No. Just the proprietors can sign up a business loan. For those who have somebody that will help you to get loan they'll either have to become the owner, or you will have to get an unsecured business loan to pay for the company expenses.
In case your cosigner has an excellent credit score and is a relative or closely affiliated with your business, this can help you qualify for a business loan.
No.
Yes, you can switch the cosigner to the primary on a loan. The way to do this is to have the loan refinanced.
The only option is for the loan to be refinanced without the particpation of the present cosigner.
They can still come after the cosigner, and it will still reflect poorly on your cosigner's credit history. You have been absolved of the debt, not your cosigner.
The title has nothing to do with the loan. The loan will need to be refinanced using a different cosigner or only the primary borrowers.
Nothing. The only option for being remove as a cosigner is to have the original loan refinanced without the cosigner participating.
No, the refinancing without the consent or knowledge of the original cosigner created a breach of the original lending agreement and the cosigner is no longer legally obligated for the debt.
Normally a cosigner has to be able to pay the loan if the signer does not pay. So the cosigner should have better credit than the person seeking the loan.
The obligation of a cosigner is discharged by a borrower securing a loan to the satisfaction of the creditor. Paying off a loan will also discharge the obligation of a cosigner.
i was able to get an auto loan with the help of a cosigner and im under 18
The cosigner of the loan owns 1/2 of the property if they are on the title.