Comments on: What are the risks associated to an UNsecured small business loan? http://tenant-loans.best-ukloans.co.uk/02/what-are-the-risks-associated-to-an-unsecured-small-business-loan/ Fast tenant loans online application Fri, 10 Feb 2012 00:40:34 +0000 http://wordpress.org/?v=2.7 hourly 1 By: mrmaccnz http://tenant-loans.best-ukloans.co.uk/02/what-are-the-risks-associated-to-an-unsecured-small-business-loan/comment-page-1/#comment-70 mrmaccnz Mon, 09 Feb 2009 21:38:30 +0000 http://tenant-loans.best-ukloans.co.uk/02/what-are-the-risks-associated-to-an-unsecured-small-business-loan/#comment-70 The biggest loop hole with unsecured loans is they will usually ask you to sign a PG - Personl Gaurantee. This means that even if the business folds you still owe the money. This loophole is outside of the usual 'Limited Liability' so my advice is NEVER sign a PG in your life. I got stung in one of my previous businesses by a partner and 4 years later I am still paying back the money even though the company doesn't exist anymore. Since then I have made a stand and refused to sign one and it's amazing how many businesses will be happy to put a line through it. The issue for you is which is it going to be? No one will lend you money with no gaurantee of getting it back - would you? If you that sure of your business plan and financial projections then I suggest you back yourself and get on with the business. Good luck! The biggest loop hole with unsecured loans is they will usually ask you to sign a PG - Personl Gaurantee. This means that even if the business folds you still owe the money.

This loophole is outside of the usual ‘Limited Liability’ so my advice is NEVER sign a PG in your life.

I got stung in one of my previous businesses by a partner and 4 years later I am still paying back the money even though the company doesn’t exist anymore. Since then I have made a stand and refused to sign one and it’s amazing how many businesses will be happy to put a line through it.

The issue for you is which is it going to be? No one will lend you money with no gaurantee of getting it back - would you? If you that sure of your business plan and financial projections then I suggest you back yourself and get on with the business.

Good luck!

]]> By: luckyaz128 http://tenant-loans.best-ukloans.co.uk/02/what-are-the-risks-associated-to-an-unsecured-small-business-loan/comment-page-1/#comment-69 luckyaz128 Mon, 09 Feb 2009 17:52:21 +0000 http://tenant-loans.best-ukloans.co.uk/02/what-are-the-risks-associated-to-an-unsecured-small-business-loan/#comment-69 I cannot believe that any legititate lending institution is going to make an un-secured loan to a start-up business. There are thousands of small business professionals out there with established businesses would kill for a un-secured loan. But anyway, good luck with your new business. I cannot believe that any legititate lending institution is going to make an un-secured loan to a start-up business. There are thousands of small business professionals out there with established businesses would kill for a un-secured loan.

But anyway, good luck with your new business.

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