Do you need corporation to get loan?

Nope.
But it might be harder with being a corporation.

 

Any lender would like to see some sort of track record of loans being paid back and bills being paid.

So a new or newer corp. with no track record of such could make it difficult to get a loan or at a good rate.

Now having said that if you have a LARGE sum of money that you put in to the corps. bank account that may make things easier.

 

Banks no more give loans to an entity like an LLC or corporation with little/no/bad credit than they do an individual. If you think you can just set-up a corporation and then get a loan from a bank, it won't happen. YOU and your credit will be the sole basis for the loan regarding a new entity.

 

Your first corp loan is a pill to swallow. After you're established you'll be offered things you won't believe-- not that they're all good things.

 

No bank or loan company or whatever is going to loan to a small corporation anyway without personal guarantees of the principals.

 

My buddy set up his Corp in March and didn't get a truck until August. He financed it. No matter how much he was willing to put down the interest rate still sucked even with good personal credit score which he had. But for me I got the truck first then setup my Corp after.