Most entrepreneurs think that if they have bad credit there is no chance of them getting a loan. However, in reality, there are actually many different financing options that business owners have in which they can qualify, even if they have severe credit challenges.

Krishna Mohan is a business growth strategist and #1 best selling. Talks about you can still get a Business loan if you have personal bad credit. Krishna is a Best-selling Author and he wrote Elite Real Estate Professionals, 45-minute Business Breakthrough and his recent book Insider Secrets To Business Credit and Financing.

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Michele Wilson:

TRANSCRIBED INTERVIEW:

Michele Wilson
So what if that business owner has already used their personal credit and maybe not very good it's bad credit, are you still able to do business credit.

Krishna Mohan
Yes, so they can. So the personal credit is one thing that we, we are saying that we are not going to use it while building business credit so in that scenario, whether you have a 700 credit score or whether we are having. Almost like a bad credit. It really doesn't matter because we are not trying to commingle these two things. So you're building it separate right from zero, based on your EIN and based on the company that you're trying to build. So, with your bad credit, you will still be able to get the business credit, you will be still eligible for every type of every type of business loans, and then be able to take advantage of your EIN number. and your company, and then not not not further risk your, FICO scores.

Michele Wilson
Sounds like your EIN really on your business and you totally have business credit which is separate from your personal life. And so it doesn't impact you and that's why it's really important to build your business credit because it doesn't impact your personal assets and collateral and an asset but that's what it sounds like. That's why it's so important to build business credit profile.