2006-06-09 18:53:56 · 7 answers · asked by lcarter79712 1 in Business & Finance ➔ Credit
your registered name , which is your identity
2006-06-09 18:56:59 · answer #1 · answered by Rim 6 · 0⤊ 0⤋
If your business does not have a credit history based off its Federal Tax ID Number then it will be easiest to get the loan in your name. Though you will be personally responsible for that loan.
Best is to go thought little extra work it will take to get the loan in the company name, this way you are not risking your own assets to back the loan. They still may want you to personally guarantee the loan. Often the case with newer (less than 3 year old) businesses that do not have high incomes and can prove based on their bank statements that they have the equity and income to cover the loan.
Be sure not to use the loan for personal items though ... say to fix your house (unless its a home based business) as this is co-mingling of funds and can often make you personally liable also, as you have pierced the corporate veil.
2006-06-10 17:54:07 · answer #2 · answered by calcdffirefighter 3 · 0⤊ 0⤋
a business loan would have to be in the corporate name
2006-06-10 08:08:34 · answer #3 · answered by Anonymous · 0⤊ 0⤋
depends on what u r willing to risk for the return.. if ur name is good, then u shouldnt have probs getting a loan.. however, if ur company name is good, then u shud make sure to comply with all the paperworks before getting the loan.. best thing is to use the corporate name.. at times, its easy to process it out!
2006-06-10 01:57:34 · answer #4 · answered by kuts 4 · 0⤊ 0⤋
personal loan is easier
2006-06-16 02:48:28 · answer #5 · answered by Anonymous · 0⤊ 0⤋
cooperate name.
2006-06-10 01:58:30 · answer #6 · answered by Anonymous · 0⤊ 0⤋
no
2006-06-17 00:03:07 · answer #7 · answered by LiTlE mIsSy 6 · 0⤊ 0⤋