Anonymous asked in Business & FinanceSmall Business · 1 decade ago

Unsecured startup loan for an LLC?

If i was to be approved for an unsecured loan for a business venture and my company was an LLC, and for some reason the business venture failed. The bank will naturally sue me to reclaim my assets. But they cannot touch my personal assets such as my home or car if the loan was aquired through my company right?

2 Answers

  • 1 decade ago
    Favorite Answer

    If your LLC is approved your personal assets are safe.

    If YOU are approved your personal assets are at risk.

    Typically a lender will require personal guarantees for a loan to a startup.

    Hope this helps


    • Login to reply the answers
  • 1 decade ago

    Under your circumstance,I suggest here for you to have a visit.

    • Login to reply the answers
Still have questions? Get your answers by asking now.