Can any seachers or lenders share their experience/thoughts on how a searcher can get comfortable with the personal guarantee on debt financing?
Despite our best efforts, sometimes deals can go bad. The personal guarantee can leave the entrepreneur with a lot of liability.
In addition, in theory, a searcher/entrepreneur could be fired out of their own company by the shareholders. That would leave the awkward situation of being liable under the guarantee but not having any operational control.
Unfortunately, the net result is that the SBA PG is "unfair" to later-career searcher who can't afford to lose everything due to having a house and needing to provide for family/kids etc. However, it is great for folks who don't have significant assets because there is de factor very little downside risk