You can use a personal loan for business expenses, so the short answer is “yes.” You’ll need to have a good credit rating to get a personal loan. However, even though bad credit loans are available, they typically come at a higher interest rate. In some cases, borrowers may be prohibited from using the money they receive from these loans for business purposes. There are many reasons why a business owner shouldn’t take out a personal loan for your business. One concern is that if your company and you are commingling funds, a court may be able to “pierce the corporate veil.” Even though corporations, LLCs, and partnerships are separate entities, creditors can go after the owners’ homes, bank accounts, investments, and other assets to pay the corporation’s debt.