Have your spouse PG in California?

by a searcher from INSEAD

3 months ago

Self funded searcher located in CA. Question on SBA personal guarantee: Does anyone have any recommendations on pros/cons to having a spouse added as a personal guarantor on the SBA loan? Spouse would not be involved in the business at all. Of course first thought would be NOT to include them on the loan, but since CA is a community property state, is it irrelevant in a default scenario? Pros: can include spouse's meaningful w2 income. Cons: does this put more of our assets at risk? Thanks!

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searcher from Harvard University - Harvard Business School

Thanks Luke for tagging me. I did not get a SBA loan so i dont have direct experience with this scenario. On the other hand i have kept my spouse out of any business liabilities in order to a avoid any unnecessary stress on our relationship.

3 months ago | like reply | 0 likes

admin from Massachusetts Institute of Technology - MIT Sloan School of Management

^Searchfunder member‌ might be in a position to help here.

3 months ago | like reply | 0 likes

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