Howdy all, I need some advice from any of you. I have a gentleman that I am working with right now. He is looking for an ongoing line of credit starting at $50k. His main concern is that he has filed bankruptcy and was recently dismissed (personal chptr 13) and he has also run his business as a sole proprietor until recently forming an LLC. I have not approached any lenders yet but am I looking at this being a major concern in getting him the financing he needs?

Yes it is.

The line between the small business and the individual is a blurry one.

Bad personal credit with a recent bankruptcy is a deal killer most times.

sound like a tough deal but check with comerica

i obtained a Biz LOC from them. i had excellent credit but they were very loose on documentation. Also, they were very knowledgeable about what would and wouldnt work. The local person who you will speak to can call the underwriters to go over your scenario.

worth a try at least......