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If you own a small business, you are probably used to separating your business and personal finances. A personal guarantee is an agreement an owner or executive makes to pay back a debt if the ...
Business credit cards with no personal guarantee. Business credit cards generally require personal guarantees stating that the cardholder — not the business — is responsible for the debt on ...
Personal guarantees: Some cards require a personal guarantee, meaning your personal credit score could be affected if you fail to pay off the card's balance. Look for a business credit card with ...
The arrangement is a "sole" proprietorship in contrast with a partnership, which has at least two owners. Sole proprietors may use a trade name or business name other than their legal name. They may have to trademark their business name legally if it differs from their own legal name, with the process varying depending upon country of residence ...
Business credit cards. Corporate credit cards. Who’s liable? The business owner usually signs a personal guarantee, making themself liable for all debt (including any debt charged by employee ...
The SBA requires business owners to pledge personal assets and sign as a personal guarantee for the loan. The 8(a) Business Development Program assists in the development of small businesses owned and operated by African Americans, Hispanics, and Asians. [57] Canadian small businesses can take advantage of federally funded programs and services.
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