Getting a Loan After Bankruptcy is Tougher, but Possible

April 14, 2010  |  

( — Dear Karen: I declared bankruptcy a few years ago.

Now I have a new business. Can I get a business loan?

Answer: The bankruptcy will affect your credit rating for at least seven years. But you may get a loan before then if your company is profitable, said Bob Seiwert, a senior vice president at the American Bankers Assn.

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