cancel
Showing results for 
Search instead for 
Did you mean: 

Corporate loan and personal credit question...

tag
KeithW
Frequent Contributor

Corporate loan and personal credit question...

If I get a business loan to purchase a piece of equipment for my families corporation will this affect my personal credit? I plan to get a mortgage in the next 9 months and I don't want to do anything to jeopardize my chances, but I also would like to invest in some new equipment.

EQ671 TU673 EX662
Message 1 of 3
2 REPLIES 2
llecs
Moderator Emeritus

Re: Corporate loan and personal credit question...

Most credit items like biz LOCs and biz loans won't report on your personal accounts, but a rare few will. Definitely worth asking them. There'll be an inquiry though; you can always explain that easily w/ your lender-to-be.

Message 2 of 3
Project17
New Contributor

Re: Corporate loan and personal credit question...

It really depends on how you will be purchasing the equipment.. A loan though the dealer or on a company credit card.. Most direct loans shouldn't report but you would want to check and a lot more credit card companies are reporting.

Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.