Here’s the low-down on qualifying:
If you’ve got a great personal credit score, personal loans for small businesses could be a good way to finance your new venture. In order to qualify, you’ll need to have a credit score of 580 or above for it a viable option. A personal business loan application will not take into account business information, only personal.
Most businesses who qualify had:
Annual Revenue: Over $45K
Credit Score: 680
Time in business: Over 2 years
To learn more about personal business loans, find out what documents you need to apply, and to submit an application visit our Personal Business Loan Page.