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Getting a Business Loan After Bankruptcy

Lendio

Some will require waiting seven years when the bankruptcy will be removed from your credit report. Others will consider your application within two to three years after the bankruptcy is closed if you’ve rebuilt your credit score. Type Description Chapter 7 Known as “liquidation bankruptcy.”

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What Happens When You File for Business Bankruptcy?

Fundera

Business owners can file for Chapter 7, Chapter 11, or Chapter 13 bankruptcy, depending on the business’s debt levels and financial situation. A Chapter 7 filing typically ends in the liquidation of the business, with the assets distributed among creditors. Chapter 11 Bankruptcy (Reorganization).

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How to Recover From Business Credit Card Debt

Fundera

The biggest consideration for card issuers is your personal credit score—if you’re responsible with your personal debt, as indicated by your credit history, you’re lower risk for a business credit card. With that in mind, remember when you applied for your business credit card with your personal credit score?

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How to Get Merchant Cash Advance Debt Relief

Fundera

If you truly have no other options, a merchant cash advance will work, since many MCA providers accept bad credit. On the other hand, one of the benefits of a merchant cash advance is that it won’t hurt your credit history, either. There are three options when filing for business bankruptcy: chapter 11, 7, or 13.

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Are There Hidden Risks in Your AR Portfolio?

Your Virtual Credit Manager

In February, Epiq Bankruptcy reported that commercial Chapter 11 bankruptcy filings climbed 118 percent year-over-year. The Imperative for Both Periodic Reviews and Ongoing Monitoring One of the things you should do immediately upon approving a customer for credit terms is schedule their first Account Review.