Approval odds for commercial lease for new business and iffy credit?
Looking to open a retail business (clothing) - new business, no existing financials to reference. Lower credit score than ideal, mid 600s. What would I need to provide a landlord in order to get approved for a 1000sq ft space?

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There are no other similar stores currently in the development so I believe the concept would be desirable for tenant mix, but should I be expecting to put down lots of cash to offset the lack of historical financials and low credit score? Is there a typical multiple for months of rent expected to be paid up front in a scenario like this?

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Also, are financial projections factored into the decision to approve a tenant?

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Thank you in advance. I have gotten lots of helpful insights from this sub that has gotten me far in my preparation to this point!
[{"id": "eia0nvc", "text": "It depends on what the current financials of where you\u2019re looking and occupancy. Is the landlord desperate to lease up spaces or can they wait for the right tenant to come along? This could open up a can of worms but if you have a good friend or family member with strong credit they could be a guarantor on your lease so if your business folds they would be on the hook for the remaining rent and anything else the landlord is owed. ", "replies": [{"id": "eia756e", "text": "Thank you for your response. Space hasn't really been sitting in the area we are discussing but it has also only recently become a higher traffic area. Other developments are being made around the space in question. \n\n&amp;#x200B;\n\nThis might be a basic question but if a guarantor is added, that puts all their personal assets at risk, correct?", "replies": [{"id": "eia7l5f", "text": "That's a good question, I'm not sure if an LLC can be used as a guarantor or not but I have typically only seen individuals used as guarantors.  ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "eia3mb8", "text": "Highly unlikely, unless you personally guarantee the lease.  As an owner, I wouldn't touch you.  It's just about odds, I think 50% of new businesses fail in the first year and like 80% in the first 5 years.\n\nHere's the main question though, are there any tenant improvements that need to be made?", "replies": [{"id": "eia7afz", "text": "Thank you for your response. Not really any improvements that need to be made. Mostly cosmetic, nothing that would require permitting. Does that help or hurt?\n\nAs an owner, what would you require to make your feel comfortable outside of a personal guarantee?", "replies": [{"id": "eiadxhw", "text": "That's a big plus on little improvements.  But it's hard to say, it's mostly a \"feel\" type of thing, I'd definitely want to see a business plan as well.   Try and get a 3 year term with an option to terminate after Year 2.  It's a hot market so good luck!", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ek0mw5r", "text": "Sometimes you can offer additional security deposit to help offset a limited or weak financial history. As some have mentioned, you may be asked to sign a personal guaranty, which does put your financial assets at risk, and you would want to avoid if possible. You can also have a corporate guaranty on the lease, but this is usually a parent company that owns the entity. Not sure if you could do this with an unrelated company guaranteeing your lease. You can also look at getting a bank to issue a letter of credit to secure the space instead of a guarantee.... but with a lower credit score this may also be difficult. It does help that you won't need much tenant improvements, but if the market is strong the landlord will be more selective. I have seen properties where the landlord wouldn't sign a lease unless the tenant already had an existing successful location somewhere else. It is market driven, and the nicer properties will tend to be more selective.\n\n&amp;#x200B;", "replies": [], "depth": 1}]