When you take out a commercial loan to finance your business, you’ll be required to sign a loan agreement and more than likely security documents to support the lending under the loan agreement to confirm that you:
When a business receives a loan, do all directors need to sign on the dotted line?
If you choose to access financing for your business through a commercial loan, it’s important to understand who needs to agree to and authorise the debt before you proceed.
I’m applying for commercial finance – What will my lender require?
Commercial loans and financing are some of the most common ways for business owners to access funding for growth and enhanced cash flow.
When am I liable for a personal guarantee?
You become liable under a personal guarantee when your business defaults on or becomes unable to repay a business loan.
Are personal guarantees unlimited?
Taking out a business loan can help business owners to unlock new growth opportunities, so it is unsurprisingly a popular option for entrepreneurs seeking commercial funding.