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Business loan/credit score

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surfchick106

surfchick106 Posts: 30 Forumite

24 July 2013 at 10:37PM in Loans

Hi, I have asked several people all with contrasting answers, was hoping someone could clear it up. When applying for a small business loan do lenders take into consideration personal debt? I am looking to operate as a sole trader.

Thanks in advance

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Thrugelmir Posts: 89,546 Forumite

24 July 2013 at 10:47PM

Yes. As a sole trader your business and personal financial affairs are interlinked.

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surfchick106 Posts: 30 Forumite

24 July 2013 at 10:49PM

Great, thank you a clear answer )

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