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Returning Member

How to apply for business credit or business loan

I have another question if I wanted to open a business and use that loan money or credit to purchase a property outside of the country like Costa Rica how should I go about with doing that? I know that navy federal is good with credit loans and business loans as I able to use that money to purchase property outside of the U.S and if so am I able to tax deduct it? 

1 Reply
Employee Tax & Finance Expert

How to apply for business credit or business loan

Hello Jamiah15,

Thank you for participating in our Ask the Expert event today. As to your question, you will need to check with the financial institution you are getting a loan or credit with to determine if they have any restrictions on foreign use of those funds. As for your tax situation, this article may help. Here is another article that may be useful. Good luck.


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