Can I Get a Personal Loan with a Tax Lien?

A lot of people ask, ‘Can I get a personal loan with a tax lien?’ So I have put together some information to reassure you. Since e-commerce companies can find adequate and affordable financing in the future, it is extremely important to understand tax defects and their implications for your online business.

Disclosure: This post contains affiliate links and I will be compensated when you make a purchase after clicking on my links, there is no extra cost to you


At this time of the year, taxes are in the minds of both consumers and business owners, but few people want to think about taxes. A tax lien is a serious situation and can have a significant impact on your credit and your ability to obtain funds. Since e-commerce companies can find adequate and affordable financing in the future, it is extremely important to understand tax defects and their implications for your online business. There are two types of tax liens that the IRS can collect (personal and commercial) and there are two ways in which a commercial tax network can be promoted.
Check out my favourite picks-

Types of Tax Lien and Triggers

Personal tax adaptation is provided against people who simply pay their personal taxes. Commercial tax exemptions are charged when a business owner does not pay normal taxes due or does not pay quarterly payroll taxes to their employees. Somehow, the IRS is getting familiar with this practice and they get great to get their money.

Regardless of nature, a tax lien is a legal claim on your property and the Federal Notice of Tax Lien of the IRS is recorded in public records, which has an immediate and negative impact on your credit. As a public record, current creditors and potential creditors see this information as they prepare their credit report.


How can I get a loan with the tax lien?

So, does this negative mark mean that it is on the loan list? Well yes and no. If there is a tax lien against you or your business, no traditional bank will contact you; you are “inadmissible now.” However, other online lenders can help. A tax network can be a black cloud that hangs over your head and can have a big impact on the solvency of your business. We can often work with business owners to get to know this cloud with more affordable options than those offered by the IRS.

When it comes to business owners who are charged personal tax obligations, there may be hope. Alternative lenders consider numerous factors when they decide to extend the credit to small business owners or not expand them and some will extend the credit in a second lien holder position behind the IRS if the company qualifies otherwise. A business owner in an existing IRS payment plan for a personal lien may be eligible to receive funds. The payment history of your debt, which is consistent at the moment through the IRS payment plan, indicates that the business owner is reliable and responsible. However, if the business owner “wants to resolve it with the IRS,” most lenders will pass the test.


More About Qualifying For  Loans

A full commercial tax payment will be required before additional funds can be approved. The only way we can provide funds to a person with a commercial tax lien or a loan is by giving him a term to pay the balance, thus eliminating the lien. By providing a loan with better terms of interest and repayment than borrowers with an IRS payment plan, we can help them out under a crushing obligation, both in terms of cash flow and credit rating. If the borrower qualifies for more than the amount of taxes owed, he will have access to the additional commercial capital required to finance the growth of the company, which is required by small and medium enterprises.


Worth the prevention

The conclusion is this: there is no joke on the part of the taxpayers. Unfortunately, many people believe none of them. Many potential borrowers tell us that they have no outstanding debts and then, when we prepare a credit report, the tax lien is there for the world to see. It is surprising how many people do not think they are a concern. Almost three quarters of the lien we apply to non-payment of payroll taxes. This type of lien is an attractive way to consider using a payroll service that collects and pays these taxes for you, saving time and headaches.

And to avoid non-payment of income taxes first, it is better to avoid a tax lien than to pay it once. The best strategy is to take measures ahead of time to find yourself in a tax lien. Remember, it is easier to obtain a loan without a tax lien than in force.


Now that you know more about the answer to can I get a personal loan with a tax lien you can take the necessary steps to get the right financing or speak a tax advisor to sort out any back taxes first.

Leave a Reply

Sign Up to Get the Latest Offers

Enter Your Email Address to Receive free access today: