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Are small business loans usually personally guaranteed?
| rear naked choke | 07/07/26 |
| ...,...,,.::..;,.,:,:,,..,::.,:,.,.:.:.,:. | 07/07/26 |
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Date: July 7th, 2026 3:09 PM Author: rear naked choke An acquaintance of mine recently opened a charming little bookstore in town. Between buildout and inventory she must have put several hundred K into this place. She hasn't told me about finances in any detail, but I know she got a bank loan for at least some of it. Are these loans usually personally guaranteed in full? If this place fails, which seems very likely in the next few years, does acquaintance eat the entire loss? I don't know how else this would work, but on the other hand I see a lot of small businesses with a very slim chance of survival and I can't imagine all these people are just losing hundreds of thousands of dollars left and right. (http://www.autoadmit.com/thread.php?thread_id=5880479&forum_id=2.#49984247) |
Date: July 7th, 2026 3:28 PM Author: ...,...,,.::..;,.,:,:,,..,::.,:,.,.:.:.,:. Usually yes. For SBA loans, personal guarantee is almost always required.
Real estate lease might be guaranteed too. |