I have several business lines of credit including HSBC, Chase & Kabbage. In my experience, they do not report on personal credit. To be certain, ask the lender before applying because you definitely don't want business debt reporting on your personal reports.
The process for obtaining a business line of credit is grueling, especially in today's day and age. It has become way more difficult to obtain a business LOC. They're gonna ask you alright don't worry about that lol. You will need to PG the line and the bank will require all sorts of personal and business documentation. It will also take at least 3 weeks to get funded and that's IF you're approved. A strong personal credit score doesn't necessarily guarantee approval as they will also look at the health of the business.
Chase does these through SBA but be warned if you don't "properly" use the credit line how they want you to, they will close it. My business banker told me they like to see constant draws and paybacks. Leave a high balance on the LOC and they will close it.
Regarding Kabbage, the interest is high, no question about it. However, they're probably your easiest choice as they only require business bank statements. That's all I had to provide. You will also need to PG though. You can also pay the loan back whenever you can to save on the interest. I always like to have extra funding available even if I don't require it.
Uncle Money
