Answers

Business loan

Asked by: Christopher Burns  — 1 November, 2011

I want to know when you get the DBA license do you get access to banks… like, no matter how bad your credit is, do you still get a business loan?

Answered by: admin  — 1 November, 2011

Dear Christopher,

Unfortunately, having a DBA or even a registered company will not help you get a business loan from a traditional lender, as they tend to ask for a personal guarantor, and they base their decision on this guarantor’s personal credit.

It is possible to develop a good business credit and then apply for a loan based on that credit alone, however its a process that takes some time.

Ask Incorporation Question
Please enter your full name
Please enter your email address
Please select your phone number
Please select
Please enter text message
Begin Web-Stat code v 6.0