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    Joseph35's Avatar
    Joseph35 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 6, 2007, 10:10 PM
    Business credit
    My business has great credit but my personal isn't so good. I need a line of credit or business loan. Every where says no due to my personal. How do I separate them and where can I go for one.
    wags's Avatar
    wags Posts: 80, Reputation: 4
    Junior Member
    		  
    #2

    Apr 7, 2007, 08:54 AM
    I will assume you're a small business. Your business IS you, if you are irresponsible with your own money, why would a bank believe you would act responsibly with the companies money? I would look to family and friends for any loans. Good Luck
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Apr 7, 2007, 10:24 AM
    You need to incorporate the business and then apply for a loan. Make sure you bring your P&L statements.
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