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Getting a Business Loan After Bankruptcy

Lendio

Whether you’ve gone through a personal or business bankruptcy, lenders will consider past bankruptcies when making a loan decision. This post will cover common questions about bankruptcy and how it impacts your loan application. Can you get a business loan after bankruptcy?

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What Happens When You File for Business Bankruptcy?

Fundera

What Is Business Bankruptcy? If you’re struggling to pay off business debts, filing for business bankruptcy might help. Business owners can file for Chapter 7, Chapter 11, or Chapter 13 bankruptcy, depending on the business’s debt levels and financial situation.

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Derogatory Public Record or Collection Filed? Here’s What It Means For Your Business

tillful

Unfortunately, derogatory marks cause your credit scores to drop and alert future creditors that you present a higher credit risk. Along with credit account information, credit reports typically include public records — records of incidents or actions recorded with a government agency.