alt Hacker NewsMy personal experience with LLC loans and banks is that the bank is using the assets as collateral and me as a backstop.
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richiebful1 • yesterday at 7:11 PM
"Me" in this case being a stand-in for the principal owner, which could be a corporation, individual, or group of individuals
I thought the whole point of LLC was to limit liability so you wouldn't be liable for debt beyond your paid up capital? Why would you ever sign a personal guarantee?