There are a lot of ways for you to get financial support for your business. One of which is Equity Financing wherein you seek investors to provide you with the capital. You don't have to look far, you can ask a loan from your family and friends. Do not ask for a big loan just from one person because they would most probably decline. You can divide the full amount you need by the number of your prospects. That way, you most likely would get a "yes".
Private lenders, debt financiers and even government agencies would only be giving you capital if you have a good credit score. Why is that important? If you were in their position, you would not lend your money to someone who has a history of bankruptcy, would you? Of course not! There is a risk in lending money even to someone you have known for years and if you have a poor credit score, the risk is magnified.
Before splurging, you have to realize the significance of your rating to your financial health especially since you'll need it to get your business growing.