Non-Recourse or No-Personal Guarantee Loans: Fact or Fiction
There are a lot of people talking about getting so-called “non-recourse” loans, or loans without personal guarantees for your business. These loans aren’t easy to find, since most lenders require guarantees. So the question is, are personal guarantees the cherry on a lender’s sundae, or an essential part of the business credit deal?
A personal guarantee is when a business owner that has a business credit line agrees to personally be responsible to pay for the loan in the event that the business defaults. Read the rest…
