|
One more comment: Your business will eventually stand on it's own merit. As I stated above, my company has around $45m in debt and the owners in no way could cover this in the event of default. I believe the banks want personal guarantees as a way of owners having some skin in the game.
I have applied for several credit cards ($75k Amex and $20k Home Depot) and multiple leases on behalf of the company and none of those required the owners guarantees. It's just our primary line of credit and equipment loans that required owners guarantee. So yes, the company will eventually establish it's own credit.
|
10-17-2018, 02:07 PM
