Will a line of credit with a supplier affect my borrowing capacity?
Hi everyone.
I'm a tradie and I was going to setup accounts with some of my suppliers. These are usually paid fortnightly and would be like 2-3k credit limits. If I set these up will the bank be aware? Also, most of my income comes from PAYG (same with my wife) but we both have ABN's. Do banks care we both have small side businesses? We have 0 debt of any kind except our land loan on the land we are about to try and build on. No afterpay or anything.
Thanks for the help.