How does a small business get its credit rated?
xxroxy1616 asked:
I am interested in purchasing my friends resturant to help him get out of debt. He had it incorporated. So I will be owning my own corporation. How do banks and lenders view you as far as credit wise? Is it linked to my personal credit rating or do I get a separate rating for the business(corporation)? Please help before I make a big mistake. I appreciate any and all answers!
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unless you just want to rush in i would contact the small business admin and asked for there assistance — but if you want to do it strictly on your own the bank will loan you the money based on your personal credit record and so and thing coming out ot this business good or bad will reflect against you personal credit record!!! mister ed