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.

Business owners may prefer a personal loan over a business loan

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

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

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

But personal lenders largely care only about your personal creditworthiness.

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