The Importance of Maintaining Good Personal Credit as an Entrepreneur | CateCosta.com | Small business news; tips; networking

Posted by CateCosta under Finance
From http://www.catecosta.com 4169 days ago
Made Hot by: centrifugePR on July 1, 2013 6:37 pm

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.

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Comments

Written by HeatherStone
4163 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.

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Written by CateCosta
4163 days ago

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

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