Business Question - Filling Out a Credit App

We run our own company LLC in raw materials. We are the owners and total employees are hubby, myself and daughter.

IF asked to fill out a credit app, which is rare, we send BUSINESS banking info and our references. We do not put our personal information on anything.

We typically do not have to fill out any apps with exception to transportation companies we hire to carry and deliver our materials because we have to have special insurance on our product.

We've had no issues because the transportation company costs are not a major cost in our business. Our materials are the most costly and we sell those by the truckload or railcar.

I fill out credit apps at work. We do not sign personal guarantees nor do we include any private information (home address, phone number, etc)about any of the officers of the company. I've been doing it that way for 10 years and I've never had a company come back and decline giving us credit. Omitting personal info shouldn't be a big deal.

As long as it's not illegal, immoral or unethical I would just do as my boss (the owner of the company) requests. Then it's up to the vendor to decide what to do, and the owner can act accordingly.

I don't blame her for not wanting to put personal info out there if she doesn't have to. That's probably one reason (among several) why they formed a corporate entity.

JMO.

If you are a LLC or Corp. than personal information should not be required. If the owner doesn't want to give out the information than just leave it blank. The creditor will make a decision as to whether they will extend credit or not.

If you're dealing with a bank, this information is required by law. The bank will not extend credit without it.

Updated

If you are a LLC or Corp. than personal information should not be required. If the owner doesn't want to give out the information than just leave it blank. The creditor will make a decision as to whether they will extend credit or not.

If you're dealing with a bank, this information is required by law. The bank will not extend credit without it.

What sort of personal info are they wanting? Usually it's just the name, title, and maybe a phone number. Any banking info or whatever should be the company's, not hers.