Take the analogy of a rotten apple.
How can you tell a rotten apple is still a good apple? Tell the truth - nobody buys; Comestic it - someone may buy, but the truth will reveal someday. If you think you can get away with the cosmetic, by all means, it is an ethical issue and different people value it differently.
If cosmetic your financial numbers with valid reasons for your bad credit status, you still stand a chance to receive a business loan - but remember the analogy of the rotten apple.
Now if we reposition the rotten apple: which means no cosmetic but innovatively demonstrate how the rotten apple still has good value. The loan comes in because the bank believes you can make it despite knowing your poor credit status.
Choosing the path of repositioning, you need to an executive summary of your business to clearly articulate how you can become very successful despite the past bad records.
So depending on which path you are choosing ...
Report Quek's answer
Great question! Based on my experience the SBA has some awesome resources to help entrepreneurs to find funding even if you have bad credit. Here's a link to their website. https://www.sba.gov/business-guide
Recommend as a first step, start a good business plan and the SBA website has some great examples.
Have a great day!
Report William's answer
Christopher hi. The Small Business Administration (SBA) is a good source of information and assistance provider. On the other hand, try with banks and credit unions IF you have a good collateral, a tangible or intangible asset that a lender accepts as security for a loan. Crowdfunding or cosigner support could be also some avenues to explore. Loan sharks are not recommended. Search for options and then shop around, but presenting and sharing a good business plan. Reach success.