Entrepreneurs understand that they need to keep their business' finances in order if they'd like to obtain a business loan in the future. However, many are not aware that it's imperative to keep their personal finances in tip-top shape as well.





Comments


Written by HeatherStone
4153 days ago

Hi Cate,

Great points here about how things really work. In fact, another problem you can run into is an issue with collateral. Even if you have great credit, a bank may be unwilling to lend you money if you have no assets to put up and no personal money invested. Again, the concern is, If you have nothing to risk, why would the bank risk its funds? Thanks for sharing with the BizSugar community.



Written by CateCosta
4153 days ago

You're welcome and thanks for the extra point about collateral!



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Share your small business tips with the community!
Share your small business tips with the community!
Share your small business tips with the community!
Share your small business tips with the community!