Forbes Council – Funding Your Business With A Personal Loan? 14 Things To Consider First
“You’ll probably have to put up personal collateral.
Many banks and credit facilities require a pledge of all of your personal assets, and this pledge may limit your ability to borrow additional funds as your business grows. Having your personal residence as collateral may add stress to your personal relationship since the bank may also require your spouse’s personal guarantee. If there is a blip in the business it could lead to the loss of your residence.”
– Joseph Ingrassia, Capstone Capital Group, LLC