Sole Trader and Personal loans

LB96

I am a sole trader about to move to a new premises. Am I able to take out a personal loan to help with this, eg paying decorators/electrician etc. Or do I have to take out a business loan? 

Thanks.

Grumpy_chap

Are you eligible for Bounce Back Loan?  That may be the lowest cost option.

LB96

Grumpy_chap said:

Are you eligible for Bounce Back Loan?  That may be the lowest cost option.

I've already applied / recieved a BBL prior to deciding to move premises unfortunately 

robber2

if you are a sole trader a personal loan is probably easier to get and could also be cheaper. Depends largely on your credit and earnings history.

Yahoo_Mail

Almost all (if not all) lenders will prohibit using personal loans for business purposes.

[Deleted User]

Do you have to move premises @LB96 ?