suits your requirements in terms of affordability & flexibility.
Got enough funds to meet Operational Expenses?
Be sure to keep in mind the fact you would require adequate start up capital since during the initial stages the returns would not be as what you had anticipated and also for sometime you would require to pump in capital on a daily basis to meet some the daily expenses like wages, rent, supplies etc.
Going the Traditional way Apart from sources like personal assets, loans thru individuals etc, one of the other very common source of loans that you are likely to go ahead to get loan for start up would be going the traditional way which means approaching a bank for a business loan. However, this option has its own demerits. Getting a bank loan approval is a cumbersome task in itself which will require you to invest lot of time along with documentation and various other charges, fees and formalities. Bank loans often requires credit checks, collaterals and if you are not lucky enough; you might land up with an interest rate that could be very high for a start up to manage. Apart from this you need to make sure that you have payments/instalments ready by the specific due date irrespective of at what stage of revenue earning your business is at.
A feasible, flexible and affordable Loan option for Start ups The other option that you have is getting a cash advance for start ups through various lenders who often extend customized loan options. The main advantage is that in most cases they do not require collaterals, and credit checks. If your bad credit is holding you back from applying for a loan, then dont have to worry about those nasty checks any more. Also, If you plan to start as a merchant who would accept credit cards then you could be provided with a loan option against your future credit card sales.