When you open a small business, you’re not the only one taking a huge financial risk – your credit card issuer is, too. To minimize losses in the event that your company fails, lenders generally require you to sign a personal guarantee and provide your Social Security number when you apply for a business credit card. Here’s what that means for you. What is a personal guarantee? A personal guarantee is an agreement you make with your creditor to personally pay your business’s debts if your company doesn’t.
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Claire Davidson, NerdWallet.com
Wed, 04/01/2015 - 8:00am
Topics: social security personal s-corporation c-corporation limited liability company true generally chase s ink plus® business credit card s individual liability company full can i kickstarter but for claire davidson twitter@ideclaire7 google+ image company liability in case creditor small payments bankruptcy terms debt payment assets future property risk cards years established stay agreement debts require pay remember doesn accounts issuer minimize signing aren falls means losses signed process borrow classifications responsible reports guarantees fails event declaring sued cases owners people difficult negative llc jointly applying understand application joint
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