When a corporation decides to apply for a loan from a conventional bank, does the bank look at anybody’s personal credit?
Very often the bank will want the management/owners to sign on the loan, and they will have personal liability. This depends on the size of the corporation and the relationship it has with the bank. If any individuals are going to be asked to sign individually, they will apply on the debt and credit should be checked.
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Very often the bank will want the management/owners to sign on the loan, and they will have personal liability. This depends on the size of the corporation and the relationship it has with the bank. If any individuals are going to be asked to sign individually, they will apply on the debt and credit should be checked.
