0
A personal bankruptcy can remain on your credit history for up to 10 years, which can make it difficult to get a business loan; however, if your business credit is established as a completely separate entity from your personal credit, you may increase your likelihood of getting a business loan.
What else can I help you with?
Can you obtain an sba loan after bankruptcy?
Yes, you can obtain an SBA loan after bankruptcy, but there are certain conditions. Typically, the SBA requires that the bankruptcy has been discharged, and you must demonstrate a viable business plan and the ability to repay the loan. Additionally, the specific lender may have their own policies regarding lending to individuals with a bankruptcy history. It’s advisable to consult with a financial advisor or lender to understand your eligibility.
Where can someone go to obtain a bankruptcy home loan?
To obtain a bankruptcy home loan one could make an appointment with their local bank to talk to an advisor. One could also make an appointment with a bankruptcy lawyer.
Where can one obtain a car loan after having claimed bankruptcy?
You can obtain a car loan after having claimed bankruptcy by applying online at the Cars Direct website. Cars Direct is well known for helping people with poor credit obtain an auto loan.
Will it be hard to obtain a home loan after filing bankruptcy?
Virtually impossible.
If you have a personal bank loan can you still file for bankruptcy?
Of course.
Can you get a personal loan with an open chapter 7 bankruptcy?
maybe
Where can one obtain a commercial business loan?
The only place to obtain a commercial business loan is at a bank. In order to obtain one, it is obligatory to have a company as well as a solid business plan.
How can I obtain a loan for investing purposes?
To obtain a loan for investing purposes, you can approach banks, credit unions, or online lenders to apply for a personal loan or a business loan. You will need to have a good credit score, a solid business plan or investment strategy, and collateral in some cases. Be prepared to provide detailed information about your financial situation and the purpose of the loan.
In general would interest rates for a personal loan be lower or high than those for a business loan?
In general the interest rates for a personal loan would be higher than for a business loan. The risk of losing money with business loan is not as high as with personal loan.
Is it okay to use a personal credit line for business purchases, or is a business loan better?
It is easier to use your personal finances, however, for tax purposes it would be more beneficial to obtain other financing.
How does one obtain commercial financing for their business?
"A person looking to start a business could talk to the same bank that handles his or her personal finances. Due to a personal relationship, the bank may be willing to consider a small business loan."
Where could one obtain loan finance for a personal loan?
To obtain loan finance for a personal loan by visiting their local bank and filling out the necessary paperwork. Some websites to visit would be DFCU Financial and Discover.
