Getting a Small Business Loan After Personal Bankruptcy
If you are thinking about filing for personal bankruptcy in Illinois , there are many factors to consider. For some residents of the Chicago area, the relationship between consumer bankruptcy and small business loans may be one of those factors. Obtaining credit for your business after you have declared bankruptcy is similar in many ways to getting credit for other purchases—potentially difficult in the time period immediately following bankruptcy, but certainly within the realm of possibility once you have rebuilt your credit. However, there are other significant considerations for Illinoisans who are seeking financing for business purposes. According to a recent article in The Wall Street Transcript , small business owners should consider a number of issues in relation to their personal finances. Keeping Your Business Profile and Personal Credit History Separate Generally speaking, if you have a small business, it is a good idea to keep your business credit history sep...