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change to business how do banks respond?

bishops palace · 2010-07-02 11:16:39

Hi guys, Just wondering if there is a change in a business (ie partnership succeeded by sole trader, or sole trader changes to a company), does it generally pose a lot of problems with a business current a/c? Like would the bank treat as new entity where loans and o/d's are concerned or can it be done painlessly with…

02-07-2010 11:16am

#1

bishops palace

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Posts: 31

Hi guys,
Just wondering if there is a change in a business (ie partnership succeeded by sole trader, or sole trader changes to a company), does it generally pose a lot of problems with a business current a/c? Like would the bank treat as new entity where loans and o/d's are concerned or can it be done painlessly with minimal interruption to business. Anyone done this in current "worried banks" climate?

Thanks

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Comments

#2 02-07-2010 11:53am

unclebill98

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It would depend on if there is any facilities and if they are in joint names and vise versa.

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