topic Re: EIDL on credit report in Business Credit

EIDL on credit report

YoungBiz21 — Tue, 19 May 2020 20:21:32 GMT

Does anyone know if the EIDL will show up on your personal credit report if you are a sole proprietor?

Re: EIDL on credit report

jaxstraw — Tue, 19 May 2020 22:13:21 GMT

@YoungBiz21 wrote:
Does anyone know if the EIDL will show up on your personal credit report if you are a sole proprietor?

It should not.

It's a business loan.

Just for instance....if you accepted over $25k they put a UCC1 financing statement on your commercial property.

Re: EIDL on credit report

Anonymous — Fri, 22 May 2020 16:01:32 GMT

@YoungBiz21 wrote:
Does anyone know if the EIDL will show up on your personal credit report if you are a sole proprietor?

I would think it will. I have an S-Corporation and the SBA pulled my Experian report for the EIDL (the pull was a month ago and still no decision on whether or not I will get anything).

Re: EIDL on credit report

Anonymous — Fri, 22 May 2020 18:06:51 GMT

@YoungBiz21 wrote:
Does anyone know if the EIDL will show up on your personal credit report if you are a sole proprietor?

EDIT: see post 6

Re: EIDL on credit report

YoungBiz21 — Fri, 22 May 2020 17:38:10 GMT

Thanks for the replies guys. I only asked because a friend of mine is on the fence about accepting her loan. She wants to purchase a house later in the year and do not want her DTI to skyrocket. She is a sole proprietor.

Re: EIDL on credit report

Anonymous — Fri, 22 May 2020 18:06:14 GMT

@YoungBiz21 wrote:
Thanks for the replies guys. I only asked because a friend of mine is on the fence about accepting her loan. She wants to purchase a house later in the year and do not want her DTI to skyrocket. She is a sole proprietor.

My bad -- I misread what you were asking. The inquiry shows up on personal credit. As to the loan itself -- I'm not certain but I've read it does not. I apologize for the misinformation.