This is a CA LLC with an EIN

I will be filing my taxes mid-January to have my second year in business down.

I have been wanting to get an SBA loan to expand into larger projects (General Contracting Business).

The thing is, I reported pretty dam low last year, Like less than 10k. Which I KNOW is a stupid move when trying to get funding. But, Looking at the past year, I am pulling in $10k - $15k/mo in invoices on avg.

I want to get an SBA loan, unfortunately, my personal credit got a hard hit due to a mistake I made a year ago (Didn’t pay a creditor). My biggest concerns are, How much will my personal credit affect the business’s credit, and what are the best strategies for getting an SBA?

  • tnvolfan1@alien.topBEnglish
    1·
    1 year ago

    Don’t know why you would get an SBA loan at all. Building business credit on your EIN will get you access to all the capital you would ever need at better rates and terms and all without personal credit checks or personal guarantees.