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BEWARE of the personal guarantee!

It is common for owners of new companies to be asked to sign a personal guarantee for anyone extending “credit”. Landlords, Suppliers, Financial Institutions and any other sources that may extend “credit” to your business may ask you to sign. This is normal, as these sources want some assurance that they will be paid since your business is new and essentially has no profile or past performance to review. In a perfect world, your company will be able to pay all its obligations on time and the personal guarantee will never come into play… Click HERE to read more.

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