PG for 1 out of the 2 partners only?
Hi all - is it possible to get an SBA loan where only one of the 2 partners has a PG or do both need to be on the hook for the loan?
thanks!
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by a searcher
from Harvard University - Harvard Business School
in New York, NY, USA
in New York, NY, USA
6yrs ago
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by a searcher
6yrs ago
from University of Virginia in Richmond, VA, USA
from University of Virginia in Richmond, VA, USA
Person A has 20% ownership in BuyMe corp with no personal cash buy in but a full personal guarantee. Firm B creates LLCs C, D, E, F, and G to put up the full capital for a buyout, each getting 16% of the shares without any personal guarantee. Wouldn't this theoretically be possible for SBA criteria?
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by a searcher
6yrs ago
from University of Virginia in Washington Metropolitan Area, USA
from University of Virginia in Washington Metropolitan Area, USA
I wouldn't think a bank would lend to blind LLC C, D, E, F and G without details on stockholders of each LLC, if any one stockholder owns more than 20%, that would become apparent.
Great questions and topic. Interesting.
Great questions and topic. Interesting.
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