alt Hacker NewsI 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?
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detourdog • yesterday at 5:56 PM
The liability I’m shielded from is not debt I specifically requested. I’m shielded from unknown events.
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bdangubic • yesterday at 5:37 PM
banks are not stupid… you can’t just open LLC, borrow billion bucks, spend it and then be like “oops, LLC mates, not liable”
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>Why would you ever sign a personal guarantee?
So that they will lend you the money...
It's not always required, depends on the amount and the business.