Working capital loan

johnvod
New Community Member

What can I use the funds from a working capital loan for?

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sharpiemarker
Esteemed Advisor
Esteemed Advisor

@johnvod 

 

Anything to do with your business because it is a business loan.

 

  1. Business Purpose

    You agree that this Account shall be used only for commercial or business purposes, in the ordinary course of business, and not for personal, family, or household purposes. Specifically, You understand that Your agreement not to use this Account for personal, family or household purposes means that important duties imposed upon Us, and important rights conferred upon a consumer, pursuant to certain federal or state laws, do not apply to this Account.

     

    You further agree that the Account shall not be used for, or in connection with, any purchase of real estate or any other real property interests, and that no real estate or real property is being pledged as collateral under this Agreement.

     

    You also agree that Lender has no obligation to determine whether any given use of the Account conforms to this "Business Purpose" section of this Agreement. You agree that a breach by You of this "Business Purpose" section will not affect Lender’s right to enforce Your promise to pay for the credit extended, including related charges, or to use any remedy legally available to Us even if that remedy would not have been available had the Account been established as a consumer credit account.


Kudos & Solved are greatly appreciated. 🙂
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