Wednesday, December 22, 2010

Could I start a quot;businessquot; and use its line of credit to do/purchase things with? -

Don t read into the question like I know most of you will. Just answer it as it asks.

That depends on who grants the credit. Most lines of credit are granted to individuals. Most businesses are sole proprietorships. That means the business owner is held solely responsible for the business debts. You are better off using the business line of credit for the business. Do not mix your personal expenses with the business .

Yes, but in the beginning the business credit rating will be YOUR credit rating anyway.DON T USE CREDIT IF YOU CAN T PAY THE BILL IN FULL EVERY MONTH. Stay OUT of debt.

your chances of getting line of credit right away are pretty much ZERO - you have to apply at a bank for that and without a solid business plan and prior work and most likely management experience in that field, you have no chance

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