ADVOCACY

The National Association for the Self-Employed realizes that the most important aspect of advocating on behalf of the self-employed is listening to the true-life experiences of self-employed individuals like you. Therefore, the NASE has developed this area of the Legislative Action Center to allow you to tell us your micro-business story.

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Small Business Access to Loans and Credit

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It's not easy for the over 22 million self-employed business owners in our nation to gain access to the financing they need to manage and grow their business. Tell us what your experience has been in obtaining financing to start or grow your micro-business.

NASE Member Stories

SAMUEL DRISCOLL - Virginia Beach, VA

Submitted: 3/22/2010

Why my Credit Score went from 750 to 690? I always pay my bills and have kept my credit card balances less than half of the available credit. 16 months ago the credit card companies have increased my interest rates to as high as 29.99% and cut all available balances by half thus causing me an immediate decline in my FICO score due to high credit balance ratio. This happened a few more times as I attempt to pay off card balances where the banks again lower the available limits again. To top off it off, I get an excuse letter from one company that because I haven't used my credit card (24.99%) in the past few months that my available balance has dropped. I try 3 banks for a debt consolidation loan but turned down for reasons such as high debt, low FICO score, no equity. One bank said I should get help from a debt negotiation firm. I didn't need any loan or debt help until my credit limits were cut and I started paying high interest. So I lost use of my cards and rely on my net30 vendors and cash. Tried to get an SBA Loan. What a paper work nightmare that is. I submitted to 2 banks and turned down. What this event does for me is tighten my belt and stop relying on credit cards. I'll just wait when these companies get back in a competition war trying to get business which ever way they can.

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Legislative Advocacy

You run a business. You contribute to the economy. You vote. But when it comes to influencing laws, will Congress really listen to a micro-business owner like you? Yes. Thanks to the NASE, your voice is heard.

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