Can businesses use personal loans?

Personal loans aren’t just for weddings and home remodeling — some lenders also allow you to use them for business purposes.

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Business owners may prefer a personal loan over a business loan

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because the process is faster and often more convenient than applying for a business loan.

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FICO credit score requirements are similar between personal and business loans.

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credit score requirements for business loans start in the mid-500s.

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But personal lenders largely care only about your personal creditworthiness.

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Keep in mind personal loan limits are typically lower than business loans.

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