Running or to secure crucial funding for an already established business.
In many cases, lenders, landlords and suppliers will only agree to do business if the company’s obligations are supported by a personal guarantee from one or more of the individuals who own it. But, however tempting it may be to be optimistic about the business’s future prospects, thousands of businesses go under each year. Therefore, business owners should never assume that defaulting on a loan or insolvency are beyond the realm of possibility.
Read on to learn more about personal guarantee agreements, including the consequences should you default on one. Fortsätt läsa ”Business owners can be put under substantial pressure to give personal guarantees to get their new business up”