HOW TO GET COMFORTABLE WITH A PERSONAL GUARANTEE?
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.