What Business Owners Should Know Before They Guarantee a Line of Credit
FFGN COLLECT NY
AUGUST 16, 2020
Most business owners have a line of credit with the bank but don’t realize that, as the business owner, they may be personally responsible for repaying any monies loaned. Often, especially in uncertain financial times, the bank will want someone to guarantee a line they might not otherwise make — usually the officer of the borrowing company.
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