The trap
High-rate personal loans marketed to damaged credit often carry 35%+ APRs and origination fees. Consolidating with one can help utilization, but only if you do not re-run the balances back up.
The better path for business owners
If the capital is for your business, borrowing personally is the expensive option. EIN-based business credit and lines of credit give you higher limits, better terms, and no personal guarantee at the top tiers — while keeping your personal profile clean.
The Bottom Line
Before you sign a high-rate personal loan, let us price out your EIN-based options.