When making a decision on a business loan, lenders will consider your personal credit history. Poor personal credit can be the basis for declining a business loan. Therefore, poor credit can be a problem and can prevent you from obtaining a business loan. You should consider obtaining a copy of your personal credit report to gain a better understanding of your credit history. If you have credit problems, you may want to contact Consumer Credit Counseling Services for guidance. You may need to rebuild your personal credit before applying for a business loan.