Small and medium sized business owners are often faced with the dilemma of providing a personal guarantee to a bank in order to secure a business loan or business financing. This state of affairs is regrettable and risky since most small and medium sized businesses have taken legal steps to shield themselves from personal liability in connection with their business by forming a separate corporate entity, establishing separate bank accounts and segregating personal versus business funds, etc.
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Commercial Real Estate Updates, Residential Real Estate Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
© Peter Bauman - Senior Associate at Tharpe & Howell, LLP | Attorney Advertising