u/Optimistic_Diver1982

▲ 2 r/EIDL

If the contract is $150,000 no personal guarantee but was done with my social not EIN am I still required to have a personal guarantee?

It has taken me forever to actually get a copy of my contract. This one was under a subset of my larger corporation as the two businesses operations are very different, separate accounting. I have finally gotten my contract off the SBA site for the longest time, it was not there. And I’m looking at it. It literally says closing document without PG. And then there’s nowhere I signed the personal guarantee tour like I did for a much larger loan I did with my LLC. So the question is, for those that were sole proprietor did you actually have to sign a personal guarantee or you were just assuming because it’s sole proprietor. Or am I missing something??

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u/Optimistic_Diver1982 — 2 days ago
▲ 6 r/EIDL

Bankruptcy, might be time to explore.

Good rec for NC bankruptcy attorney?? Or maybe even VA…. Business were VA. Own a rental in VA. Own home in NC! Eidl for Llc original $425k, gym business, so you can imagine how that has gone. And $150k as sole prop of franchise sales mobile dog grooming, that had so many supply chain issues in 2021-2022, we couldn’t actually sell…. Either way. I myself went back to school, high earner, need a good attorney!!!! Thanks in advance!!!

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u/Optimistic_Diver1982 — 3 days ago