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Applying for business line of credit

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Anonymous
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Applying for business line of credit

Since my personal credit is not 720 or better I was told in order to obtain a business line of credit I can have another officer of the company such as the Treasurer sign or co-sign with me for the money. Now I'm hearing that the person has to be made the "owner" in order to obtain this money so that it doesn't appear as a fraudulent loan. I'm worried because I don't want to make him the actual owner of the company but I don't want to be "redflagged" either. Someone PLEASE help because I don't want to ruin my business because I don't have all the facts. 

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FrugalRican
Blogger

Re: Applying for business line of credit

"Who" did you talk to?

A loan officer, a CSR, a teller, someone you know?

Follow my financial journey: http://www.frugalrican.com


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