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Using a personal loan for your business might seem like a quick fix to get the money you need. As a business owner, you want to make sure your company has enough funds to grow and succeed. But you need to know the risks of mixing personal and business finances.
Many business owners pick personal loans because they’re easier to get, especially for new businesses. When you apply for a personal loan, lenders look at your credit score, credit history, income and personal debts to decide if you qualify.
Unlike business loans, they don’t check your business credit, cash flow, yearly revenue
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