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05-02-2024, 12:42 PM #6
There is a signature loan where the business/assets can be attached.
A personal guarantee loan, the lender can come after personal assets.
I think there is some confusion about this. Explain it to your borrower.
You can do cash do cash out equipment as a signature loan and not a personal guarantee.Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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