2006-09-09 21:25:06 · 15 answers · asked by JOSEPH F 2 in Business & Finance ➔ Personal Finance
Totally "No'!
2006-09-10 00:54:13 · answer #1 · answered by qiu l 2 · 0⤊ 0⤋
If you have filed a personal bankruptcy and if your business is showing profits, I think you can get a business loan. But then again it will affect your % of interest rate applicable on the loan. There are some special documents that might be required.
2006-09-09 21:33:58 · answer #2 · answered by techno_geek 2 · 0⤊ 0⤋
If a person goes bankrupt he usually gets placed on a type of a black list for debt problems. You can only get a loan for a business if your partners have a good credit history(public limited companies it does not matter, because it's got a legal entity on it's own), that is to say if you go into a parternship you also won't be able to get a loan. It is really difficult to get a good credit history after you have filed bankruptcy
2006-09-10 02:00:42 · answer #3 · answered by visor07 1 · 0⤊ 0⤋
There may be some non-traditional lenders out there that would do this, but not the SBA or any regular banks.
In rare cases, if you have enough down payment, a very solid business plan and a good explanation for your bankruptcy and can show that you have turned things around, you might stand a chance.
2006-09-10 11:19:13 · answer #4 · answered by Anonymous · 0⤊ 0⤋
are you kidding!?!?!? this is amercia, probably the only country in the world where you can file bankruptcy, and in less that a month after it is done and discharged, start getting credit card applications, and offres from banks for loans..and yes, you can apply for a business loan, but there is no guarantee that you will get it.
i dont get what the big deal is anyway...the country itself is hundreds of trillions of dollars in debt to japan and china(we dont even own our own country anymore), and the government keeps right on going back for more....where do people get the idea that the u.s. is the richest country in the world.....
2006-09-10 01:06:11 · answer #5 · answered by daddysboicub 5 · 0⤊ 0⤋
No bebcause lending that person would be a risk because they would be protected by the bankruptcy laws so they would not be obligated to payback any loan.
2006-09-15 05:35:30 · answer #6 · answered by Nico W 1 · 0⤊ 0⤋
There is that school of thought that says ...since you are debt-free you are a better risk than the average loan applicant.
Personally, if I were a loan officer I would put minimal credence on that proposition without knowing more about the applicant himself.
2006-09-15 05:20:03 · answer #7 · answered by Beejee 6 · 0⤊ 0⤋
Yes you can still business loans...start with the Small Business Administration...also check with your State gov't....SBA has offices in nearly every city.
2006-09-15 16:53:37 · answer #8 · answered by Bill O 1 · 0⤊ 0⤋
Would you yourself extend a loan to such a person who has no worth?
Objectively speaking, such a person is ineligible for a loan.
But uncle he may have just discovered an uncle in australia with a billion pounds to spare
2006-09-09 21:33:42 · answer #9 · answered by ranjansaras 1 · 0⤊ 0⤋
No, don't think so. He might try getting a loan from friends or relatives, and signing a promissory note. That would work.
2006-09-10 00:50:02 · answer #10 · answered by Anonymous · 0⤊ 0⤋
Yes, Lendingtree is a good place to start.
2006-09-09 21:33:14 · answer #11 · answered by tycoonthangraj 1 · 0⤊ 0⤋