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How a DUI can Affect Your Ability to Get a Small Business Loan

by Robert Wagner on September 21, 2012

A driving under the influence charge, or DUI, is a much more serious matter than many individuals realize. The license suspension and fines are significant, along with the possibility of incarceration. It is important to remember that driving under the influence is a criminal charge, and it may be necessary to pursue expunging the record in the future, in order to possibly qualify for a loan.

 How a DUI Affects Your Small Business Loan

The situation depends on the type of loan in most cases. If a loan application requires a criminal history check and disclosure on the application, then it is eminent that it will be used in the qualification process. When a DUI includes any illegal drug charges it clearly shows more disregard for the law. This is often enough of a character flaw to affect a denial, though it may not be a primary reason.
Small business loans should be affected if there is no criminal history requirement on the application. A license suspension for an individual whose employment is dependent on driving also impacts the ability to get a loan, because it has a direct bearing on financial resources and cash flow.

The inability to drive from long-term suspended driving privileges affects an entire life. Multiple offenders clearly need experienced and competent legal representatives when there is any chance that a DUI can be amended to impaired driving. Just having an attorney and being willing to present a case to the court shows that the defendant knows the issue is serious. The impact this can have on an individual’s credit rating and loan capacity can be measured in many ways.


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