What if I wanna take out a loan to pay for the services of various experts in the Entertainment industry who are helping me get my screenplay financially backed and produced. Would that be considered a business or a personal loan?
Anything Goes : Sorry, but I am not sure which lounge i should place this in by Dwayne Pagnotto
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Your best bet it to speak with your tax-man. You'll receive the answers you need.
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You could probably do it faster as a personal loan but if your project has some qualifying structure in place (like perhaps a corporate structure) then it could be a business loan, in which case the appplication process may be longer (unless what I hear is true about fast access to business loans for small new LLC startups- but I dont know about that )..