Am I able to get a business loan with my personal credit score of 580?

Lisa asked 7 months ago

Hi,
I’ve been working in a laser hair removing spa for a 3 years and now I’m thinking about opening my own beauty SPA.
But, due to my irresponsibility, my credit score dropped to 580 and I worry that I’ll not be able to get business or personal loan.
Did anyone have experience with this?
Will appreciate any suggestions!
Thank you!

1 Answers
Sam J answered 7 months ago

Possible, but not easy and you’ll have high APR.
I suggest to increase your credit first. Make it at least 620.

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