| 
| Free Newsletters
| Free Newsletters Are You Personally Liable for a Business Loan?
Date:
Monday, December 13 2004
If you are in a sole proprietorship or a general partnership, you will most likely be personally liable for a loan taken out by the business. If the loan is taken out by a business that is set up and properly run as a corporation or LLC, then the owners of the business should not be personally liable for the loan. Note, however, that banks or other lenders may insist that the owners of a business personally guarantee the loan to ensure that its payment. Avoid personal guarantees if at all possible.
In addition, make sure to read these articles:
- Should You Personally Guarantee a Loan to Your...
- Small Business Loan Scams
- What Information Do Business Lenders Need?
- Advantages and Disadvantages of General...
- Less tax, more flexibility--incorporating...
- Station Club Owners Personally Liable For $1.06...
- It pays to have good credit; a high score has more...
- Twice as nice? The perils and benefits...
- MeadowRun Outfitters to fill niche in Groton
- What Are Your Rights as a Vendor Under the...
- Malpractice Exposure and Choice of...
- A multinomial logit analysis of problem...
Even though you believe wholeheartedly in your business, be wary of personally guaranteeing your business loan.
Unscrupulous "loan brokers" are targeting business owners at their most vulnerable: when they need money.
Make sure potential lenders have the following details when you're applying for a business loan.
General partnerships consist of two or more partners who are both responsible for the business. They share assets, profits, liabilities and management responsibilities for running ......
If you like paying less tax--and who doesn't--then incorporate your business. It is fast, easy, and relatively inexpensive. It can apply to anyone who runs ......
A Rhode Island Workers' Compensation Court has held the owners of the Station club personally liable for a $1.06 million penalty for failing to carry ......
NOWELLE WEATHERSPOO)N'S HIGH CREDIT SCORE OF 790 paid off in a big way when she secured a $120,000, 15-year mortgage at 5.6% with a monthly ......
On its surface, partnership presents a simple calculus: One is less than two or three. Partners, reason would say, can supply more capital than a ......
GROTON - Tena McClary says she is ready to move forward with opening her new sporting goods shop, MeadowRun Outfitters, in the Village of Groton.
Your credit analysis concludes that a new corporate customer may be too much of a credit risk, so you insist on a C.O.D. sale. You ......
The last few years have seen a dramatic increase in malpractice claims against service providers such as lawyers, accountants, tax advisers, and even personal financial ......
Management of problem Loans is one of the most critical aspects of the commercial banking business. The importance of the task is further heightened by ......
Print
Email
Digg It
del.icio.usRelated Resources
Business Credit Solutions
Business Credit Advice
Get In-Depth Company Information from Hoover's | Buy a D&B Credit Report | What is in Your Company's D&B Credit Report?
Online Business Database | Online Business Information | Sales and Marketing Solutions | Business Mailing Lists | Company Profiles
Online Business Database | Online Business Information | Sales and Marketing Solutions | Business Mailing Lists | Company Profiles
Information and opinions on AllBusiness.com solely represent the thoughts and opinions of the authors and are not endorsed by, or reflect the beliefs of,
AllBusiness.com, its parent company D&B, and its affiliates.
AllBusiness.com, its parent company D&B, and its affiliates.
