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value of guaranteeing a business loan
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you should ask the bank supplying the sba loan about the % of ownership that is required to personally guarantee the loan. different banks give different figures, but i believe the last time i heard about this it was 20% or more owners must personally guarantee the loan. before you spend a lot of money on legal fees drawing up a complicated scheme of shares, ask the bank what they require. make sure you speak with an underwriter since many service people don't know the rules.
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