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The Personal Guarantee for Credit Approval

A personal guarantee (PG) is requested by lenders in order to ensure that they get paid any debt issued to a corporation or LLC. The personal guarantee is signed by an individual typically involved in the business. In most cases it’s one of the owners, officers, or board of directors.
The National Association of Credit Managers [...]

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Good Debt vs. Bad Debt

I hate debt. I don’t like the feeling of owing anyone money. Though I was repeatedly taught in my youth to avoid debt like the plague, I didn’t listen very well — I was nearly $1m in debt at age 25! Some things are learned the hard way. As much as I dislike debt now, [...]

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Behave Your Way to Obtaining Capital for Your Business

In his book, The Seven Habits of Highly Effective People, Dr. Stephen Covey recounts a conversation with a man who hated attending out-of-town training events. The man explained that his wife calls and hounds him on every detail of the day, whom he dines with, etc., and that he felt imprisoned by it. He also [...]

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SBA Business Loans

Given your business plan and your collateral situation, you might look for special loans funded by government development agencies.
If you are in the U.S., then you are probably looking for Small Business Administration (SBA) loans. The SBA is a federal government agency that guarantees bank loans to small business. The SBA has many different programs, [...]

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