August 8th, 2012 by Questions
I received a “Small Business Loan” to purchase machinery for a startup company I set up a couple of years ago. I was required to sign a “personal guarantee” for 25%. (unsecured)
I have not been able to get the business off the ground and have been personally funding it for the past two years.
Cannot afford to do it any longer so I’m going to have to consider bankrupting the company.
I don’t have an income to be able to pay out the personal guarantee so what can I do?
Posted from: Ontario