larger down payment, say 50%.
Alternative lenders might not require any down payment, but they’ll rake you over the coals in interest rates over 20%.

 

The lower your credit score, the lower the loan-to-value ratio that will be approvable by the lender, thus a higher down payment will be required. Also, lower credit scores = higher interest rates.

The lender will have a lien on the asset as collateral.