How much of a factor is credit card debt when applying for a small business loan?

Answers:0   |   LastUpdateAt:2012-08-07 10:56:02  

Question
TracyAnn
Asked at 2012-08-07 10:56:02
I am wanting to start a small screen, art house film . I am currently researching everything about it, including initial costs and the cost of use , demographics, etc.

I'll have to buy either a remodeled building and have it in a theater or have the theater built from scratch (I prefer the latter).

I have $ 10,000 in credit card debt , I have not been able to lose in the last three years. The accumulated debt as I was seeking employment , who has just completed an enrollment of 5 years in the Navy, and I have not been able to find a job in my field.

Right now my credit score is 696. I do not remember what it was before, but was at least in the ' above average ' range.

How much of that credit card debt hurts when I am applying for small business loan ? Is it out of the question that would be able to afford to buy land and have a theater built ?

I'm just trying to get a general idea of ​​what should or should not expect, so I have my hopes crushed only for the future.
Answer1BrooklynnAnswered at 2012-08-07 13:36:02
While you are making payments on time ( at least the minimum ), I think you should be able to get a small business loan . If cards are criminals , then probably not.
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