Personal to Business Credit Dilemma

[Shayla Collins]

I have a HELOC on an investment property on my personal credit. Just recently the interest rate went up to 9%.

I’d really like to get this line of credit off of my personal credit so am considering paying it off with a business loan. The business loan interest rate is 7 pts higher. The monthly rent would still cover the loan payment but only by a hair. 

The only reason I’d consider doing this is because I need to clear my personal credit, which makes sense. However getting a new loan at a much higher interest rate makes me cringe. 

Has anyone out there ever done this?