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Does Personal Finance Affect Ability To Obtain Business Finance?

Discussion in 'Finance & Accounting' started by LucidCaledonia, Dec 12, 2015.

  1. I've never needed any business loans, but it has made me wonder whether your personal finance affects your ability to obtain business finance?
     
  2. St Rhenium

    St Rhenium Member

    Without doubt, although it depends on the kind of financing, the amount and the provider to what degree. If you build up a reputation for throwing money away nobody is going to touch you with a barge pole just because it's for a business this time :p
     
  3. MarkB

    MarkB Administrator Staff Member

    There will be occassions, especially in the early days, that you will be required to give a personal guarantee on any business loans. So to an extent your personal circumstances could impact your business's ability to raise funds.
     
  4. JasonLee

    JasonLee Member

    Sometimes personal financial problems are very difficult to solve without help. I prefer to use the service quick loans online, because it is the easiest and most convenient way to get the necessary amount of money without time and nerves.