<p>My parents have bad credit and can’t co-sign for me. They already co-signed for my sister. However, they do have a family business account that does not have any debt nor bad credit. Is it possible to have a family business co-sign for me? I’m trying to get a loan from Sallie Mae of $5,000. Thanks in advance!</p>
<p>A family business’s credit is only as good as its owner’s credit. A business doesn’t “sign” for credit…a person does.</p>
<p>Just because the family business doesn’t have any debts or bad credit associated with it is irrelevant.</p>
<p>Have your parents apply for Plus loan. They’ll be turned down and then you’ll get four thousand more in loans. Your family will have to figure out how to come up with the other thousand. </p>
<p>It doesn’t sound like the business has any cash assets otherwise your parents would borrow from it.</p>